AO to initiate fresh examination under Karnataka Sales Tax Act after considering cases cited by asse

CST & VAT : Where Assessing Officer passed assessment order on assessee without considering case law relied upon by it, matter was remitted back to Assessing Officer to pass assessment order afresh

AO is duty bound to refer matter to DVO if assessee objects to stamp duty valuation

IT: Where assessee had clearly objected before Assessing Officer against adoption of stamp duty valuation, it was duty of Assessing Officer to refer valuation of property to Valuation Cell of Income-tax Department

ALP of corporate guarantee couldn’t be compared with yield on domestic bonds without analysing AE’s

IT/ILT : Where TPO made addition to assessee's ALP taking a view that assessee had not charged any fee for corporate guarantee for taking loans in USA given on behalf of its AE, since TPO could not arrive at credit rating of AE without there being any analysis on creditworthiness of AE and, moreover, addition made by TPO on basis of difference between domestic bond yield and that of loan availed in USA could not be accepted as domestic yield so as to compare it with loans in US and rates charged

Exp. on repair and renovation of rented premises used for the purpose of business is revenue in natu

IT : Where assessee incurred expenditure on repairs and renovation of rented premises but neither any capital asset had been created nor enduring benefit had been derived and it was incurred merely for carrying on its business efficiently, it had to be treated as revenue in nature

CLB allowed right issue to existing shareholders in equal proportion as Co. needed funds for expansi

CL : Where company required funds for its expansion and managing its affairs and proposed right issue to all shareholder in same proportion without prejudice to any shareholder, such issue was to be allowed

Distinction between renting and hiring of cab is illusory; both are liable to service-tax

Service-tax : Supplying cars/vehicles under a rate contract basis, depending upon distance, time and usage of vehicles amounts to 'rent-a-cab service' and liable to service tax and, for this purpose, difference between renting and hiring of a cab is an illusory distinction

Concealment penalty imposed for claiming interest paid under Income-tax Act as business expenditure

IT: Where assessee-company had committed an error in preparing its return of income and its action in claiming impugned interest levied and paid under sections 234A, 234B and 234C as a business expenditure was a misrepresentation, levy of penalty in respect of impugned claim was justified

Protest was invalid if assessee had not challenged the classification list approved by department

Central Excise : Where after alleged filing of protest letter, assessee had filed classification lists, which were approved by department, and assessee had never challenged said classification in appeal, protest, if any, had become invalid in eyes of law; therefore, refund claim was barred by limitation

Liability arose due to book entries were outside the ambit of sec. 269SS, rules HC

IT: Object of section 269SS is to prevent transaction in currency; it is not intended to affect cases where a debt or a liability arises on account of book entries

Co. incurring abnormal losses due to winding-up of relation with key clients are excludible from com

IT/ILT : A company having incurred super losses due to extraordinary events, like winding up of relationship with clients, filing of bankruptcy by some clients, etc., is to be excluded from comparables list; simultaneously company earning super profit should also have to be excluded from list of comparables

No suppression of facts if nature of input services couldn’t be disclosed in excise return in absenc

Cenvat Credit : In absence of any column in returns requiring nature of input or input services to be disclosed, non-disclosure of same cannot attribute any malafide to assessee and, therefore, extended period of limitation cannot be invoked

FMC’s order declaring a Co. ‘unfit’ to hold shares in commodity exchange would apply to security mar

SEBI : Where trades regulated by FMC and SEBI are nothing but different facets of trade operating within financial market system in India, order passed by FMC declaring a company as not a "fit and proper person" to acquire or hold shares of commodity exchange would ipso facto apply to securities market regulated by SEBI

Toilet papers couldn't be valued on MRP basis under sec. 4A; their valuation was to be made under se

Excise & Customs : 'Toilet paper' classifiable under Tariff Item 48181000 is not covered under Sl. No. 55 of Notification No. 49/2008-CE(NT) and is not assessable under section 4A; same is to be valued as per section 4

Manufacturers of ‘air springs assembly and other metals parts’ are eligible to claim benefit of sec.

