Assessee couldn't plead that its declaration for Compounded Scheme was invalid after it had opted fo

Excise & Customs : Where assessee had claimed that it has opted for compounded levy scheme under rule 96ZO(3), by making a declaration under rule 96ZO(4), assessee cannot later plead that there was no declaration in terms of rule 96ZO(4); hence, demand of duty by Department based on rule 96ZO(3) was valid

VAT penalty levied for carrying goods without requisite docs could not be reduced by department: HC

CST & VAT: Provisions contained in section 53(12)(a)(ii) of Karnataka VAT Act are mandatory in nature

No sec. 194C TDS on sums paid to contractor for job-work if liability for execution of contract was

IT : Where assessee engaged in carrying out work of roughing and finishing of raw material on CNC machines on job work basis, engaged various labour contractors to do a part of said job work, in view of fact that assessee himself was responsible for executing contract and labour contractors had no privacy of contract with customer, payments made to said labour contractors were not in nature of sub-contracts and, hence, there was no obligation to deduct TDS on those payments

Interest on loan provided to AE without any security benchmarked at LIBOR plus rate for TP adjustmen

IT/ILT: Transaction of loan given by Indian company to its AE is an international transaction and subjected to ALP as per transfer pricing provisions, thus loan advanced by assessee without any security or guarantee it had to be benchmarked by taking Arm's Length interest rate as LIBOR plus

Though huge pendency of appeals is assigned to benches of CESTAT, yet it can't extend stay indefinit

Service Tax : Incapacity of Tribunal to dispose of appeals (where an order of stay is granted) within a period of 180 days or 365 days is not attributable to any protractive or dilatory conduct of assessees; hence, in such cases, stay may be extended beyond 365 days

CLB rejected Co's plea of issuing shares at more than 10% discount as it failed to repay its secured

CL: Where company had made no efforts to issue right shares at par and had not paid off its secured creditors, petition seeking permission to issue shares at 85 per cent discount was to be dismissed

Monetary limit prevalent when appeal came up before HC was to be considered to decide maintainabilit

Excise & Customs : Monetary limit for filing appeal, as prevalent on date when appeal comes up for consideration of High Court, is applicable; hence, where appeal filed on 1-4-2011 came up for consideration of High Court on 11-12-2011, monetary limit for filing appeal as revised vide Circular dated 17-8-2011 was applicable thereto

Sum received under VRS was exempt as it didn't exceed Rs. five lakhs and VRS was in accordance with

IT: Where voluntary retirement scheme launched by 'K' Ltd. satisfied all requirements of Rule 2BA of 1962 Rules, assessee being employee of 'K' Ltd., was entitled to claim exemption of Rs. Five lakh under section 10(10C) towards retirement benefits received under said scheme

Though huge pendency of appeals is assigned to benches of CESTAT, yet it can't extend stay indefinit

Service Tax : Though huge pendency of appeals and workload assigned to Benches of CESTAT cannot be denied, but, entire object and purpose of insertion of section 35C(2A) and provisos thereto will stand defeated, if waiver of pre-deposit is granted indefinitely; hence, Tribunal cannot extend stay indefinitely

No disallowance for cash payment on insistence of seller as payment proof proved genuineness of tran

IT : Where assessee made payment in cash on insistence of seller and there was no doubt about genuineness of payment, no disallowance could be made under section 40A(3)

Insecticides meant for domestic households fall under Entry No. 115 of Schedule II(B) of Tripura VAT

CST & VAT : Where assessee was dealing in insecticides, which were meant for spraying within domestic household to repel/kill mosquitoes, flies, cockroaches, etc., spray items in question would fall under Entry No. 115 of Schedule II(B) of Tripura VAT Act

Penalty for TDS default deleted as order was passed after 6 months of initiation of action imposing

IT : Penalty order passed under section 271C beyond period of 6 months from date of reference for imposition of penalty would be barred by limitation and liable to be set aside

HC couldn't interfere with Tribunal order denying condonation of delay even if it found a different

Excise & Customs : Where Tribunal had denied condonation of delay on facts after considering all relevant aspects, High Court cannot interfere only because High Court takes a different view