Assessee had TDS liability on commission paid to NR when he failed to show that NR didn't have PE in

IT/ILT : Where assessee did not bring material on record showing that non-resident agents had rendered marketing services abroad and there was no business connection in India, question as to whether commission paid to them was taxable in India, was to be remanded back for disposal afresh

SLP granted to decide whether reimbursements made to shipping agents for use of global telecom syste

IT/ILT : SLP granted against High Court's ruling that payments made by Indian agents to foreign shipping company as reimbursement of share of cost for maintaining a global Net Communication system was not fees for technical services

Cabinet approves protocol amending India-Japan DTAA; includes standard for automatic exchange of Inf

IT/ILT/INDIAN ACTS & RULES : Section 90 of the Income-Tax Act, 1961 – Double Taxation Agreement – Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with Foreign Countries – Japan – Protocol Between Government of India and Government of Japan on Amendment of Said Agreement

CBDT issues circular on tax deductions from salaries for FY 2015-16

IT/ILT : Section 192 of The Income-Tax Act, 1961 – Deduction of Tax at Source – Salary – Income-Tax Deduction from Salaries During Financial Year 2015-16 Under Section 192

New units undertaking expansion in North Eastern Region shall continue to be eligible for Excise exe

EXCISE : Suspension of Benefits Under North East Industrial and Investment Promotion Policy (Neiipp), 2007 by Dipp and Its Bearing on Central Excise Duty Exemption

SetCom had to furnish investigation report so that assessee could present its view on alleged excise

ST : Where Settlement Commission proposes for conducting direct investigation or enquiry, report of such enquiry or investigation must be furnished to concerned party well in advance so that it can present its version

CESTAT denies Cenvat credit on 'heath club and fitness center services' availed by Accenture

Cenvat Credit : Assessee was entitled to Cenvat Credit on various input services in respect of services which were received in pursuance of business activity

Compensation paid by hotel on death of guest in its swimming pool is business exp.

IT: Monies received in Indian rupees by assessee from foreign tourists/airlines/embassies, which were accepted as amounts received in convertible foreign exchange by RBI pursuant to its Circular issued in context of EPCG scheme, would be eligible for deduction under section 80HHD

CBDT devised mechanism to pursue TDS related issues of branches via Corporate Head Quarter

IT : Section 200 of the income-tax act, 1961 – deduction of tax at source – duty of person deducting tax - stringent authentication mechanism through corporate head quarter server for filing of correction statements & download of tds certificate, consolidated files etc. by banks/corporates

ITAT unhappy with AO for reopening case on basis of suspicious and non-existent facts

IT: Where Assessing Officer processed under section 143(1) returns of income filed by assessee for assessment years 2001-02 to 2003-04 and subsequently he reopened said assessments on sole basis that assessee had not filed returns for years preceding to assessment year 2004-05 and, therefore, its income having escaped assessment, reopening of assessment was on basis of suspicion and non-existent and incorrect facts and it was invalid

CBDT devised mechanism to pursue TDS related issues of braches via Corporate Head Quarter

IT : Section 200 of the income-tax act, 1961 – deduction of tax at source – duty of person deducting tax - stringent authentication mechanism through corporate head quarter server for filing of correction statements & download of tds certificate, consolidated files etc. by banks/corporates

CBDT prescribes procedure for verification of electronic and manual declarations of Form 15G/15H

IT : Section 197A Of The Income-Tax Act, 1961 – Deduction Of Tax At Source – Non-Deduction In Certain Cases - Simplification Of Procedure For Form No.15G & 15H

Sale of Gutkha can't be quantified on basis of tobacco consumed in manufacturing

Excise & Customs : Clandestine manufacture and sale of Gutkha could not be quantified on basis of purchase and consumption of tobacco without ascertaining moisture content in raw tobacco and there being no evidence to show excess consumption of other raw material to be used in manufacture of Gutkha

SLP granted against HC's order holding that sec. 14A disallowance couldn't be made when AO didn't re

IT : SLP granted against High Court's order wherein it was held that since their was no tangible material that could have enabled Assessing Officer to record his satisfaction in terms of section 14A, disallowance made by it by holding that interest bearing funds had been used to earn tax free dividend etc., was unjustified

Even belated payment of excise duty, voluntarily, would attract interest

Service Tax/Excise/Customs : Interest under section 11AA is payable even in cases where duty is paid belatedly, though voluntarily prior to issuance of notice

Co. owning significant intangibles not comparable with a low risk captive service provider who doesn

IT/ILT: A company owning significant intangibles cannot be compared to a low risk captive service provider who does not own any such intangible

No need to deposit in Cap Gain Scheme if house is purchased within time limit of sec. 54F

IT : Where assessee had purchased new asset within two years from date of transfer of original asset section 54F(4) requiring assessee to deposit amount within prescribed time would not be attracted and assessee would be entitled to benefit under section 54F

Income-tax returns are personal informations, can't be disclosed under RTI Act

RTI : Where petitioner filed application under RTI Act demanding copies of Income-tax returns of five private parties, information demanded was personal information and was clearly exempted information under section 8(1)(j) and in disclosing same, there was no element of public interest to be sub-served

New pre-deposit requirement applies to all appeals filed on or after Aug. 6, 2014: Delhi HC

Service Tax/Excise/Customs : As per second proviso to customs section 129E (excise section 35F), mandatory 7.5 per cent 10 per cent pre-deposit would not apply to appeals/applications pending on 6-8-2014; therefore, in other words, mandatory 7.5 per cent 10 per cent pre-deposit would apply to appeals filed on or after 6-8-2014

SEBI brings in system-driven disclosure in securities market

SEBI : Introduction Of System-Driven Disclosures In Securities Market

No reassessment to disallow provision for unascertained liability if no facts were suppressed in ori

IT: Where Assessing Officer reopened assessment on ground that assessee was allowed deduction for provisions towards an unascertained liability which was not allowable, in absence of any information that assessee had unjustifiably suppressed relevant information, reopening was unjustified

Govt. hikes limit for turnover tax under Odisha VAT from 40 lakhs to 50 lakhs

VAT/INDIAN ACTS & RULES : Odisha Value Added Tax (Amendment) Act, 2015 – Amendment In Sections 9, 10, 11, 16, 20, 25, 27, 31, 32, 33, 39, 41, 42, 43, 50, 54, 57, 58, 59, 65 & 77; Omission of Section 30 and Insertion Of Section 42A

No service-tax on handling charges if it was included in value of goods liable to VAT

Service Tax: Where 'handling charges' incurred in connection with procurement of goods were included in value of goods sold and sales tax/VAT liability was discharged, service tax would not be levied

SEBI floats discussion paper on 'Review of framework for public issuance of Convertible Securities'

SEBI : Discussion Paper On Review Of Framework For Public Issuance Of Convertible Securities

SEBI releases discussion paper on 'Exit Offer to Dissenting Shareholders'

SEBI : Discussion Paper On Exit Offer To Dissenting Shareholders

Govt. introduces e-governance in Haryana VAT

VAT/INDIAN ACTS & RULES : Haryana Value Added Tax (Second Amendment) Act, 2015 – Amendment In Sections 2, 8, 16, 34 & 60; Substitution Of Sections 15A & 17 And Insertion Of Sections 54A & 54B