IT: Where assessee engaged in manufacturing of 'air springs assembly and other metal parts' claimed deduction under section 80-IC, in view of fact that imported material as well as local materials were used in manufacturing process which resulted in a final product quite distinct from components used and had distinct usage too, assessee's claim for deduction was to be allowed

Cable operators are eligible to take input credit of services received from multi-system operators

Service Tax : In case of cable operators, prima facie, demand should be raised based on collections received from customer after allowing credit of service tax paid on service received from multi system operator

Issue of disallowance couldn’t be raised before CIT(A) if disallowance was made by CIT in revisional

IT: Matter remanded where revenue submitted that assessee could not raise issue of disallowance of bad debts before first appellate authority when disallowance was upheld by Commissioner in revision

HC upheld VAT penalty when dealer confessed that silver bar unearthed during survey wasn’t accounted

CST & VAT : Where Assessing Officer conducted survey upon assessee and found certain silver bar, which was not accounted for in account books, and thereupon assessee appeared before Assessing Officer and admitted that silver bar was neither accounted for in account books nor bill was available, Assessing Authority had rightly imposed penalty upon assessee under section 77(8)

No revision to disallow sec. 10AA deductions to a SEZ unit duly approved and recognized under SEZ Ac

IT: Revision on ground that assessee had not fulfilled eligibility conditions as SEZ was unjustified where it was found that assessee was duly granted approval by SEZ authorities to set up SEZ unit, it was recognized as an entrepreneur under SEZ Act and was also granted renewal of approval for trading by competent authority under SEZ Act

Society of labourers supplying manpower services on daily wage basis are liable to service-tax

Service Tax: A registered society of retrenched labourers supplying labourers on daily wage basis is, prima facie, liable to service tax under manpower recruitment or supply agency services.

Exp. reimbursed to NR agent in relation to export sales couldn’t be disallowed treating it as post-s

IT/ILT: Where in terms of sales agreement, assessee had agreed to bear expenses relating to export sales carried out on its behalf by consignment agent located abroad, assessee's claim for deduction of said expenses could not be rejected taking a view that same were in nature of post sales expenses

Co-op. society exempted from withholding of taxes under sec. 194A on interest paid to its members: I

IT : Where assessee, a co-operative society, carrying on banking business, paid interest income to members on both time deposits and on deposits other than time deposits, it was not required to deduct tax at source under section 194A by virtue of exemption granted vide clause (v) of sub-section (3) of said section

CA held guilty of professional misconduct for filing bogus form with ROC to claim undue interest in

Chartered Accountants Act : Where respondent Chartered Accountant had filed bogus forms with ROC appointing directors of complainant company and had taken undue interest in matters of company after his resignation as auditor, respondent was guilty of professional misconduct

On claiming full exemption by assessee its credit balance had lapsed under Rule 11 and couldn't be u

Excise & Customs : If assessee starts claiming full exemption from duty from 1-4-2008, credit balance as on 31-3-2008 (after appropriate reversals in relation to stocks) would lapse under rule 11 of CENVAT credit Rules, 2004 and cannot be used in June, 2008 even for payment of duty on clearances made in March 2008 itself

ITAT makes sec. 14A disallowance by estimating 2% of dividend income as incidental exp. for earning

IT : When assessee had not furnished details of expenditure, reasonable estimation of expenditure attributable to dividend income has to be made at 2 per cent of gross dividend income; section 14A disallowance is to be made of said amount

HC waives of pre-deposit demand of penalty on pre-deposit of entire service tax and interest by asse

Service Tax : Where appeal before Tribunal was dismissed for non-compliance with pre-deposit, High Court restored appeal before Tribunal on pre-deposit of entire service tax and interest and waived pre-deposit of penalty

No concealment penalty if assessee didn’t intend to furnish inaccurate of land specifying municipal

IT: Where assessee claimed that his agricultural land was situated beyond 8 kms. of municipal limits and produced some certificates regarding said property, concealment penalty should not be imposed

HC denied to stay winding up order as revival scheme of liquidating Co. wasn't bonafide

