Tenancy rights of a notified person over flat were rightly disposed off due to existence of undisput

Special Courts Act: Where appellant was declared as notified party and its tenancy rights over a flat came to be attached and there was no dispute as to liabilities outstanding for statutory period, tenancy rights of appellant had been rightly disposed of

Compensation received by prospective employee on termination of employment contract isn’t taxable

IT : An amount received by a prospective employee 'as compensation for denial of employment' was not in nature of profits in lieu of salary. It was a capital receipt that could not be taxed as income under any other head

Amendment clarifying that seized assets can't be adjusted against advance tax liability is prospecti

IT : Explanation 2 to section 132B as inserted by Finance Act, 2013 with effect from 1-6-2013 is prospective

No reassessment when info on concealed income was already existing at time of assessment

IT : Where information regarding long-term capital gain on sale of shares was already existing on file of assessee and did not come up as an issue for first time during reassessment proceedings, said amount could not be treated as an escaped income chargeable to tax under section 147

DRP can't pass a non-speaking order without considering arguments raised by assessee

IT/ILT: Where assessee raised specific grounds before DRP against transfer pricing adjustment made by TPO, being first appellate authority it was duty of DRP of pass a reasoned order after meeting arguments raised by assessee

No need to take approval of inspecting Commissioner while making revision on directions of CIT

IT : Where Commissioner cancelled assessment order passed under section 143(1) and directed Assessing Officer to make assessment of assessee afresh, it was not necessary to seek previous approval of Inspecting Assistant Commissioner before issuing notice under sub-section (2) of section 143

Reassessment notice was void as it was issued by AO before recording of reasons for escapement of in

IT : In terms of section 148(2), reasons to believe must be recorded before issue of notice under section 148 and, therefore, notice issued under section 148 before recording reasons was not a legally valid notice

Sale proceeds of auctioned Airplane to be deposited in Court for recovery of service-tax dues of 'Ki

Service Tax : With a view to recover service tax dues pertaining to Kingfisher, Bombay High Court allowed auction of aircraft taken on 'finance lease' by Kingfisher but, in view of lessor's contention that aircraft is lessor's property, sale proceeds were directed to be deposited into Court

CPM is most appropriate method in case of contract manufacturers subject to satisfaction of Rule 10C

IT/ILT: As a general rule CPM would be MAM in case of contract manufacturers but that would be subject to satisfaction of parameters laid down in rule 10C(1) and (2) of Rules

HC denied to interfere with order of ITAT as revenue failed to point out any perversity in such orde

IT : Where Tribunal deleted addition on account of non-genuine gifts, jewellery etc. and revenue was unable to point out any perversity in order of Tribunal, finding of fact recorded by Tribunal could not be interfered with

No addition of unexplained investment on basis of high value shown in stock statements given to bank

IT : Where there was difference of certain amount between stock statement given by assessee to bank and stock statement filed by assessee before Assessing Officer and both statements were prepared on estimated basis and thereupon Assessing Officer added aforesaid amount in income of assessee under section 69 as unexplained investment in stock, statements could not be made basis of addition

Winding up plea dismissed as co. was commercially solvent and its indebtness was strongly disputable

CL : Where respondent-company was a going concern with sixty employees and it was also commercially solvent and indebtedness was vehemently disputed by respondent-company, an order of winding-up at instance of petitioning-creditor would not be maintainable

Suppression of facts as to provision of service and collection of service tax leads to evasion penal

Service Tax : Where assessee had suppressed facts as to provision of services as well as collection of service tax from clients, evasion penalty was rightly leviable and therefore, adjudication order could not be interfered with in writ jurisdiction

Delay in filing appeal due to marriage of son of proprietor of firm is condonable

Service Tax : Where assessee is a proprietary concern or partnership firm, decision to file appeal depends upon individual leadership; hence, marriage of son of proprietor/partner may be a valid ground of delay of 12 days

Issuance of debentures in lieu of interest dues couldn't be held as actual payment in terms of sec.

IT: Outstanding interest amount converted into a term-loan is not deemed to be 'actually paid' as contemplated under section 43B

No disallowance of sec. 80-IA relief without any proof that excess profits were shown due to arrange

IT/ILT: Where since Assessing Officer had not conclusively proved fact that there was an arrangement between assessee and its AE by which transactions were so arranged as to produce more than ordinary profits in hands of assessee, disallowance of part deduction under section 10A by applying provisions of section 80-IA(10), was not justified

Conveyance allowance paid to officers of LIC isn't exempt if it isn't reimbursement of exp.

IT: Where there was no evidence that amount of additional conveyance allowance paid to assessee, an officer of LIC, was reimbursement of expenditure, it was not eligible for deduction under section 10(14)(i)

Investment shown in dairy of assessee wasn't unexplained as AO failed to bring any other evidence

IT: Where no specific evidence had been brought on record by Assessing Officer to effect that impugned investment related to assessee, addition was to be deleted