HC upholds order of pre-deposit as it was ordered after considering previous orders on similar issue

Excise & Customs : Pre-deposit ordered after considering : (a) previous orders on similar issue for earlier periods in favour of revenue and (b) offer made by assessee, cannot be regarded as erroneous

Common shareholding isn’t relevant to tax deemed dividend when recipient-co. isn’t a shareholder in

IT : Loans or advances received by assessee-company from other company could not be treated as deemed dividend when assessee was not a shareholder of that company

Sale of pharma-preparation was taxable at 12% as assessee was representing it as soap to customers

CST & VAT : Assessee selling pharmaceutical product manufactured by it representing to its prospective buyer that it was only a soap, was liable to pay tax at rate of 12 per cent

No sec. 11 relief to trust constituted for development of cities as it had turned into a huge profit

IT: Where predominant object of assessee-trust was profit making, exemption under section 11 was rightly denied

CBDT revises territorial jurisdiction and powers/functions of CITs (TDS)

IT : Section 120(1) and (2) of The Income-Tax Act, 1961 - Income-Tax Authorities - Jurisdiction of - Supersession of Notification No. SO 1386(E), Dated 10-8-2007 and Notification No. SO 2752(E), DATED 22-10-2014

Comparables with functional differences and related party transactions couldn't be chosen for TP stu

IT/ILT : Where TPO made addition to assessee's ALP in respect of software development services rendered to AE on basis of arithmetic mean margin of comparables selected under TNMM, since some of comparables selected by TPO was inappropriate on account of functional difference, export turnover and related party transactions etc., impugned addition was to be set aside

Prior to 27-2-2010, services provided by foreign subsidiary to foreign clients of Indian-Co. not dee

Service Tax : For period prior to 27-2-2010, services provided outside India by a foreign subsidiary of Indian holding company to foreign clients of Indian holding company do not amount to export of services by Indian company, as services are not "provided from India" as per Rule 3(2)(a) of Export of Services Rules, 2005

SC: Appellate board had to condone delay in filing appeal as it was filed before 90 days of service

FERA : Where appeal against adjudication order was filed before 90 days and not later than 90 days, Appellate Board was empowered to condone delay

Tribunal had powers to execute its own order if order passed by it wasn't carried out by assessing a

CST & VAT: Where Tribunal passed order in favour of assessee, but same was not being carried out, Tribunal had jurisdiction to execute its own order

ITAT determined income under sec. 44AD as receipts in books were different from those shown in Form

IT : Where there was difference in civil contract receipts shown by assessee in books of account and by contractee in form 26AS, net profit rate at rate of 8 per cent was to be applied to determine income embedded in said receipts

SEBI norms and clause 35 of listing agreement don't require promoters to make disclosure of encumber

SEBI : Neither any regulation framed by SEBI nor clause 35 of the Listing Agreement cast an obligation on promoter/promoter group to make disclosures of shares encumbered to listed company, and in absence of such disclosure made by promoter/promoter group, SEBI would not be justified in directing listed company to disclose to Stock Exchanges details of shares which are 'otherwise encumbered' by promoter/promoter group

CIT had to consider stay application if Tribunal had ordered for payment of tax in instalments

IT : Where petitioner, after filing an appeal and moving a stay petition and suffering an order for payment of demand in instalments, succeeded before Tribunal, Commissioner had to consider stay application

Notification granting revisional power wasn’t valid if it was issued before Haryana VAT Act came int

CST & VAT : While section 34(2) of Haryana Vat Act confers revisional power of Commissioner on Deputy Commissioner by issuing notification but notification referred was issued prior to Act came to be enforced, said notification was not a valid one

Sec. 80-IA: No allocation of fee from job-work amongst all units of assessee if service was provided

IT : Where out of three units only one unit had provided technical know-how service to client, technical know-how fee could not be apportioned among three units for purpose of granting deduction under section 80-IA

TPO couldn’t adopt entity level profit margin if enough material was produced to arrive at segmental

IT/ILT : TPO cannot adopt entity level profit margin where assessee has produced relevant material on record in order to arrive at segmental profitability relating to transactions entered into with AE

Urban Banks can only nominate senior managerial person as director to ensure compliance with Money L

BANKING/MONEY LAUNDERING : Designated Director – Amendment to Section 13(2) of Prevention of Money Laundering Act

RBI directs banks to get confirmation from drawer on phone call in respect of suspicious or high val

BANKING : Cheque Related Fraud Cases - Preventive Measures

No sec. 80-I relief on duty drawback as it doesn't form part of net profits of industrial undertakin

IT: Tribunal rightly directed to work out value of finished goods lying at port on basis of average cost, as this method of valuation of closing stock of raw material had been accepted by assessee

Open remand order would not create binding precedent if no positive view was taken in it, rules High

Central Excise : When matter was remanded back in entirety for reconsideration by Tribunal and there was no positive view taken in remand order, remand order cannot be regarded as binding precedent

Secured creditor couldn’t be asked to refund the amount paid to it for meeting tax liability of liqu

CL: Where secured creditor was paid an amount from sale proceeds towards its dues, it could not be asked to refund that amount towards tax liability of company