No reassessment to disallow sec. 10A relief if all material facts for claiming relief were disclosed

IT: Where all material facts relevant to section 10A deduction were before Assessing Officer during course of original assessment, reopening of assessment on ground that deduction under section 10A was wrongly allowed would be a clear case of revisiting claim which was impermissible

Tribunal doesn't have power to review its own order

Service Tax/Excise/Customs : There is no provision conferring jurisdiction on Tribunal to review order condoning a delay of mere nine days for detailed reasons; hence, revenue's application was dismissed as frivolous with costs Rs. 10,000

Even usage of family's brand name by individual would be considered for SSI-exemption

Excise & Customs : Family brand name allowed to be used by assessee and other family members as per family settlement deed, is assessee's owned brand name and use thereof would not disentitle assessee from SSI-exemption

No penalty on assessee for his failure to pay MAT on exempt income as he was unware of amended provi

IT : Where assessee was unaware of amendment made during current year whereby long term capital gains were to be taken into consideration while determining book profits under section 115JB, penalty for concealment could not be imposed

CCI simplifies M&A filing requirements; requires publishing of summary of combination under review o

COMPETITION ACT/INDIAN ACTS & RULES: Competition Commission of India (CCI) proposed to amend its combination regulations

FDI prohibition is only in manufacturing of tobacco and not in its wholesale and retail trading

FEMA/ILT : Investment in companies engaged in tobacco related activities

Transaction of trading can't be compared with transaction of selling goods on commission basis under

IT/ILT : Indenting transaction being different from trading transactions to AEs, commission percentage from AE transactions should be benchmarked on basis of commission rate earned from non-AE transactions under 'Indenting business' only

Prior to 1-4-2011, services used for 'setting up' factory were eligible for credit as input services

Cenvat Credit : Prior to 1-4-2011, services used in relation to setting up of factory were eligible for input service credit because factory is setup for manufacture of final products which are liable to Central Excise duty

Delay in filing appeal before Commissioner(A) can't be condoned by High Court under its writ jurisdi

Excise & Customs : Delay in filing appeal before Commissioner (Appeals) beyond his maximum limit, cannot be condoned even by High Court under its appellate and/or writ jurisdiction

No reassessment to deny sec. 54 relief if assessee had carried out construction within 3 years of tr

IT: Where assessee had submitted supporting evidence that construction activities were carried out within a period of three years from date of transfer of capital assets, matter was to be remanded for consideration of exemption under section 54F