Date of e-filing of refund claim is relevant to determine whether claim is time-barred

Excise & Customs : Date of filing of refund claim electronically should be considered as date of filing of refund claim; hence, if refund claim is filed electronically within time limit but hardcopy thereof is filed later on, refund claim cannot be regarded as time-barred

HC sanctioned amalgamation scheme as Co. adhered to all provisions and it was in interest of credito

CL : Where scheme of amalgamation was in interest of members and creditors of companies and provisions of section 391 had been complied with substantially, scheme was to be sanctioned

Conversion of 'Gram Dal' into 'Besan' amounts to manufacture for sec. 80-IB relief

IT : Conversion of gram Dal into Besan amounts to 'manufacture' and, therefore, industrial undertaking of assessee engaged in said activity would be entitled to deduction under section 80-IB(4)

Issue related to valuation of re-imported goods is appealable before Supreme Court

Excise & Customs : Issues as to 'how value of goods is to be determined on re-importation of goods' and 'to what extent exemption notification dated 16-12-1996 is applicable' are not appealable before High Court; appeals, if any, would lie before Supreme Court

No physical verification under sec. 194LA to check whether land was agricultural land which didn't a

IT : Section 194A does not provide any physical verification of assessee to inspect fields and find out whether lands are actually cultivated or not

No need to file refund claim for amount deposited during investigation

Excise & Customs : Amount deposited during investigation is a pre-deposit and where assessee's appeal has been allowed with consequential relief, same must be refunded and there is no need to file refund claim for that purpose

No addition of undisclosed investment on basis of report of DVO without rejecting books of account

IT : Where undisclosed income of assessee was determined by Assessing Officer on basis of valuation done by DVO without rejecting books of account of assessee, Assessing Officer was not entitled to resort to section 69B

Delay caused in filing appeal due to lack of proper guidance to assessee, layman was condonable

Service Tax : Delay caused in filing appeal due to lack of proper guidance is condonable, when it was shown that assessee was a semi-literate labour contractor

Compensation paid by developer on cancellation of an agreement wasn't deductible from income of diff

IT : Compensation paid by developer on cancellation of an agreement was not deductible from income of different project

Period of delay is irrelevant while deciding application for condonation of delay

CST & VAT : Maharashtra VAT - Length of delay is not relevant for considering application for condonation of delay; what is relevant is as to whether a party seeking condonation of delay has made out a case of sufficient cause or not

Tribunal can’t disregard its earlier order completely without any reason

IT: Bombay HC sets aside the order of Tribunal as it failed to indicate why and how its earlier decision would not apply in subsequent assessment year with same facts

Investment by banks in factoring Cos. and their subsidiaries can't exceed 10% of paid-up capital and

BANKING : Review of Provision of Factoring Services by Banks

'Servo Steerol C-6' used as cooling agent and friction reducing product are a 'lubricating preparati

Excise & Customs : 'Servo Steerol C-6' used as cooling and friction reducing product during cold rolling of mild and medium carbon steels is a 'lubricating preparation' and eligible for concessional rate of duty

Preparation and supply of Ready Mix Concrete amount to 'sale', thus not chargeable to Service Tax

Service Tax : Preparing Ready Mix Concrete (RMC) and delivering RMC at site and also performing other incidental activities of pouring, pumping and laying of RMC, etc. amounts to 'sale' and therefore, no part of it is liable to service tax

FCCBs and depository receipts shall not be treated as FDI

FDI/FEMA/ILT :Consolidated FDI Policy Circular 2015 – Introduction of Composite Caps for Simplification of Foreign Direct Investment (FDI) Policy to Attract Foreign Investments

AO couldn't enhance sec. 14A disallowance after rejecting voluntarily disallowance of assessee witho

IT : Where assessee declared tax exempt income and voluntarily disallowed certain expenditure under section 14A, in absence of reason why assessee's claim for disallowance under section 14A had to be rejected, Assessing Officer was not justified in recomputing disallowance

Mumbai Custom Authorities couldn't issue notice for offence committed in Gujarat

Excise & Customs : Where act of import took place at Gujarat, Mumbai Customs Authorities could not issue notice proposing confiscation and penalty in respect of act of import, which took outside their jurisdiction