RBI allows ECB borrowers to park ECB proceeds in fixed deposits for 6 months pending their utilizati

FEMA/ILT : External Commercial Borrowings (ECB) Policy – Parking of ECB Proceeds

Authorized dealers and money changers can release basic travel quota of Forex to Haj Pilgrims in cas

Release of Foreign Exchange for Haj/Umrah Pilgrimage

Assessee would get exemption from CST even on non-submission of 'C' form if exemption was granted by

CST & VAT: Where assessee was granted exemption from payment of tax under Madhya Pradesh General Sales Tax Act and Central Sales Tax Act and Assessing Authority denied exemption under Central Act on plea that in respect of inter-State sales assessee did not submit 'C' form, assessee was eligible to get exemption, even though it did not submit 'C' form

Decorating plain glazed ceramic tiles via printing/embossing was manufacture for sec. 80-IA relief

IT: Where assessee was engaged in job work of decoration of plain glazed ceramic tiles through process of printing and embossing designs, said process being in nature of 'manufacturing activity', assessee's claim for deduction under section 80-IA was to be allowed

DRP can't set aside proposed variation in draft assessment order and issue direction for further enq

IT : In terms of provisions of section 144C(8), DRP does not have power to set aside any proposed variation in draft assessment order and issue direction for further enquiry

Sum received by international news agency on distribution of news and related photos in India is roy

IT/ILT : Sum received by international news agency on distribution of news and related photos in India is royalty

Mere receipt of summons in Calcutta from authorities of Kerala won't give arise to cause of action i

Service Tax : Where assessee having centralized service tax registration at Kolkata received summons from Central Excise Intelligence, Kerala, no integral part of cause of action arose in Kolkata; therefore, Calcutta High Court did not have jurisdiction to hear writ thereagainst

HC ordered winding-up of respondent-Co. as it failed to pay agreed sum to petitioner and other credi

CL : Where respondent failed to pay admitted and agreed sum to petitioner and several other creditors, respondent was unable to pay its debts and was to be wound up

Levy of service tax on restaurants and hotel accommodation is unconstitutional, says Kerala High Cou

Service Tax : Levy of service tax on : (1) service forming part of supply of goods in a restaurant, as well as, (2) short-term accommodation services in hotels, inns, etc. is unconstitutional being violative of Entries 54 and 62, respectively, of State List

Penalty had to be waived off if assessee had paid ST even when there was confusion regarding manner

Service-tax : When there was confusion as to manner of payment of tax and assessee had acted honestly by paying service tax, without further delay, on being pointed out, penalties were liable to be waived

No additions on basis of confessional statement made during search if it wasn't supported with evide

IT : Assessing Officer cannot presume income under section 153A merely on basis of confessional statement; he is required to bring on record positive material in support of addition

No additions on basis of confessional statement made during search if it was supported with evidence

IT : Assessing Officer cannot presume income under section 153A merely on basis of confessional statement; he is required to bring on record positive material in support of addition

HC can’t review orders of SetCom; powers are confined to reviewing its decision making process rathe

IT: High Court cannot assume the role of an appellate authority to review orders passed by the SetCom -Its role is confined to judicial review of the decision making process adopted by the SetCom and not the decision itself

Tribunal can't extend stay indefinitely so as to operate during pendency of appeals

Excise & Customs : Tribunal can extend stay beyond 365 days but, in view of specific provisions of section 35C(2A) and especially third proviso thereto inserted by Finance Act, 2013, Tribunal cannot extend stay indefinitely to operate during pendency of appeals

Sum paid in excess of net assets to acquire business division on slum sale basis was to be treated a

IT : Where assessee required annual maintenance contract (AMC) of 'elevator division' business of ECE, said rights being in nature of 'business or commercial rights of similar nature'

AO had rightly made reference to DVO as assessee had utilized unaccounted income in construction of

IT : Where cost of construction shown in books of account was not proper, reference by Assessing Officer to DVO was justified

HC directed assessing authority to suspend recovery proceeding as assessee had agreed to pay sales t

CST & VAT : Tamil Nadu VAT : Where assessee was in arrears of sales tax and thereupon Assessing Authority addressed a letter to principal of assessee informing in this regard, since assessee agreed to pay dues, Assessing Authority was directed to keep impugned proceedings in abeyance

No abuse of dominance by electricity-co. when it didn't allow others to supply electricity in its ar

Competition Act: Where OP-Local authority opposed Informant's request for supply of electricity no case of contravention of provisions of section 4 was made out as exemption is granted to a local authority in terms of provisions of section 42(3) of Electricity Act, 2003 from provision of its network to other distribution licensee for wheeling electricity by way of open access