IT : Shares acquired cannot be treated as land or building, plant or machinery etc., but only as 'cost of project' for purpose of allowing deduction under section 35D
Friday, 25 December 2015
Discontinuation of supply of drugs to distributor for short span of time wouldn't amount to unfair t
Competition Act: Where a drug manufacturer had unilaterally and voluntarily stopped supply of drugs to informant distributor for a short span of time due to business exigencies it could not be said that it was in contravention of provisions of section 3
Freight beyond place of removal can't be included in excisable value of goods even if not shown sepa
Excise & Customs : There is no provision in excise law to deny benefit of exclusion of 'freight beyond place of removal' merely because same is not shown separately in excise invoice; hence, freight is not includible in value even if not shown separately in invoice
No reassessment on basis of info received from enforcement dept. if AO failed to examine return file
IT: Where Assessing Officer received information from Enforcement Directorate that in books of assessee there were huge cash deposits which were not explained, he could not reopen assessment on basis of said information alone without even examining as to whether amount in question was reflected in return filed by assessee
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