No tax on Joint Venture Co. as no receipts were found in its books and work was done by its constitu

IT : Where assessee- joint venture company did not execute contract work on its own and same was done by one of its constituents, as there was no finding of receipt of any income by assessee on account of said contract, same would not be taxable in its hands

PLI of BPO can't be compared with PLI of KPO for transfer pricing analysis

IT/ILT : While entities rendering Voice Call Center services for customer support and a KPO service provider may be employing IT-based delivery systems, the characteristics of services, the functional aspects, business environment, risks and the quality of human resource employed would be materially different. It plainly follows that benchmarking international transactions on the basis of comparing the PLI of high-end KPO service providers with the PLI of Voice Call Centers would be unreliable a

Tribunal can't dismiss appeal due to non-prosecution without adjudication on merits

Excise & Customs : Tribunal does not have power to dismiss appeal for default or for want of prosecution, without adjudication on merits; and if appeal has been so dismissed, Tribunal must restore same subject to reasonable conditions

Service Tax could not be levied to indivisible works contract prior to 1-6-2007

Service Tax: Where Parliament imposed Service Tax on works contract for the first time in 2007, works contract entered into before said date were not liable to Service Tax as there was no charge or machinery to levy Service Tax on indivisible works contract before 2007

SEBI proposes to allow Infra Investment Trusts to invest in two level SPVs and to reduce sponsor's c

SEBI : Consultation Paper for Amendments to SEBI (Infrastructure Investment Trusts) Regulations, 2014

AO can't make reassessment without serving notice of further evidence

CST & VAT : Karnataka VAT - Only condition for making further reassessment under section 39(2) in addition to earlier reassessment is when authority takes notice of further evidence

Portfolio management services aren't comparable with investment research and advisory services for T

IT/ILT: A company providing portfolio management services cannot be compared to a company providing investment research and advisory services on a non-exclusive and non-binding basis

Tribunal may dismiss appeal without deciding case on merits if pre-deposit order hasn't been complie

Excise & Customs : In case of non-compliance with pre-deposit order of Tribunal, Tribunal need not decide appeal on merits and assessee's appeal would stand dismissed for default

Sum retained in contract subject to completion of defect-free period will be taxable on receipt basi

IT : Where right to receive contract amount was contingent upon there not being any defects in works during stipulated period, said amount could accrue only on its being received

Dept. had to establish that assessee was involved in illicit transportation of goods for levying pen

CST & VAT : West Bengal VAT - Imposition of penalty upon assessee under section 79 was unjustified, unless it was established that it was assessee itself which transported on its own account or on account of a consignee manufactured product of it without requisite documents from one place in West Bengal to another place in West Bengal

While granting registration DIT couldn't insist on trust to obtain registration from Govt. of Andhra

IT : For purpose of obtaining registration under section 12AA, a trust or institution was not required to get itself registered under section 43 of Andhra Pradesh Charitable and Hindu Religious Institutions and Endowments Act, 1987

Govt. enables online filing of form FC-TRS for transfer of shares between NRs and Residents via e-Bi

FEMA/ILT : Foreign Direct Investment – Reporting Under FDI Scheme on e-biz Platform

No recovery during pendency of adjudication; only provisional attachment can be made

Service Tax : During pendency of adjudication proceedings, only 'provisional attachment' under section 73C (service tax) can be made; recovery under section 87 would apply only after adjudication order is passed under section 73

Providing machinery alongwith operator wasn't sale transaction

CST & VAT : Tripura VAT - Where assessee entered into a contract with ONGC for digging directional well and opening portion of contract provided that contract had been entered into for hiring of machinery, drilling jars and bits along with services of directional drillers at various places, contract did not amount to sale

Sec. 158BD notice quashed as AO failed to record satisfaction that undisclosed income belonged to ot

IT : Where Assessing Officer issued notice to assessee without recording its satisfaction, said notice was liable to be quashed

Govt. enables online filing of form FCTRS for transfer of shares between NRs and Residents via e-Biz

FEMA/ILT : Foreign Direct Investment – Reporting Under FDI Scheme on e-biz Platform