Govt. waives off certain obligations of body corporates carrying on business of Insurance in SEZs

INSURANCE : Section 2CA, read with section 2C, of the Insurance Act, 1938 – Applicability of provisions of this act to Special Economic Zones – Insurance business in Special Economic Zones

Adjudication order can't be challenged in writ jurisdiction if appeal against it becomes time-barred

Service Tax : If appeal against adjudication order has been dismissed as time-barred by Commissioner (Appeals) being beyond his power of condonation, said adjudication order becomes final and cannot be challenged even in writ jurisdiction

Assessee couldn't retract admission of offence once it applied for compounding

CST & VAT : Kerala VAT - Against order of Intelligence Officer passed under section 74, assessee filed appeal under section 55, assessee could not be permitted to go back on admission that formed basis of acceptance of his application for compounding under section 74, therefore, he could not have availed of appellate remedy against order of Intelligence Officer

Liquid Medical Oxygen IP is taxable at 5% under AP VAT Act

CST & VAT : Andhra Pradesh VAT - Where assessee manufactured liquid medical oxygen IP, medical grade oxygen and nitrous oxide IP under a licence granted under Drugs and Cosmetics Rules, 1945, these goods would fall under Entry No. 88 of Fourth Schedule to VAT Act

No disallowance of interest if no nexus established between bank loans and interest free advances to

IT : Where assessee-company had its own sufficient funds and revenue was unable to prove nexus between borrowed funds and advances given to sister concerns, notional interest disallowed by Assessing Officer was to be deleted