IT : Where material and information relied upon by revenue had been procured subsequent to passing of order by Tribunal, there was no mistake rectifiable under section 254(2)
Monday 9 March 2015
Registration granted to trust couldn't be revoked due to amendment in definition of 'charitable purp
IT: Where activities carried on by assessee trust were in accordance with objects of trust, registration could not be cancelled; unless assessee falls within section 2(15) excluding first proviso, assessee would not be entitled to exemption
[Central Excise Tariff Notification] : Seeks to amend notification No. 12/2012-CE, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, the 4th March, 2015
Corrigendum
G.S.R. (E).- In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 12/2015-Central Excise, dated the 1st March, 2015, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 142(E), dated 1st March, 2015,
(i) in page 45, in line 25, for "52" read "52A";
(ii) in page 47,
a) in line 34, for "51" read "52";
b) in line 38, for "52." read "52A.".
[F. No. 334/5/2015- TRU]
(Pramod Kumar)
Under Secretary to the Government of India
COMPAT quashed appeal alleging abuse of dominance as it was filed with ulterior motive to coerce opp
Competition Law : Where informant filed information against OPs alleging abuse of dominant position by imposing unfair and discriminatory price in purchase or sale of goods and sole object of information was to coerce OPs to extend term of agreement which stood terminated, information being motivated and no case of abuse of dominance being made out, appeal was to be dismissed
No invocation of extended period against assessee when department had dropping his earlier proceedin
Excise & Customs : Where proceedings for earlier period are dropped by department, assessee may have a bona fide belief for subsequent period that duty/tax is not payable; hence, since all facts are already within knowledge of department, department cannot invoke extended period of limitation
ITAT rejected internal CUP method applied by TPO following its earlier order as facts remained uncha
IT/ILT : Following Tribunal's order for preceding assessment year rejecting internal CUP method applied by TPO on identical facts and remitting matter to Assessing Officer, issue of TP adjustment for relevant assessment year was remitted to Assessing Officer for fresh adjudication
Tribunal had to reconsider imposition of penalty as it failed to appreciate peculiar facts of case
CST & VAT : Uttar Pradesh VAT - Where Tribunal had not considered whether goods in question was taxable and further, demand notices were served on assessee company instead of receiver appointed by High Court, issue of imposition of penalty was to be reconsidered
No revision by CIT to make sec. 68 addition if AO had obtained confirmation of parties in support of
IT: Where assessee furnished confirmations from all debtors and creditors having balance in excess of one lakh in their bank account which was duly verified by Assessing Officer, impugned revisional order passed by Commissioner on ground that a case for addition under section 68 was made out, was not sustainable
Pre-deposit ordered by Tribunal without considering plea of undue hardship wasn't justified
Excise & Customs : Where Tribunal passed stay order directing full pre-deposit : (a) without even considering merits and financial hardship and (b) that too, in non-appearance of assessee where it was not established that assessee had received notice of hearing, Tribunal order was 'prejudiced' against assessee and was set aside
No VAT liability on assessee as it had raised bill only for labour charges and not for materials
CST & VAT : Karnataka VAT - Where assessee, a sub-contractor, raised bill for certain amount, which was only labour charges, assessee was not liable to pay tax on said amount under section 15
Bank issuing letter of credit was liable to seller for purchase price when seller had furnished rele
UCP - Letter of Credit has effect of creating a bargain between banker and vendor of goods, a deemed nexus between seller and Issuing bank, rendering latter liable to seller to pay purchase price or to accept a bill of exchange upon tender of documents envisaged and stipulated in LC
HC stayed pre-deposit as revenue already had 25% of demand in the form of refund dues of assessee
IT: Where 25 per cent of demand was already with revenue in form of refund due to assessee, condition to deposit 50 per cent of demand for stay of assessment order pending disposal of appeal was not proper
Credit of additional excise duty on textile articles can't be used to pay BED
Excise & Customs : Accumulated credit of Additional Excise Duty (Textile and Textile Articles) cannot be used to pay Additional Excise Duty (Goods of Special Importance) or Basic Excise Duty; however, assessee can claim refund thereof as per law
Sec. 10A : Exp. incurred in foreign currency to provide technical services abroad is excludible from
IT: Expenses incurred in foreign currency on telecommunication charges and providing technical services outside India should be excluded from total turnover for purpose of computation of deduction under section 10A
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