Assessee can't be insisted to pay any amount for hearing appeal if department already had sufficient

CST & VAT : Gujarat VAT - Where sufficient security was available with department by way of attachment of properties of assessee, appeal filed by assessee against order of assessment was required to be heard on merits without payment of any amount

ITAT rightly held that transaction in shares were investment and not business transaction: HC

IT: Where both appellate authorities concurrently on basis of evidence held that transaction in shares held by assessee was in nature of investment, no interference was called for

Income from letting out of property of educational institution not taxable if same was used for educ

IT : Where assessee-trust generated income by giving hall and premises of its educational institution on rentals and said income was used for educational institution itself, such income could not be brought to tax

Bench of same strength can't disagree with a view taken by earlier bench; it must refer matter to la

Excise & Customs : Second bench of same strength cannot disagree with view taken by First Bench; instead, second Bench should refer matter to a Larger Bench for appropriate decision

Ongoing works contract commenced prior to 1-6-2007 may be reclassified under works contract service

Service Tax : In case of ongoing projects prior to 1-6-2007, assessee may seek reclassification under works contract services, but, assessee cannot switch over to Composition Scheme and cannot avail abatement under Notification No. 1/2006-ST; however, benefit of valuation rule 2A would be available subject to documentary evidences

Dealings by appellant opposite to predictions of market analysts doesn't prove that he was involved

SEBI : Where number of market analyst had recommended selling shares of LTFH in futures and options (F&O) segment and appellant had made profit by entering into such transaction, appellant could not be said to be privy to unpublished price sensitive information in entering such transaction

Income from letting out of educational institution not taxable if same was used for educational purp

IT : Where assessee-trust generated income by giving hall and premises of its educational institution on rentals and said income was used for educational institution itself, such income could not be brought to tax

CBDT notifies nature of business relationship which CA can have with client to ensure his independen

IT/ILT : Income-Tax (Ninth Amendment) Rules, 2015 – Insertion of Rule 51A

Trust's registration denied as building of educational institution is under construction

IT: Where assessee claimed registration under section 12A to administer educational institution but it was found that buildings for starting educational institution were under construction, assessee was not entitled for registration since no charitable activity was carried out during year

Auditor's certificate can't be a substitute for TP study to benchmark international transaction

IT/ILT : Auditor's certificate spelling out Head Office 'HO' overheads as a percentage of revenues of Indian Entity cannot be accepted as the basis for determining whether reimbursement for head office expenses received from overseas JV under agreement is on arm's length basis. The same will have to be benchmarked to an external comparable for determining Arm's Length Price. Auditor's certificate cant be substitute for Transfer Pricing study (TP Study) even though such certificate as basis for

Duty paid 'voluntarily' isn't 'duty paid under protest' for purpose of extending time limit for refu

Excise & Customs : Where it was found that assessee had paid duty voluntarily without insistence of department, same could not be regarded as 'duty paid under protest' for purpose of extended time-limit for refund claim

Co. providing Pharma support services can't be compared with a Co. providing consulting in infra sec

IT/ILT : Where TPO made certain addition to assessee's ALP in respect of rendering pharma support services to its AE, in view of fact that some comparables selected by TPO were Government companies engaged in providing consultancy services in water, power and infrastructure development and thus there existed functional difference, impugned addition deserved to be set aside

Govt. grants TDS exemption on all incomes other than business profits received by Category I and II

IT : SECTION 197A of the Income-Tax Act, 1961 - Deduction of Tax at Source - No Deduction in Certain Cases - Specified Payment under Section 197A(1F)