A software product co. which comes under category of KPO isn't comparable to software development co

IT/ILT: Companies engaged in product engineering services or in KPO services having huge revenues from software products or in sale of software licenses or having extraordinary events which affected their performance could not be comparable to assessee a software development services company for purpose of TP study

Govt. has notified interest rate of 2.25% and 2.50% under Gold Monetization Scheme: RBI to banks

IT/BANKING : Gold Monetisation Scheme, 2015 – Interest Rate

No credit available for duty paid through DEPB Scrips, rules Madras HC

Cenvat Credit : Where DEBP scheme specifically barred taking of credit of CVD not paid in cash, assessee cannot take credit of CVD paid by debit to DEPB scrip

Payment of hoarding charges are liable to sec. 194C TDS and not sec. 194-I TDS

IT : Where assessee, engaged in business of advertising and marketing communication services, availed services of creative consultants, it was required to deduct tax at source under section 194J while making payments to them

SLP granted against HC's decision that Indian-subsidiary of E-Fund couldn't be treated as PE in Indi

IT/ILT : SLP granted against High Court's ruling that where an assessee does not have any branch office or factory or workshop in India and merely because it has a subsidiary in India that by itself does not create a fixed place of business/location PE within meaning of article 5, paragraph 2, sub-clauses (b) to(k) of India-US DTAA

Credit of EC and SHEC can be used to pay service tax: CBEC

ST/INDIAN ACTS & RULES : Cenvat Credit (Fifth Amendment) Rules, 2015 – Amendment in Rule 3

CIT(A) has to submit additional evidence to AO even if it is nature of clinching evidence

IT : Even if additional evidence produced by assessee are in nature of clinching evidence leaving no further room for any doubt or controversy, Commissioner (Appeals) is under statutory obligation to put additional material/evidence taken on record by him to Assessing Officer

SIT asks MCA to take action against persons holding directorship in more 20 companies

COMPANIES ACT, 2013 : Special Investigation Team (Sit) Calls For, among Others, Greater Vigilance by Law Enforcement and Intelligence Agencies in Cases of Persons Holding Directorship in More Than 20 Companies

Trust need not file any Form for accumulation of income upto 15% of receipts

IT: Assessee is entitled to flat deduction without any condition or formality of filing Form No. 10, if income is accumulated or set apart for application of objects of trust in India, to extent to which income so accumulated or set apart does not exceed 15 per cent of income

Co. rendering marketing support services can't be a comparable for co. providing agency services

IT/ILT : For a company rendering marketing support services for mineral processing equipment, a company providing agency service in metals and fertilizers or trading in chemical or engaged in air ticketing and selling holiday package or publishing newspaper, could not be comparable; company having more than 15 per cent related party transactions could also not be accepted as comparable

Trust entitled to sec. 11 relief on conducting trade fair outside India as Govt. grant was given for

IT: Where in support of its claim for exemption under section 11, assessee brought on record grant sanctioned letter of Ministry of Commerce and Industry showing that said amount of grant had to be spent outside India for some specific purposes such as trade fairs etc., matter was to be remanded back for reconsideration of assessee's claim