Director's plea to discharge her from alleged violation of CIS norms rejected as she could prove inn

SEBI: Where petitioner director sought for discharge from complaint case filed by SEBI against company for violation of CIS Regulations, petitioner's application was to be rejected as petitioner would get opportunity at trial for proving that she was not concerned with affairs of company at time of alleged offence

ITAT directs AO to rework ALP as it wasn't clear whether assessee was testing chips or developing so

IT/ILT : Where it was not apparent from records as to whether assessee was engaged in software development or simply testing of chips manufactured by its parent company abroad, matter relating to determination of ALP was to be remanded back for disposal afresh

Prior to 1-4-2011, taking land on lease and setting-up factory and plant thereon were input services

Cenvat Credit : Prior to 1-4-2011, lease rental paid for taking land on lease and construction services availed to get factory/plant constructed/erected thereon, are eligible for input service credit

Period of holding is to be computed from date of 'Agreement for sale' if it confers right in immovab

IT : Where 'agreement for sale' conferred rights in immovable property and such rights were capable of being enforced, order under section 263 was bad in law

Sum paid to purchase software isn't royalty as there is no transfer of copyright or patent of softwa

IT/ILT : Where assessee was only a reseller of software products of a non-resident company in India, since transaction in question was in nature of trade, payment made by assessee to non-resident towards purchase of products did not fall within purview of royalty under section 9(1)(vi)