No credit on transportation of sec. 4A goods from job-worker's factory to depot of principal-manufac

Cenvat Credit : Where assessee-jobworker was making biscuits liable to duty under section 4A and was clearing them to depot of his principal manufacturer, 'place of removal' was his factory and transport from factory to depot of principal manufacturer could not be eligible for credit

Entire input credit is available on purchase of raw material irrespective of generation of by-produ

CST & VAT: M.P. VAT Entire input tax credit would be available on purchase of cotton seeds for manufacture of cotton seed oil, even if by-product of oil cake was generated

No clubbing of interest-free loan given by ‘Shahrukh Khan’ to his wife from whom she had purchased a

IT : 'Shahrukh Khan' gave interest-free loan to his wife, Gauri Khan, who in turn, purchased a residential house and jewellery from said loan amount. The department clubbed the value of loan amount in the net wealth of 'Sharukh Khan'. Extending cash loan, to wife does not come within the definition of asset as provided under Section 2(ea) of the wealth tax Act, thus, it could not be said that there was a transfer of asset; the impugned loan amount was not includible in net wealth of assessee

HC directs Tribunal to reconsider appeal as it ordered pre-deposit without hearing assessee

Excise & Customs : Where assessee had claimed that notice for hearing of stay application was not furnished to him and pre-deposit order was passed by Tribunal without hearing him, High Court remanded matter back to Tribunal

AO couldn't allow Sec. 10A relief on total income enhanced after ALP adjustment of assessee

IT/ILT : Where Assessing Officer initially aggregated business income and also ALP adjustment and thereafter allowed deduction under section 10A, same was in clear violation of section 92C(4)

Failure of Co. to dispatch composite application form while floating right issue was violative of di

SEBI : Failure to dispatch Composite Application Forms (CAFs) by company while floating rights issue would be violative of ICDR Regulations

Authorities rightly determined ALP of service as nil when assessee didn't prove that services were r

IT/ILT: Where assessee had not been able to bring anything on record to prove that services had been actually rendered by AE to it, lower authorities were justified in considering ALP to be nil

Sharp rise in creditors/loans without much increase in scale of operations would be deemed as unexpl

IT: Where assessee challenged assessment on ground of non-receipt of notice under section 143, after a period of three years, and issue of non-receipt of notice was not raised in assessment proceedings, but in revision, notice would be presumed to be duly served on assessee particularly when evidence showing receipt of subsequent notices was on record

No invocation of extended period if penalty was waived off on interpretation of law on disputed issu

Service Tax : Waiver of penalties under section 80 on ground that issue involved is one of interpretation of law, proves that ingredients required for invoking extended period were not present; hence, extended period was not invocable.

No penalty when goods weren't accompanied by import declaration form if there was no intent to evade

CST & VAT : U.P. VAT : Where assessee brought wheat from State of Punjab by rail to its godown in Faizabad and sold same and Assessing Authority having found that wheat was not accompanied by Form 38 imposed penalty under section 54(1)(14) of U.P. VAT Act, since there was no finding with regard to intention of assessee to evade tax, impugned order was illegal

Pre-deposit of interest couldn't be ordered when right of appeal had existed prior to May 11, 2005

Excise & Customs : Where right of appeal had accrued prior to 11-5-2007 owing to earlier litigation between assessee and department and in earlier litigation, Supreme Court held in favour of assessee, Tribunal could not order pre-deposit of interest, as provision to make pre-deposit was introduced only from 11-5-2007