CL : Where schemes for revival of a company in liquidation presented by unsecured creditors, secured creditors, shareholders, etc. were not bona fide and such applicants did not have any locus standi to come before Court, prayer for stay of winding up order was to be rejected

Sums paid to DTH operators for placement of channels in a particular frequency couldn’t be deemed as

IT/ILT : Channel placement fee paid by assessee to cable TV operator/DTH provider could not be regarded as royalty in terms of Explanation 2 to section 9(1)(vi)

Tribunal had to follow principle of consistency in its interim order, says CESTAT

Cenvat Credit : Where Tribunal has granted stay in matter relating to same assessee for earlier period, Tribunal must follow consistency in rendering judgments or passing interim orders to ensure legal propriety and judicial discipline and stay must be granted in subsequent matters as well

Unconditional dispensing of pre-deposit order by CESTAT without safeguarding interest of revenue was

Service Tax : If authority chooses to dispense with pre-deposit, it must impose such conditions as it deems fit to safeguard interests of revenue; an order dispensing with pre-deposit without imposing any condition is illegal

MCA tweaks norms on appointment of auditor by CAG

COMPANIES ACT, 2013/INDIAN ACTS & RULES : Companies (Removal of Difficulties) Seventh Order, 2014 – Amendment in Section 143 of The Companies Act, 2013

Activities statutorily required to be done prior to import couldn't be deemed as manufacture in Indi

Excise & Customs : Labelling/relabelling/repacking/affixation of MRP, etc. carried out as a statutory requirement prior to importation of goods covered under 3rd Schedule to Central Excise Act cannot be regarded as 'manufacture within India' because 'import into India' is complete only after said activity is done

ITAT directs AO to consider sec. 41(1) additions after verifying statement of accounts of creditors

IT : Where assessee furnished before Tribunal, for first time, statement of accounts from concerned creditors so as to confirm/prove discharge of total liability, matter was to be restored back to Assessing Officer

ITAT's jibe at CA over his absurd advice; doubts efficacy of CPE programmes designed by ICAI

IT : Where assessee filed appeal with a delay of more than eight years against denial of deduction under section 80-O contending that said delay was caused due to advice given by Chartered Accountant to effect that since appeal on similar issue was already pending before Tribunal for earlier year and it was only on basis of decision in said appeal, a rectification application could have been filed before Assessing Officer, it was opined that said absurd advice could not have been given by Charte

No reassessment after 4 years to disallow exp. on TDS default if assessee had disclosed all facts du

IT : When it was not established that there was failure on part of assessee to disclose truly and correctly all material facts, assessment could not be reopened after expiry of four years to disallow interest on ground that no interest was offered on loan advanced and to disallow rent on ground that TDS was not deducted thereon

Unconditional dispensing of pre-deposit order by CESTAT is illegal; should be conditioned by safegua

Service Tax : If authority chooses to dispense with pre-deposit, it must impose such conditions as it deems fit to safeguard interests of revenue; an order dispensing with pre-deposit without imposing any condition is illegal

Goods seized due to non-production of declaration form to be released on furnishing of bank guarante

CST & VAT : Where Assistant Commissioner (Mobile Squad), U.P. Commercial Tax Department intercepted a truck transporting a pump from Uttarakhand to Chattisgarh and seized pump and demanded a security of Rs. 10 lakhs in cash for release of pump, Assistant Commissioner was directed to release pump upon assessee furnishing bank guarantee of Rs. 10 lakhs

Reassessment notice was invalid if issued after obtaining approval of Commissioner instead of Joint

IT : Notice issued under section 148 after obtaining sanction from Commissioner is void ab initio

Subsidy received by Cricket Associations from BCCI for IPL matches won’t be liable to service tax

Service-tax : TV/Infrastructure/IPL subsidy received by a cricket association (assessee) from BCCI on holding of IPL matches in stadium is not prima facie taxable in hands of assessee under 'Commercial use or Exploitation of any Event' service

Indian branch could claim deduction for head-office expenditure even if it was not recorded in its b

IT/ILT: Expenditure met out by head office with regard to business operation of assessee branch in India allowable under section 44C

