Uniform allowance paid to employees isn’t exempt if no dress code has been specified for employees

IT : No exemption under section 10(14) shall be granted in respect of uniform allowance paid to employees if there is no dress code and the employees are free to wear any dress. ITAT has directed assessee-employer to include such allowance in salary of the employees for the purpose of deduction of tax under section 192

No need to reverse Cenvat credit when waste/scrap arising at end of job-worker isn't received back i

Cenvat Credit : There is no provision for reversal of input credit in case of clearance of waste and scrap and/or their non-return from job worker's premises

Increased profit due to TP adjustment not brought into India in foreign exchange was excludible for

IT/ILT : Where assessee having under priced its services to AEs, made transfer pricing adjustment suo moto, in view of fact that assessee could not bring increased profit on account of said adjustment in India in convertible foreign exchange within stipulated time, assessee's claim for exemption under section 10B was to be recalculated after excluding aforesaid amount

ITAT quashed reassessment as revenue failed to establish service of reassessment notice to assessee

IT : Service of notice under section 148, for purpose of initiating proceedings for reassessment is not a mere procedural requirement but it is a condition precedent to initiation of proceedings for reassessment

Department can't attach new properties if it already attached assets having value more than the tax

CST & VAT : Gujarat VAT - Where against estimated liability of assessee of Rs. 4.5 crores, his immovable property worth Rs. 5 crores was already under attachment, interest of Government revenue had been fully protected and, therefore, provisional attachment of bank accounts of assessee under section 45 was not justified

Govt. notifies Aditya Birla Nuva, Marico and DCM Shriram to undertake agriculture extension project

IT : NOTIFICATION NO. 52/2015 [F.NO.203/20/2015-ITA.II], NOTIFICATION NO. 53/2015 [F.NO.203/21/2015-ITA.II], NOTIFICATION NO. 54/2015 [F.NO.203/23/2015-ITA.II], DATED 26-6-2015

CBDT invites suggestions from officials for augmenting tax collections and widening of tax base

IT : Suggestions on Augmenting Tax Collections

If dispute involves penalty then pre-deposit may be ordered even if goods are lying under control of

Excise & Customs : When issue involved is of penalty and not of duty, pre-deposit of penalty may be ordered even if goods are in custody of department

No denial of sec. 80-IB relief due to violation of condition of max built-up area by a few housing u

IT: Where assessee had violated provisions of section 80-IB(10)(C) in respect of two units of housing project, denial of deduction under section 80-IB would be limited only to said two units and for balance units assessee would be entitled to deduction