TPO gets flak from ITAT for comparing a trading concern with manufacturing concern for TP purposes

IT/ILT: Where assessee-company was engaged only in trading of Grey Bentonite Clay, a company engaged in manufacturing of Bentonite could not be selected as comparable

ITAT reduces disallowance as claim was reasonable even if certain vouchers were self-made and not ve

IT: Deduction on account of 'raw material discarded' could not be allowed to assessee where it could not furnish any relevant detail to satisfaction of Assessing Officer

Reassessment upheld as assessee claimed sec. 80-IB relief without declaring that he didn't have lice

IT : Where during original assessment proceedings, assessee-company had not declared to department that it did not possess factory license to manufacture and claimed deduction under section 80-IB, initiation of re-assessment proceedings was justified

ST demand on services provided to holding-co. won't arise if corporate veil of subsidiary-co. is lif

Service Tax : Where corporate veil is lifted and Indian subsidiary is treated as 'alter ego'/'establishment' of foreign holding company, then, for period prior to 1-7-2012, they would amount to 'same person' and any service between them would be a 'self service' not liable to service tax

Petitioner had violated FEMA norms by payment of customs duty payable by NRI on import of Car: HC

FEMA : Payment towards customs duty payable by non-resident Indian while importing a car was in violation of provisions of FEMA

TPO gests flak from ITAT for comparing a trading concern with manufacturing concern for TP purposes

IT/ILT: Where assessee-company was engaged only in trading of Grey Bentonite Clay, a company engaged in manufacturing of Bentonite could not be selected as comparable

Collection centers working for Path Labs can't be compared with trader of goods to decide TDS liabil

IT : Traders of goods cannot be compared with service providers / collectors/ aggregators working with pathological laboratories, as latter provide only agency services

Govt. promotes ease of doing business in India; eases SEZ rules for removal of goods to DTA

SEZ : Simplification of Sez Rules – Inter Unit Transfers

Order pronounced by ITAT beyond 90 days from date of conclusion of hearing isn't bad in law

IT : Order of ITAT does not become bad in law if pronounced beyond 60/90days as prescribed in Rule 34(5)(c)

CBDT directs its officials to complete PAN migration activity as per new jurisdiction orders by Apri

IT : Section 139A of the Income-Tax Act, 1961 - Permanent Account Number (PAN) – Completion of PAN Migration Activity as Per New Jurisdiction Orders Post Restructuring

HC allows sec. 54F relief even if sale proceeds not deposited in CG scheme as assessee intended to i

IT: Where assessee had already started construction of a residential house within one year prior to date of sale of land and utilised entire sale consideration within three years from date of transfer of land, he could not be denied exemption under section 54F

Glazing and wall cladding works on commercial building is liable to service tax

Service Tax : Structural glazing, spider glazing and wall cladding works on high rise and commercial buildings is liable to service tax, prima facie, on amounts billed but credit on inputs is available thereagainst

AO of searched person has to record satisfaction that undisclosed income belongs to other person u/s

IT : Satisfaction of Assessing Officer of person searched or against whom an order under section 132A has been passed, that any undisclosed income belongs to a third person, is prerequisite before proceedings under section 158BD are initiated

Doctrine of unjust enrichment won't apply where price charged for services was inclusive of all taxe

Service Tax : Where prices are inclusive of all taxes, refund of excess tax if any paid by service provider cannot be hit by 'doctrine of unjust enrichment', as there is no specific collection of service tax

Construction of Women Hostel and Synthetic Track in University weren't ‘Commercial/Industrial Constr

Service Tax : Construction of 'Women Hostel' and 'Synthetic Track' in University awarded by National Highway Department does not, prima facie, amount to 'Commercial or Industrial Construction Services', as said constructions are not 'commercial'

Sum received under MOU entered with owner to identify buyers for property was taxable as business in

IT: Where assessee entered into a memorandum of understanding with owner of property for a consideration, to identify buyers of property, and he had no intention to acquire capital asset in lieu of transfer and only facilitated transfer of capital asset from owner to purchaser and made profits, such profits would be assessible as business income and not capital gains

Construction of Women Hostel and Synthetic Track in University weren't 'Commercial/Industrial Constr

Service Tax : Construction of 'Women Hostel' and 'Synthetic Track' in University awarded by National Highway Department does not, prima facie, amount to 'Commercial or Industrial Construction Services', as said constructions are not 'commercial'

No TP addition by AO on basis of notional price instead of using actual price charged from non-AE un

IT/ILT : It is actual transaction of charging or paying price in a comparable uncontrolled transaction which is to be considered for purposes of determining ALP under CUP method and there can be no question of substituting such actual price charged with a notional price which could have been charged

Confirmation of postal authorities is sufficient to prove service of assessment order in time

IT : Where postal authorities evidenced that assessee had received copy of assessment order within prescribed time, contention of assessee that he received same late, was unjustified, and, revision petition filed by him against said order was time barred

ITAT directs AO to make same disallowance u/s 14A which was made in earlier year, as facts remained

IT : Where in earlier assessment year, Assessing Officer had worked out disallowance under section 14A at 10 per cent of exempt income from composit activity, on similar fact in current year, basis of disallowance was to be same

No reassessment on basis of auditor's objections when AO was aware of controversy at assessment stag

IT : Where reassessment proceedings made on basis of audit objection and mere change of opinion on same set of evidence on record, available at time of assessment, reassessment was to be quashed

Delay in filing plea for recalling winding up order couldn't be condoned as there was no sufficient

CL : Where there was no sufficient cause for delay in filing application for recall of order of admission of winding up petition after same had been advertised, application was to be dismissed

Comparable excluded/included earlier had to be given same treatment in later years if facts remained

IT/ILT: Where a company had been included/excluded from list of comparables in earlier years, consistent with view taken in earlier years and there being no change in facts and circumstances in instant year, same had to be included/excluded in list of final comparables