Sunday, 20 September 2015

Co. providing complex product development services can't be compared with Co. rendering only develop

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

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