Formula prescribed in rule 6(3A) uses the term 'total credit' and not 'common credit'

Cenvat Credit : Formula in rule 6(3A) of CENVAT Credit Rules, 2004 uses 'total credit taken' and not 'common credit'; hence, while making reversal, total credit (including that relating exclusively to taxable goods/services) will be used

Sale of cars used for test drive purposes couldn't be treated as used cars to get benefit of reduced

CST & VAT : Karnataka VAT - Where a manufacturer had sold units of car to assessee-dealer for demonstration and assessee-dealer used said cars for demonstration and after some time sold same to customers, demo cars sold by assessee could not be treated as used cars

Cash payment by distributors to purchase mobile recharge coupons won't attract sec. 40A(3) disallowa

IT : Where assessee was dealing in mobile recharge vouchers on whole sale basis, payment to principal through ATM would not be disallowed invoking section 40A(3)

Sec. 158BC notice requiring filing of return in 15 days of service of notice was valid; HC upheld bl

IT : By requiring assessee to furnish his return on 15th day from service of notice, Assessing Officer did not commit any illegality nor did he afford less time than what was statutorily available to assessee

HC condones delay in making pre-deposit as disagreement with counsel led to non-receipt of pre-depos

Excise & Customs : Where delay in compliance with pre-deposit order was on account of non-receipt of pre-deposit order by assessee owing to differences with its counsel, said delay was condonable and appeal was to be restored

CLB is competent forum to decide right, interest and title of shares; aggrieved party may file petit

CL: Where transferor did not appear before any forum and did not claim title of share and/or refute claim of petitioner, petitioner was to be considered as bona fide lawful owner of those shares

ITAT asks AO to verify whether payees had paid taxes and filed their return to decide on sec. 40(a)(

IT: No disallowance would be made under section 40(a)(ia), if recipient of payment in question has filed return of income and paid taxes within stipulated time

No ex-parte order holding sale of asset defaulter as void pending application before TRO to lift att

IT : Where application for vacation of attachment had not been disposed of and order declaring agreement of sale as void was passed without personal hearing, matter was to be readjudicated