Tribunal could decide upon validity of demand, even if same was based on a Circular

Service Tax : Merely making a reference to some Circular in adjudication order would not mean that Appellate Authorities cannot be approached or that they will not view matter in proper perspective; hence, even if demand is based on circular, assessee must file statutory appeal instead of writ

HC directs AO to refund seized amount with interest to the extent it exceeded the tax liability of a

IT : Where amount retained by department under section 132 exceeded amount required to meet assessee's liability under section 132B(1), department was liable to make payment of interest from date of expiry of 120 days under section 132(4) to date of block assessment

Certificate of dispute settlement discharged assessee from payment of arrears of tax, penalty, and i

CST & VAT: Where assessee, in terms of Andhra Pradesh Sales Tax (Settlement of Disputes) Act, 2001, applied for settlement of dispute relating to three years and it was issued Certificate of Settlement, it shall be discharged from its liability of paying balance amount of arrears of tax, penalty or interest, if any

Resale Price Method can't be applied to benchmark export of goods to AE, rules Lucknow ITAT

IT/ILT : Resale price method is applicable where there is purchase of property or service from associated enterprise and not in respect of exports

Time-limit of one year to file refund claim doesn't apply to amount wrongly paid as 'Service Tax'

Excise & Customs : Section 11B of Central Excise Act, 1944 applies only to amount having colour of 'tax'; amount wrongly paid as 'service tax' without even charge of service tax, does not colour of 'tax' and therefore, time-limit of section 11B would not apply to refund of said amount

Even State Govt. is liable to service-tax on renting of immovable property

Service Tax : Renting of immovable property by State Government Departments can be charged to service tax by Parliament and hence, service tax is payable thereon except up to extent services fall under negative list

Exp. incurred by 'Northern Coalfields' on laying of roads in coal mines was allowable as business ex

IT : In case of assessee-company, engaged in coal mining, expenditure incurred on overburden removal in process of extraction of coal, was to be allowed as business expenditure

Payment made even for an oral contract would invite TDS under sec. 194C

IT : A contract need not be in writing as even an oral contract is good enough to invoke provisions of section 194C

Mandatory pre-deposit provisions wouldn't apply when Show Cause Notice were issued before 6-8-2014

Excise & Customs : Amendment in section 35F by way of mandatory pre-deposit, being prospective from 6-8-2014, is not applicable where proceedings were initiated with issuance of show-cause notice prior to 6-8-2014

Assessee was liable to penalty as it declared correct capital gains only after an explanation was so

IT : Where assessee had declared correct amount of capital gain, only after an explanation sought by Assessing Officer and it was not a case of suo motu explanation, Assessing Officer liable to invoke penalty proceedings under section 271(1)(c)

Non-granting of opportunity to distinguish between precedents to be relied upon amounts to denial of

Excise & Customs : Assessee must be granted an opportunity to distinguish precedents sought to be relied upon; any non-compliance therewith would amount to 'violation of natural justice' and order would be liable to be set aside

No denial of sec. 54F benefit due to non-completion of construction in all respects within 3 years

IT : Where assessee had invested net sale consideration on transfer of long-term asset in construction of a residential house property, deduction of section 54F could not be denied merely because the construction of house was not complete in all respects within 3 years of transfer

Assessment on facts later found to be false won’t bar re-assessment by AO

IT : Having wilfully made false or untrue statements at time of original assessment and when that falsity comes to notice, it is not fair on part of petitioner to turn around and say "you accepted my lie, now your hands are tied and you can do nothing"

Statement recorded after one month of search couldn't form basis of assessment

IT : Block assessment on basis of imaginations and surmises, not founded on established facts is not sustainable

No concealment penalty when AO failed to record satisfaction that there was concealment of income/pa

IT : Where Assessing Officer had not recorded satisfaction that there was concealment of income, or furnishing of inaccurate particulars, no penalty could be levied under section 271(1)(c)

Now cost of land shall be excluded for valuation of works contract under Haryana VAT

VAT/INDIAN ACTS & RULES : Haryana Value Added Tax (Amendment) Rules, 2015 – Amendment in Rule 25

Insurers must obtain 'annuity option' from policyholders at proposal stage itself : IRDA

INSURANCE : Obtaining Annuity Options from Policy Holders

Haryana VAT Act includes provision for e-filing of returns

VAT/INDIAN ACTS & RULES : Haryana Value Added Tax (Second Amendment) Ordinance, 2015 – Amendment in Sections 2, 16, 34 & 60; Substitution of Sections 8, 15A & 17 and Insertion of Section 54A in Haryana Value Added Tax Act, 2003