No abuse of dominance by BPTP when another big real estate developers were also present in relevant

Competition Law : Where other large well known real estate developers were present in relevant market for development and sale of residential apartments, OP-BPTP could not be said to be in a dominant position

Withdrawal of exemption notification from retro-effect validated SCNs issued prior to its withdrawal

Excise & Customs : Where retrospective amendment denying exemption and validating demand in issued in 2003, such amendment validates notices issued during prior period viz. in year 2001; there is no need for fresh notice/individual hearing

Severance pay of employees allowable under Sec. 35DDA when assessee had just outsourced its producti

IT : Where assessee having transferred its manufacturing facility of alcoholic beverages to another company, claimed deduction of severance pay of employees in terms of section 35DDA, in view of fact that it was a case of running its business more efficiently and not a case of closure of business, assessee's claim for deduction was to be allowed

Proceedings couldn’t be initiated for TDS default if re-assessment time-limit against payee had expi

IT : No order under section 201(1)/201(1A) can be passed where revenue has not taken any action against payee and further time limit for taking action against payee under section 147 has also expired

Revenue couldn’t reject revised return of ST as it could only call for records in case of any doubts

Service-tax : When a revised return is filed, department may call assessee and ask them to explain why difference has arisen and why taxable value was not shown correctly; department has no power to reject/ignore revised return completely

Sec. 40A(2) disallowance upheld as assessee failed to provide comparable data on market price of its

IT : Penalty under section 271(1)(c) cannot be imposed merely on ground that there were defects in account books of assessee and flat rate of profit is applied to arrive at gross profits of assessee

Employer couldn’t avail of credit for Catering services after recovering cost of such services from

Cenvat Credit : Where it was found that assessee was recovering amount from beneficiaries/its own employees while running canteen, assessee was not entitled to Cenvat Credit claimed by it in respect of catering services

Limitation period for presentation of cheque excludes first day on which cheque is drawn but include

Negotiable Instruments Act: Word 'from' in section 138(a) requires exclusion of first day on which cheque was drawn and inclusion of last day within which such act needs to be done and, therefore, six months would expire one day prior to date in corresponding month and in case no such day falls, last day of immediate previous month

TP adjustments on basis of comparables with higher related party transactions aren’t justified

IT/ILT : Where TPO made certain addition to assessee's ALP in relation to international transactions entered into with AE relating to software development services, in view of fact that in case of one comparable selected by TPO, there was merger of another company which resulted in its earning high operating margin and, moreover, some other comparables were found inappropriate on account of functional difference and related party transactions, impugned addition was to be set aside and, matter wa

Govt. amends West Bengal VAT Act; asks additional details in new annexure, includes professionals in

CST & VAT/INDIAN ACTS & RULES : West Bengal Value Added Tax Rules, 2005 – Amendment In Rules 2, 6, 6B, 30, 34, 34A, 34AAA,43, 46XA, 46XB, 48A, 76, 89, 100A, 103A, 104A, 121, 135, 155, 156, 195, 196, 198 and 207 and Insertion of Rules 12A, 35A, 49A, 54B & 207A

Kingfisher Airlines 'a king of not so good times': HC held it as an assessee-in-default for failure

IT : Where assessee-company having deducted tax at source from salaries paid to it employees, did not remit same to Central Government account, Assessing Authority was justified in holding assessee to be "assessee-in-default" and directing it to pay amount so deducted with interest

Prior to May 10, 2008, service tax penalties under sctions 76 and 78 were imposable simultaneously

Service-tax : Proviso inserted in section 78 is prospective from 10-5-2008; for period prior to 10-5-2008, penalties under both sections 76 and 78 were imposable simultaneously for failure to pay service tax even if notice is issued on or after 10-5-2008

Enamel, fiberglass yarn and paper used in manufacturing are liable to VAT at 12.5% under Karnataka V

CST & VAT: Where assessee received from customer copper wire and converted it into insulated copper wire by using enamel, fiberglass yarn and paper and delivered finished product to customer, enamel, fiberglass yarn and paper used in manufacturing process were liable to tax at rate of 12.5 per cent

