Controlling/limiting services of dumpers at restricted area was an anti-competitive act of opposite

Competition Act : Where OP was a facilitator between licensed stevedores and owners of dumpers for handling of cargo, it would not be an enterprise and its conduct could not be examined in respect of abuse of dominant position

Order of CIT was erroneous as sums payable to customer was mistakenly considered as income of assess

IT : Where Commissioner came to conclusion that assessee incurred work in progress expenditure of Rs. 47.59 crores and raised a bill of Rs. 48.06 crores and difference between two was profit, whereas assessee submitted that amount of Rs. 48.06 crores was bill amount raised by customers, Commissioner proceeded on misunderstood facts and accordingly revision order could not be sustained

CBEC prescribes procedure for e-payment of refund and rebate

EXCISE : General Guidelines for Implementation of E-Payment of Refund/Rebate

ITAT had to remand back case instead of appreciating the facts itself if CIT(A) didn't confront asse

IT/ILT : Where in earlier years, consideration received by assessee Swede company for supply of telecom equipments as not taxable, while in current year Tribunal had recorded that Commissioner (Appeals)'s order was bad as he did not confront assessee with new material gathered during survey, Tribunal ought to have remanded matter back to Commissioner (Appeals) for readjudication of facts; it should not have itself appreciated facts

Sale of scrap derived out of manufacturing of Shampoo products is entitled to sec. 80-IC relief

IT : Where sale price of export was credited to bank account as per existing exchange rate, foreign exchange gain/loss subsequent to receipt of sale proceed was not eligible for exemption under section 10B

No vacation of office of directors if default in filing financials was made prior to April 1, 2014

Companies Act : Where petitioner filed an application contending that all erstwhile directors of Respondent Company vacated their offices in terms of section 167(1) read with section 164(2) due to default committed by erstwhile directors in filing financial statements of Respondent Company for years 2010-11, 2011-12 and 2012-13 but it was found that there had been restraint order whereby interim injunction had been imposed from holding general meetings of Company and, consequently, financial

Anonymous donation received by a charitable and religious trust without specific direction couldn't

IT : Where assessee trust was established for charitable and religious purposes and anonymous donation was received by it without any specific direction that such donation was for any university or other educational institutions or any hospital or other medical institutions run by assessee-trust, such donation could not be taxed by invoking provisions of section 115BBC

TP adjustment should be made for lower capacity utilization while computing ALP of international tra

IT/ILT : While computing arm's length price of international transaction, adjustment should be allowed on account of lower capacity utilization

SEBI issues FAQs on listing obligations and disclosure requirements

SEBI : Faqs on SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

President clears Sugar Cess (Amendment) Act, 2015

CORPORATE LAWS/INDIAN ACTS & RULES : Sugar Cess (Amendment) Act, 2015

Commodity derivatives exchanges liable to exit if they have no trading operations for more than 12 m

SEBI : Mandatory Requirements/Exit Policy for Commodity Derivatives Exchanges

Builder not guilty of unfair trade on its failure to deliver flats if buyer failed to prove booking

Competition Law: Where complainant had failed to adduce cogent corroborative evidence to prove booking of flat in building proposed to be constructed by respondent and execution of agreement for delivery of said flat, respondent could not be held guilty of unfair trade practice on its failure to deliver said flat

SEBI approves framework for providing exit opportunity to dissenting shareholders

SEBI : Sebi Board Meeting – Review of Prudential Limits on Investments by Mutual Funds; Introduction of Primary Market Debt Offering Through Private Placement on Electronic Book; Exit Opportunity to Dissenting Shareholders under Companies Act, 2013 etc.

Cost of improvement disallowed as assessee failed to establish that renovation was carried out in fl

IT: Assessee's claim towards cost of improvement while computing capital gain on sale of a flat was rejected where assessee failed to establish his claim of renovation being carried out in said flat with any cogent or reliable evidence