AO doesn't have powers to change the margins set by TPO, unless specific direction is given by DRP

IT/ILT: Company mainly rendering high-end services involving specialized knowledge and domain expertise in field cannot be compared with assessee-company which was mainly engaged in providing low-end services

Input credit of insurance services may be taken on basis of insurance policy

Cenvat Credit : Input service credit of marine insurance services meant for export goods may be taken on basis of insurance policy, if such policy contains all requisite particulars including registration number and component of service tax

Non-availability of ads of medical relief camps provided by trust won't lead to denial of its regist

IT: Where assessee-society was carrying out charitable activities by organizing medical relief camps for underprivileged sections of society, it could not be refused registration under section 12A on grounds that there was no evidence of holding such camps by way of advertising, etc., or that it did not have complete address of persons getting relief through such camps

Summon order issued under sec. 630 was quashed as board resolution by which complaint was filed was

CL : Where board resolution on basis of which a complaint under section 630 was filed against petitioner was itself under dispute, complaint was not to be dismissed but summoning order passed by trial Court in that complaint was to be quashed

Management/IT courses not recognized by law aren't vocational training courses; liable to service ta

Service Tax : Courses in field of Information Technology, Marketing, Personnel Management, Human Resources Development, etc. which were not recognized by law are liable to service tax and they are not eligible for exemption in respect of 'vocation training'

Case of co. was transferred for coordinated investigation at a place where director of Co. had purch

IT : Where during survey it was found that managing director of assessee-company, had purchased plots in his name and his wife's name in Hyderabad and paid consideration from account of assessee-company and from their individual accounts, assessment case of assessee was transferred to Hyderabad for coordinated investigation

A low risk captive software service provider can't be compared with 'Wipro'

IT/ILT : A low risk captive software service provider cannot compared to high risk bearing companies

Banks to report restructured agricultural loans due to natural calamities to Credit Information Comp

BANKING : Data Format for Furnishing of Credit Information to Credit Information Companies and Other Regulatory Measures

Sum paid to check design/quality of Fire protection system wasn't 'FTS' as it didn't satisfy make av

IT/ILT : Where Finnish enterprise merely provided services to assesse-Indian company to ensure that HV AC, Electrical and Fire Protection systems to be installed by contractor at assessee's factory were of suitable design and quality, such services did not 'make available' any technical knowledge, skill or experience assessee nor was it consisted of development and transfer of a technical plan or technical design to assessee; thus, payments made to Finnish enterprise did not constitute FTS

Return of defective final goods in factory may be recorded as fresh inputs for taking credit thereof

Excise & Customs : Since rule 16 does not prescribe any records, return of defective final products may be accounted for as fresh inputs; and if assessee has shown issuance thereof, then, in absence of any evidence from revenue, they are deemed to have been subjected to re-manufacture

India Mobile And Smartphone Market-Q2-2015

 

Indian Mobile Phone Market Monitor – Q2, 2015

 

The Overall Mobile Phone market in India stood at 60.8 million units in Q2-2015, which is a Q/Q growth of 12.4% and Y/Y decline of 2.5%.

Smartphones contributed 41% of the total mobile phone market with 25 million units in Q2-2015.

After showing a downtrend for two straight quarters, Smartphones market registered Q/Q growth of 23.5% and Y/Y growth of around 30%.

 

 

Ø  Samsung maintained its top position in overall mobile phone market with market share of 18.9%.

 

Ø  In Smartphone segment, although Samsung retained the top position with the market share of 21.5% in Q2-2015 but it witnessed a decline from market share of 28% in Q1-2015. During the same time period Smartphone market has registered Q/Q growth of 23.5%.

 

Ø  Micromax is going steady with its second position capturing market share of 12.6% in overall mobile phone market.

 

Ø  In Smartphone segment, Micromax has notched up its market share to 17.9% in Q2-2015. During Q2-2015 the domestic manufacturing of its smartphones has gone up to 2.5 million units contributing more than 50% of its smartphones portfolio.

 

Ø  INTEX, which entered the Top 5 vendors list of overall mobile phone market in Q4-2014, has continued its upward trend to reach 3^rd position with 9.6% market share of overall mobile phone market in Q2-2015.

 

Ø  INTEX also maintained its 3^rd rank in smartphone segment with market share of 10.2% and sales of over 2.5 million units of smartphones in Q2-2015.

 

Ø  LAVA including Xolo has reached no. 4 position by capturing market share of 8.2% of overall mobile market but it slipped down to 5^th position in smartphone segment with 7% market share in Q2-2015.

 

Ø  Lenovo including Motorola has raced up to 4^th position in Smartphone segment with 7.6% market share in Q2-2015. Its smartphone models A6000 & A6000-Plus did well to put Lenovo marginally ahead of Lava.

 

Ø  Microsoft-Nokia slipped down to 5^th position in overall mobile market, down from 9.4% market share in Q1-2015 to 7.5% market share in Q2-2015.

 

-------------------------------------------------------------------------------------------------------------------------------------------------------

Methods

• The report covers Imports of Completely Built Units (CBU) of Mobile Phones and also domestic manufacturing/assembling in India.

• CBU figures are based on actual imports of Mobiles handsets into India. Mobile handsets which are in transit but not received in India by the end of quarter are not taken into account.

• Domestic manufacturing figures are obtained from Imports of a key component used in mobile phone manufacturing.

 

Cybex Exim solutions Pvt Ltd. tracks Import and Export shipments of India and several other countries.  Cybex prepares analytical reports on various products like Mobile phones, Tablet-PCs, Data Cards, Notebooks etc.

 

Brand-wise Model-wise comprehensive monthly report is available for subscription.