Hiring of tankers for movement of goods and payment on per km. basis amounts to GTA services

Service Tax : Where assessee had engaged transporters owing tankers for movement of their own goods and said transporters were paid on basis of running of tankers on per km. basis, said services were prima facie GTA Services

Instruction to select cases for scrutiny – Trust availing of relief after cancellation of approval u

IT/ILT: Section 143 of the Income-Tax Act, 1961 - Assessment - General - Compulsory Manual Selection of Cases for Scrutiny During Financial Year 2014-15

Now foreign ECB lenders can extend loan in Indian rupees to residents

FEMA/ILT : External Commercial Borrowings (ECB) in Indian Rupees

HC reduces pre-deposit of ST on renewal fees recovered by multi-level marketing companies

Service Tax : Where Commissioner (Appeals) had ordered full pre-deposit of service tax under Business Support Services on renewal fees/card charges recovered by multi-level marketing (MLM) business division, HC reduced pre-deposit, as assessee had arguable case

Role of TPO is to determine ALP of International Transaction which can’t be stretched to reject tran

IT/ILT : Role of TPO is to determine arm's length price of a transaction, however, he cannot reject entire payment under provisions of section 92CA

No unjust enrichment if predeposit was refunded by assessee at the time of pre or post adjudication

Excise & Customs : Provisions of limitation or provisions of unjust enrichment do not apply to refund of amounts of pre-deposit irrespective of whether such deposits are made pre-adjudication or post adjudication

Removal of petitioner as director of rival business with similar name couldn’t be said to be oppress

CL: Where on account of mere vague and sweeping charges and proved misconduct of petitioner for setting up a rival business in identical name to name of respondent company, petitioner was not entitled to any relief under sections 397 and 398

Reassessment quashed as it was made without issuing notice under sec. 143(2)

IT: Assessment completed without issue of notice under section 143(2) is invalid

Department can issue SCN to inquire into validity of assessee's claim regarding exemption from decla

Excise & Customs : Department may issue show-cause notice inquiring into validity of claim of exemption from declaration of Retail Sale Price under Legal Metrology (Packaged Commodities) Rules, 2011 and on failure, demanding duty under section 4A

Sharing of license fee among affiliates entailing benefits to business operations of assessee was al

IT: Reopening was not justified where Assessing Officer had actually before him all relevant materials at time of original assessment itself

Credit of works contract services could be taken on or after 1-4-2011 if construction was completed

Cenvat Credit : Works Contract Services used for construction of cement plant/factory are eligible for credit, if construction completed prior to 1-4-2011 even if invoices are received and credit is taken on or after 1-4-2011

HC admitted winding-up plea against respondent-Co. as it failed to pay amount arrived on settlement

CL : Where appellant was liable to pay an amount in terms of settlement arrived at between parties before Debt Recovery Tribunal and did not file reply to winding up petition despite ample opportunity, winding up petition against respondent was rightly admitted

TP adjustment for transactions with AE set aside as comparables had functional differences and highe

IT/ILT : Where TPO made addition to assessee's ALP in respect of software research and development support services rendered to its AE, in view of fact that some of comparables selected by TPO were improper on account of functional difference and high turnover, impugned adjustment was to be set aside and, matter was to be remanded back for disposal afresh

Credit of input couldn't be denied even if it was used in manufacturing of suppressed clearances

Excise & Customs : In absence of a specific rule prohibiting availment of credit when manufacturer is involved in suppression of turnover/clearance of goods, credit of input used in manufacture of suppressed clearances, on which demand is confirmed, cannot be denied

No interest on delayed refund of wrongly encashed bank guarantee; SC orders compensation for delay

Excise & Customs : There is no provision for interest on delayed refund of wrongly encashed bank guarantee; however, assessee may be granted compensation therefor

HC disallows deduction of bad-debts as assessee had made fake book entries to evade taxes

IT : Assessee's claim for bad debt could not be allowed where false book entries were made to avoid tax liability

Reimbursements aren’t includible in ‘value of services’ if bills are in name of service recipient, s

