No TDS liability on reimbursement of exp. incurred by C&F agent if separate bill was raised by him

IT : Where assessee paid interest for term loan obtained for purchasing assets for business and claimed deduction of same under section 36(1)(iii) and Assessing Officer disallowed interest partly on plea that assessee had given interest free loans to three parties, since term loan had entirely been used for purpose of purchasing assets and assessee had sufficient interest free funds to take care of advances, disallowance of interest was not justified

Stock broker to pay registration fees on monthly turnover basis after enforcement of Schedule IIIA

SEBI : After Schedule IIIA became applicable, Registration fee payable by a stock-broker for any future period since 1-10-2006 could be calculated or demanded only on basis of monthly turnover and payable each month

Private scheduled banks are instrumentality of the State amenable to the Writ jurisdiction: HC

SARFAESI Act : Whether a private scheduled bank is an instrumentality of the State amenable to the Writ jurisdiction of High Court under Article 226 of Constitution of India- Held Yes

'Milk-n-Nut' candy can't be treated as sugar confectionary, rules Supreme Court

Excise & Customs: Milk-n-nut which was preparation of vegetables, fruits, nuts and parts of plants was classifiable under Chapter Heading 2001.10; and it could not be treated as sugar confectionery classifiable under Chapter Heading 1704.90

Time-limit to deposit TDS/TCS extended to 20th Dec. 2015 in the state of Tamil Nadu

IT/ILT : Section 119 of the Income-tax Act, 1961 – Income-tax Authorities – Instructions to subordinate authorities – Extension of time for deposit of tax deducted at source and tax collected at source for State of Tamil Nadu

Repayment of loan in cash due to compulsion of financiar to do so doesn't attract penalty

IT: Where repayment of loan in cash was made out of compulsion by financier as he did not lend or receive back loan amount in cheque or draft from anybody, penalty under section 271E was to be deleted

Hiring cricketers for endorsing client’s brands is advertisement services, not business auxiliary se

Service Tax : Engaging cricketers to endorse products and brand of Hero by such cricketers through various mediums viz. television, radio, display on cricket bats etc., amounts to 'advertisement services' and is liable to service tax

A software development service provider isn't comparable with software product developer

IT/ILT: Assessee being engaged in business of captive provision of software development services, is not comparable to companies being engaged in software product development, bio-informatics, KPO services, product design and product analysis services, engineering services and companies which had substantial R&D activity and owned significant intangibles

Sale of assets of liquidating Co. by a secured creditor without Court's leave was to be set aside

Companies Act: Where once a company is in winding up and workers have a pari passu charge on secured assets, secured creditor would be entitled to enforce its security by sale only with consent of Official Liquidator and under directions of Company Court

SLP granted to decide whether payment of tax liabilities of contract manufacturer could be claimed a

IT : SLP granted against High Court's ruling that where contract manufacturers were carrying out manufacturing activity for assessee and it was in assessee's business interests that all tax liabilities of manufacturers were duly satisfied, payment towards tax liabilities of contract manufacturers was to be regarded as 'business expenditure'

Goods liable to confiscation if condition prescribed for its free import is violated

Excise & Customs: When relevant DGFT Notification allowed 'free import' of marble blocks/tiles for CIF value at USD 60 and above per square metre, if assessee declared same below USD 60 per square metre, confiscation of such goods would be justified

No denial of SSI exemption on exclusive usage of brand name of foreign Co. in India under assignment

Excise & Customs: Use of brand name of foreign company under assignment agreement for exclusive use in India, is use of brand name in assessee's own right and not use of 'other's brand'; therefore, SSI-exemption cannot be denied

No ST on activity of boiling, cleaning and freezing of vegetables and fruits

Service Tax: Sorting, cleaning, boiling and freezing vegetables/fruits and subsequently packing it in unit packing to be sold by their customers under brand name, amounts to 'processing in relation to agriculture' and is exempt from service tax

During course of international voyage traffic between Indian ports deemed as 'international traffic'

IT : Journey of a vessel between two Indian ports is "international traffic" under Art 8 of India-Singapore DTAA if the same is part of a larger journey between two foreign ports. It is only when a ship or aircraft is operating 'solely' between places in a contracting state that the transport is excluded from scope of "international traffic". It is not the case of the Revenue that the journey being undertaken by such vessels in question were confined between the two ports in India either routine

Income earned by oil manufacturer from sale of DEPB and focus market incentives not eligible for sec

IT : Where in support of deduction claimed under section 54G, assessee produced third party independent evidences such as confirmations from transport contractor, engineering contractor etc. for first time before Tribunal, matter was to be remanded back for disposal afresh after taking into consideration aforesaid evidences

Activity of consultancy and software implementation services couldn't be deemed as sales; liable to

CST & VAT: Karnataka VAT - Where assessee was engaged in development and sale of software, etc., activities of business consultancy services and enterprise resource planning software implementation services carried on by assessee could not be considered as sale, as there was no transfer of any goods involved and entire consideration received from customer had been subjected to service tax