AO who is engaged in election duty can demand extra time for verification of additional evidence, sa

IT : Where Assessing Officer sought one month time for due verification of additional evidence produced by assessee by stating that he was on election duty and number of cases of assessment in which time limitation was going to expire was pending, Commissioner (Appeals) should accept his demand

No violation of sec. 13 when exp. wasn't incurred on property of trustee as property was gifted to t

IT: Where assessee-trust incurred expenditure towards development expenses on leasehold land gifted by trustees to assessee by HIBA(oral gift), since subsequently said land was transferred to assessee by way of gift deed, trustees were not benefitted in any way, and, thus, there was no violation of provisions of section 13(1)(c)

No illegality was found in proposal to issue and allot shares as resolutions were passed in a duly c

CL: Where company had complied with all formalities in convening and holding AGM, requisite quorum was present and resolutions were passed in a democratic manner and decisions taken in AGM were legal and valid, no case of interference was called for

Interest earned on fixed deposits made by society out of its income is also eligible for sec. 80P re

IT: Where interest income earned by assessee society by providing credit facilities to its members was deposited in banks for a short duration which had earned interest, said interest on deposits was attributable to business of banking of assessee and it was liable to deduction under section 80P(2)(a)(i)

Trust giving educational scholarship can't be said to be engaged in object of general public utility

IT : Scholarships is 'education', not 'any other object of general public utility'. Trust cannot be denied exemption by invoking the first proviso to sec 2(15) where its activities in fact fall within the heads 'education', 'medical relief' and 'relief of the poor' even if its objects allow it to carry on any activity for 'advancement of any other object of general public utility'

Roaming facility doesn’t require human intervention; roaming charges paid by Telecos aren’t ‘FTS’

IT : The provision of roaming services do not require any human intervention and accordingly, cannot be construed as technical services. Thus, payment of roaming charges by telephone operator does not fall under the ambit of TDS provisions under section 194J.

Digital Still Image Video Camera is liable to be taxed at 4% under Delhi VAT

CST & VAT : Delhi VAT - Digital Still Image Video Camera sold by assessee during period 1-4-2005 to 7-8-2005 was not covered under Entry No. 41 of Third Schedule to VAT Act, whereas said product sold during period 30-11-2005 to 31-12-2007 would fall under clause 15 of Entry No. 41A of Third Schedule

Exp. incurred on repairing of Multiplex building is revenue exp.

IT : Where expenditure on account of repairs and maintenance of buildings and theatres was only for purpose of carrying on of business and did not bring any capital asset into existence, same was to be treated as revenue in nature

Profit from forex fluctuation is an operating income; to be considered while determining ALP under t

IT/ILT : Foreign exchange fluctuation income is an operating income and thus same has to be taken into consideration while determining ALP of international transactions entered into by assessee

No dismissal of rectification plea on basis of objection of revenue without giving hearing opportuni

IT : Where on a rectification application filed by assessee, under section 254(2), Tribunal dismissed appeal in view of revenue's preliminary objection, a prejudice was caused to assessee and appeal was to be decided again

Appeal filed belatedly without any Condonation application is liable to be dismissed

Service Tax : Where belated appeal has been filed without any application for condonation of delay, appeal is liable to be dismissed as time-barred and Commissioner (Appeals) is not duty-bound to notify said defect