For enquiries, please contact us at amit[@]cybex.in

 

A low risk capitive software service provider can't be compared with 'Wipro'

IT/ILT : A low risk captive software service provider cannot compared to high risk bearing companies

Construction of temporary shed to store materials for modernization and repairing of factory is elig

Cenvat Credit : Construction of temporary shed within factory premises for storing of cement and steel, etc. for set up, modernization, repair, etc. of factory, is eligible for input service credit

PIL filed against Insurance Co. by its ex-employee due to personal spat alleging violation of FDI no

CL : Where PIL filed by petitioner against insurance company and its executives for alleged violation of FDI regulation was coloured by personal prejudice of advocate of petitioner, petition was to be dismissed

Petty cash received from relatives couldn't be held as unexplained

IT : When credit was taken from family members, amount was petty and had been shown in books of account, then there was no occasion to make addition under section 68

Maggi Noodles are still exempt under Gujarat VAT Act

ST : Where Tribunal had exempted 'Maggi Noodles' treating these as 'Sev' and such order wasn't challenged by Department and it proceeded to tax 'Noodles' by treating these as covered under 'Residuary Entry' and not under 'Sev', it could not take a view contrary to that of a Higher Forum, therefore, such order was liable to be quashed.

Indian Mobile Phone Market Monitor – Q2-2015

Indian Mobile Phone Market Monitor – Q2, 2015

 

The overall Mobile Phone market in India stood at 60.8 million units in Q2-2015, which is a Q/Q growth of 12.4% and Y/Y decline of 2.5%.

Smartphones contributed 41% of the total mobile phone market with 25 million units in Q2-2015.

After showing a downtrend for two straight quarters, Smartphones market registered Q/Q growth of 23.8% and Y/Y growth of around 30%.

 

Ø  Samsung maintained its top position in overall mobile phone market with market share of 18.9%.

 

Ø  In Smartphone segment, although Samsung retained the top position with the market share of 21.5% in Q2-2015 but it witnessed a decline from market share of 28% in Q1-2015. During the same time period Smartphone market has registered Q/Q growth of 23.8%.

 

Ø  Micromax is going steady with its second position capturing market share of 12.6% in overall mobile phone market.

 

Ø  In Smartphone segment, Micromax has notched up its market share to 17.9% in Q2-2015 from 12.7% in Q1-2015. During Q2-2015 the domestic manufacturing of its smartphones has gone up to 2.5 million units contributing more than 50% of its smartphones portfolio.

 

Ø  INTEX, which entered the Top 5 vendors list of overall mobile phone market in Q4-2014, has continued its upward trend to reach 3^rd position with 9.6% market share of overall mobile phone market in Q2-2015.

 

Ø  Intex also maintained its 3^rd rank in smartphone segment with market share of 10.2% and sales of over 2.5 million units of smartphones in Q2-2015.

 

Ø  LAVA including Xolo has reached no. 4 position by capturing market share of 8.2% of overall mobile market but it slipped down to 5^th position in smartphone segment with 7% market share in Q2-2015.

 

Ø  Lenovo including Motorola has raced up to 4^th position in Smartphone segment with 7.6% market share in Q2-2015. Its smartphone models A6000 & A6000-Plus did well to put Lenovo marginally ahead of Lava.

 

Ø  Microsoft-Nokia slipped down to 5^th position in overall mobile market, down from 9.4% market share in Q1-2015 to 7.5% market share in Q2-2015.

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Methods

• The report covers Imports of Completely Built Units (CBU) of Mobile Phones and also domestic manufacturing/assembling in India.

• CBU figures are based on actual imports of Mobiles handsets into India. Mobile handsets which are in transit but not received in India by the end of quarter are not taken into account.

• Domestic manufacturing figures are obtained from Imports of a key component used in mobile phone manufacturing.

 

Cybex Exim solutions Pvt Ltd. tracks Import and Export shipments of India and several other countries.  Cybex prepares analytical reports on various products like Mobile phones, Tablet-PCs, Data Cards, Notebooks etc.

 

Brand-wise Model-wise comprehensive monthly report is available for subscription.

For enquiries, please contact us at amit[@]cybex.in

ITAT interprets Article 15 of India-Finland DTAA for supervisory services rendered by Finish enginee

IT/ILT : Where five Finnish engineers though belonging to a Finnish entity do not represent that entity in rendering supervisory services by the engineers for erection, commissioning of the plant in India and there is no agreement between the Indian Entity and the Finnish entity, the tests of taxability of IPS in Art 15(1)(a)(90 days or more presence in India in fiscal year and Art 15(1)(b)(fixed base regularly available to him in India) should be applied to each engineer individually. The perio

Mere establishing identity of share applicants isn't sufficient to discharge onus under sec. 68

IT : Establishing identity of share applicant is not sufficient to discharge initial onus that lay on assessee under section 68; assessee has to further satisfy revenue as to genuineness of transaction and creditworthiness of share applicant or individual who is advancing amounts

Advertisement exp. wasn't includible in transaction value if it was incurred by dealer out of genera

Excise & Customs : Clause in dealership agreements requiring dealers to 'make efforts for promoting sales' cannot be treated as a clause imposing legal obligation on dealers to incur certain level of expenses on advertisement; hence, advertisement expenses incurred and borne by dealers cannot form part of value

No penalty on wrongly claiming sec. 80-IB relief as its details were disclosed in income-tax return

IT : Where assessee had disclosed complete particulars in respect of its claim for deduction under section 80-IB in its return which were accompanied by audit report, there was neither any concealment of income nor furnishing of inaccurate particulars of income so as to attract penalty under section 271(1)(c)

RBI issues directions for approval of acquisition or transfer of control of NBFCs

NBFCs/INDIAN ACTS & RULES : Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2015