IT/ILT : A captive unit of a comparable company which assumes only a limited risk, cannot be compared with a giant company in area of development of software who assumes all types of risks leading to higher profits
Sunday 20 September 2015
No vicarious liability of College Chairman for cheque bouncing if college wasn't arrayed as on accus
Negotiable Instruments Act : Where borrowings were effected for development of college, Chairman of college could not be proceeded against under section 138 on dishonour of cheque issued towards repayment of loan, if college was not arrayed as an accused
Sale at factory-gate wasn't undervalued merely because stock statements showed higher value of goods
Central Excise : Merely because price at godown (or in stock statements) was here, department cannot allege undervaluation in case of factory-gate sales
Sum paid to foreign consultant for interior designing of hotel isn't FTS
IT/ILT: Where there is no transfer of technology, technical know-how or any technical knowledge or skill that assessee can apply in furtherance of his business objects, payments for same to a Singaporean company does not fall within scope of 'fees for technical services' as per India-Singapore DTAA
ITAT could review its own order when it noticed that assessee wasn't duly served with hearing notice
IT : Appeal against Tribunal's order was rejected where Tribunal merely remanded issue of computation of deduction under section 80HHC to Assessing Officer for fresh consideration
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