Cognizance order passed under FUTP norms after 4 yrs of offence but within 1 yr of investigation was

SEBI : Cognizance order passed after four years of commencement of offence but within one year of submission of investigation report and complaint by SEBI would not be barred by limitation

Law requires appellant to submit certified copies of order, submissions of its zerox copies isn't su

Excise & Customs : Where law requires appellate/other authority to supply a certified copy of order passed by it, time-limit would start running only after a certified copy is supplied; mere supply of photocopy by other party is not sufficient

Even 'Solatium' awarded by court would form part of enhanced compensation to avail benefit of sec. 5

IT: Where assessee was awarded by enhanced compensation, benefit under section 54H would be extended to entire amount of compensation as enhanced by Court as compensation connotes not only market value but also statutory benefits provided under Act

Failure to issue notice in time couldn't be cured by sec. 292BB

IT : Failure to issue a notice under section 143(2) within prescribed period cannot be cured by taking recourse to section 292BB

No sec. 158BD block assessment if AO failed to satisfy that material unearthed in search belonged to

IT : Where AO in case of searched person did not record objective satisfaction that incriminating material found in search belonged to assessee, block assessment order passed by jurisdictional AO in case of assessee was to be set aside

Appeal dismissed for default of Tribunal was restored to after imposing cost on the department

Excise & Customs : Even if assessee may not have pursued appeal before Tribunal with as much care as it should have been; however, by awarding costs payable to department, appeal may be restored to give assessee an opportunity to pursue on merits

Foreign decree against guarantor doesn't bar filing of winding up plea in Indian High Court

CL : Even where there is foreign decree against guarantor, winding up petition can still be admitted in jurisdictional High Court in India

CBDT notifies new hierarchy of income-tax authorities; Principal CCIT to be superior to CCIT

IT/ILT : Section 118 of The Income-Tax Act, 1961 - Income-Tax Authorities - Control of - Notified Subordinate Officer – Amendment in Notification No. SO 359, DATED 30-3-1988

CBDT notifies hierarchy of Transfer Pricing Officers

IT/ILT : Section 120(1) and (2) of The Income-Tax Act, 1961 - Income-Tax Authorities - Jurisdiction of – Transfer Pricing Officers – Supersession of Notification No. SO 279(E), DATED 12-3-2003

CBDT revises class of persons and territorial jurisdiction of Transfer Pricing Officers

IT/ILT : Section 120(1) and (2) of The Income-Tax Act, 1961 - Income-Tax Authorities - Jurisdiction of - Supersession of Notification No. SO 994(E), DATED 9-9-2001

CBDT notifies territorial jurisdiction of CITs for purpose of transfer pricing study

IT/ILT : Section 120(1) and (2) of The Income-Tax Act, 1961 - Income-Tax Authorities - Jurisdiction of – Transfer Pricing Officers, Delhi

CBDT specifies class of persons on whom CITs can exercise powers and functions relating to TDS

IT/ILT : Section 120(1) and (2) of The Income-Tax Act, 1961 - Income-Tax Authorities - Jurisdiction of - Supersession of Notification No. SO 881(E), DATED 14-9-2001

Ruling of SC applies to all cases irrespective of their stage of pendency unless prospective effect

Excise & Customs : Supreme Court decision applies to all cases, irrespective of stage of pendency thereof, unless Supreme Court expressly indicates that decision would have prospective effect

Four year's time-limit provided for rectification is also applicable to recall exparte order of Trib

IT : Time-limit of four years provided for rectification of Tribunal's order is also applicable for recalling an ex-parte order of Tribunal

FinMin raises monthly petrol entitlement of presiding officers and members of SAT

SEBI/INDIAN ACTS & RULES : Securities Appellate Tribunal (Salaries, Allowances and Other Terms and Conditions of Presiding Officer and Other Members) Amendment Rules, 2014 – Substitution of Rule 8

'International Union for Conservation of Nature and Natural Resources' can't be held as a foreign so

FOREIGN CONTRIBUTION/ILT : Section 2(1)(j)(ii) of The Foreign Contribution (Regulation) Act, 2010 – Foreign Source - Notified Interntional Agency

HC quashes allegation of suppressed purchases as all purchases were duly accounted for in books

CST & VAT : Where all purchase of goods were accounted in books in support of transported goods, Tribunal's order that there was no suppression of purchase cannot be faulted with

No revision by CIT on issue relating to apportionment of exp. if AO had duly examined such claim

IT: Where Assessing Officer had specifically examined issue relating to apportionment of common expenditure and was fully satisfied with apportionment made, Commissioner could not have invoked provision under section 263 merely on assumption that order passed by Assessing Officer could possibly have been erroneous

CESTAT directs DR/AR of benches to list appeals before Court if evidence of mandatory pre-deposit is

EXCISE & CUSTOMS LAWS : Section 35F of The Central Excise Act, 1944 – Deposit, Pending Appeal of Duty Demanded or Penalty Levied – Mandatory Deposit of 7.5/10 Per Cent, as The Case May be, Has to be Made for Filing Appeal Before Tribunal – Clarification Thereon

AO can’t disregard ITAT’s stay order to collect pending tax on basis of consent letter from assessee

IT/ILT: If Tribunal grants stay of recovery of demand, the Assessing Officer cannot collect the pending amount from assessee even after obtaining a consent letter from him.

HC stayed pre-deposit order of Tribunal on clandestine removal as Courts had divergent opinions on i

Excise & Customs : Where, despite divergent views in various decisions, Tribunal had ordered 25 per cent pre-deposit of duty on clandestine removal based on electricity consumption, High Court stayed said pre-deposit direction pending further others

Hospitals couldn't be deemed to have object of general public utility; eligible for sec. 12AA regist

IT: Where assessee, charitable institution was running a hospital, proviso to section 2(15) would not be applicable

Registrars to keep separate registers for cases in which stay was granted and where no stay was gran

Excise & Customs Laws : Section 35C of The Central Excise Act, 1944 - Orders of Appellate Tribunal - Maintenance of Registers of Cases Where Stay Granted/Not Granted

Sec. 69A couldn't be invoked on a presumption that unaccounted money was bound to flow in a real est

IT : Huge cash in hands of vendors and corresponding withdrawals by purchasing of land by assessee to be verified for making addition in hands of assessee

No tax on packing material as it was used for sale of salt which was not liable to VAT

CST & VAT: Where assessee purchased plastic bags against declaration form without payment of tax and packed salt in such bags for sale, since salt was not subjected to any sales tax, plastic bags in which salt was being packed were not equally subjected to levy of tax

Capital gain tax couldn't be treated as liquidation exp. to get priority over dues of workmen and se

CL: Capital gains payable by company on sale of assets by court not liquidation expenses, cannot be paid in priority over dues of workmen and secured creditors