Service Tax : Where assessee has claimed reimbursements of bills of contractor/transporters and bills are in name of service recipient, said reimbursements are received as 'pure agent' and not includible in value of services

HC denies rebate to merchant-exporter as its purchase transactions were bogus

Excise & Customs : Rebate is allowable only if it is established and proved by assessee that goods were exported by using inputs on which duty was paid; if purchase transactions of merchant-exporter are found to be fake, rebate cannot be allowed

Mere possibility of doing any commercial activity by trust couldn’t cause rejection of Sec. 80G appr

IT : Even if there was a possibility that assessee institution would engage in a commercial activity with help of community centre assessee was building, this could not be reason enough to decline assessee's application for grant of approval under section 80G

HC granted liberty to assessee to file appeal before appellate authority after payment of arrears of

CST & VAT: Where against order of assessment, assessee filed writ petition, assessee was directed to pay Rs. 16 lakhs towards arrears of tax and on making payment it would be at liberty to file appeal before Appellate Authority

Reference to TPO was invalid if no incriminating material was found during search proceedings

IT/ILT: Where Assessing Officer passed draft assessment orders which were served on assessee on 22-11-2011 and, thereupon, DRP having considered assessee's objections, dispatched its directions to assessee on 16-8-2012, it was to be concluded that impugned draft order had been passed in confirmity with provisions of section 144C(12) and, it could not be held barred by limitation merely on ground that DRP had issued those directions to Assessing Officer after expiry of prescribed time period i.e.

No cancellation of registration of sale deeds even if they weren’t registered in State where propert

CL: Registration authorities in State of Maharashtra were duly empowered to register documents in accordance with Registration Act, 1908 being Central Legislation and accordingly, act of registering authorities in Mumbai, in registering documents pertaining to property situated at Ranchi could not be faulted, hence, registration of sale deeds could not be cancelled only on ground that sale deeds were registered in Mumbai and not by concerned sub-registrar in Bihar

HC reduced pre-deposit of ST on ‘outdoor catering service’ as assessee had paid VAT on supply of tea

Service Tax : Where assessee had paid VAT on supply of tea/coffees to employees of client through its vending machines, pre-deposit of service tax demand under 'outdoor catering service' was to be reduced/waived

Even MAT companies are liable to pay interest under section 234C for deferment of advance tax

IT : Deductions under section 80HHD would be computed by taking assessee's all hotel units together

Demand for breach of exemption stipulations couldn’t be dropped on mere extension of letter of permi

Excise & Customs : Adjudicating Authority cannot drop excise/customs demand for violation of condition of exemption notification by 100 Per cent EOU merely because of LOP extension granted by Development Commissioner; LOP extension is a relevant factor in adjudication but not sole factor in adjudication

ITAT directs fresh examination to determine whether property was acquired compulsorily to attract se

IT : Where assessee municipal corporation acquired land with structure but did not deduct TDS under section 194L on compensation related to structure portion, matter was remanded back to decide whether property was acquired by mutual consent or by way of compulsory acquisition

TPO couldn’t compute ALP of indenting business on basis of profit earned from non-AE in trading busi

IT/ILT: Where assessee, a wholly owned subsidiary of foreign company, carried out indenting and trading transactions in India on its own, action of TPO in determining ALP in respect of indenting business by applying profit percentage earned by assessee from non-AE transactions under 'Trading business' segment could not be upheld

Commissioner (Appeals) couldn’t confirm ST demand under a category not proposed in show cause notice

Service Tax : Commissioner (Appeals) cannot travel beyond scope of show-cause notice and confirm demand under a category not proposed in show-cause notice

HC approves of amalgamation as no obstacle existed against it and concerned authorities accorded the

CL : Where in view of approval accorded by shareholders of petitioner companies, report filed by Official Liquidator, affidavit filed by Regional Director and replies of petitioner companies to reports of Official Liquidator and Regional Director there was no impediment to grant of sanction to scheme of amalgamation, same was to be sanctioned

