SAT quashes SEBI’s order barring DLF from accessing capital markets for 3 years

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Tribunal cannot decide upon issue of constitutionality or legality of a Rule, rules Bombay High Cour

CST & VAT : Maharashtra VAT - Where Assessing Authority had disallowed assessee's claim for set off under rule 41E and Tribunal upheld claim of assessee by concluding that rule 41E was 'to the extent the same imposing a condition of user within State' liable to be ignored, issue of constitutionality and legality of rule 41E could not have been decided by Tribunal

Mere report of Valuation Officer isn’t sufficient to reopen an assessment of builder

IT : Report of Valuation Officer would not constitute any additional information; therefore, re-opening of assessment under section 147 was not valid

No penalty on disallowance of capital gains if disclosure was made to identify investment and stock-

IT : Where assessee had disclosed all particulars relating to capital gain on sale of shares in return and balance sheet, no penalty could be levied under section 271(1)(c) merely because Assessing Officer treated such capital gain as business income of assessee

Unexplained delay in passing and serving of detention order without any exceptional circumstances wa

COFEPOSA : Where there was unexplained delay in passing and serving detention order without any exceptional circumstances to justify delay, detention order was unsustainable

CBDT issues instructions for CsIT related to non-migration of PAN due to pending refund caging

IT : Section 139A of the Income-Tax Act, 1961 – Permanent Account Number – Non-Migration of Pans Due to Pending Refund Caging

Refund on service used for export can be claimed within 1 year if refund claim is filed on or after

Service Tax : In case of services used for export of goods, service tax paid on or after coming into force of Notification No. 17/2009, may be claimed as refund as per new Notification No. 17/2009 within 1 year from export, even if goods were exported during earlier period

No denial of credit on capital goods even if they aren't owned by assessee at the time of their rece

Cenvat Credit : There is no requirement that capital goods, at time of receipt, must be owned by manufacturer or that same would cease to be capital goods, if they are installed in factory and become fixed to earth; hence, credit cannot be denied on ground that they are not owned by assessee at time of receipt or after installation, they become fixed to earth

AO rightly rejected books of timber trader as he didn't mention quality of timber on sales vouchers:

IT : Where assessee, engaged in trading of timber, did not mention quality of timber on sale vouchers, even though it had purchased timber at different rates according to quality of timber, Assessing Officer rightly rejected assessee's books of account holding that stock register was not maintained properly

Writ jurisdiction can't be invoked when alternative statutory remedy is already barred by limitation

Service-tax : Once statutory remedy is 'barred by limitation', remedy comes to an end and same cannot be entertained invoking writ jurisdiction; hence, writ petition was to be dismissed when same was filed after expiry of time-limit of filing appeal

Compounding of offence by CLB is quasi-judicial function; it is properly discharged only if order is

CL: Function of Company Law Board, while acting under section 621A is quasi judicial in nature and same could be said to have been properly discharged only if it passes an order in writing as mandated by regulation 29

Govt. notifies 'IIT, Varanasi' as scientific research association under Sec. 35(1)(ii)

IT : Section 35(1)(ii) of the Income-Tax Act, 1961 - Scientific Research Expenditure - Approved Scientific Research Associations/institutions - Indian Institute of Technology (BHU), Varanasi