Madhya Pradesh Govt. doubles ceiling of purchase price for levying purchase tax

Madhya Pradesh Value Added Tax Rules, 2006 – Insertion of Rule 5A

Kerala Govt. amends VAT Rules to provide stay against VAT recovery for specified dealers

Kerala Value Added Tax (Amendment) Rules, 2014 – Insertion of Rule 72A

SEBI notifies norms laying down framework to register and regulate research analysts in India

SEBI/INDIAN ACTS & RULES : SEBI (Research Analysts) Regulations, 2014

Directions for pre-deposits based on certain factors to prove secret removal of goods couldn’t be ch

Excise & Customs : Pre-deposit of Rs. 38 lakhs out of Rs. 230 lakhs after considering : (a) electricity consumption, (b) contradictions noted in assessee's books of account and (c) other material considered by adjudicating authority for alleging clandestine removal, cannot be regarded as unreasonable/arbitrary

Advance sum received by service provider deemed as income only when services are rendered by it

IT : Where an assessee receives sum for some services but said services are not to be performed in current year but in subsequent year, till performance of service by assessee, assessee cannot be said to have received amount on accrual as assessee cannot exercise its dominion over receipt and, thus, said receipt should be taxed in year in which assessee would render service to payee

SC allows additional time to assessee for compliance with pre-deposit order of first appellate autho

CST & VAT: In appropriate cases, assessee might be given some more time to comply with pre-deposit requirement for hearing of appeal

Sec. 35 relief: ITAT should resolve issue of reference to prescribed authority to decide use of asse

IT : Tribunal should give findings on applicability of section 35(3) while considering a deduction claim of scientific research expenditure under section 35(1)(i)

Non-availability of declaration Form with driver transmitting goods proved an intent to evade VAT; p

CST & VAT : Where Assessing Authority intercepted a vehicle carrying rice from Delhi to Khairthal Mandi without declaration Form ST-18A and thereupon he imposed penalty upon assessee under section 78(5) of Rajasthan Sales Tax Act, 1994, imposition of penalty was justified

Sums paid in pursuance of adjudication order shall be refunded if order was set aside and remanded

Central Excise : Sums paid in pursuance of an adjudication order, which has been set aside, become refundable automatically; said refund cannot be withheld merely because adjudicating is pending in remand proceedings

Payment of substantial excise duty proves incidence of manufacturing activities; HC allows sec. 80-I

IT: Where assessee was manufacturing goods and had in fact, paid Central excise duty, deduction under section 80-IB could not be denied

RBI tweaks Basel III Capital Regulations; revises eligibility criteria for issuing capital instrumen

BANKING : Implementation of Basel III Capital Regulations in India – Amendments

Revenue couldn’t direct VAT registration as per Circular issued by Commissioner if VAT Act didn’t pr

CST & VAT: When Kerala Value Added Tax, 2003 did not provide for registration of transporting agency, assessee was not liable to be registered under section 15

Blending of metal scrap to make ‘blended metal scrap’ amounts to manufacture, rules AAR

Excise & Customs : Process of blending of metal scrap to make 'blended metal scrap' (involving sorting grade wise, Cutting/Shredding/Crushing and sizing of oversize material and Bundling and briquetting) amounts to manufacture

Sum paid to Singaporean-Co. for logistic services wasn’t ‘FTS’ as it didn’t satisfy make available c

IT/ILT: Where a Singapore company rendered services to assessee, without making available to assessee its technical knowledge, experience or skill, there was no liability to deduct tax at source from payments made for services in question

No rectification of register of members by CLB if facts of instant case related to facts of civil su

CL: Company Law Board in exercise of discretionary and summary jurisdiction was justified in dismissing petition under section 111 as facts involved in said petition were closely related with facts in issue in civil suits filed by petitioner

Fortnight bills issued by truck owners couldn’t be deemed as consignment notes for purpose of GTA se

Service Tax : Fortnightly bills issued by individual truck owners transporting sugarcane, cannot be regarded as 'consignment note' and said service cannot be regarded as Goods Transport Agency's Services

Violation of sec. 13 results in denial of benefits in assessment and isn’t relevant to allow registr

IT : A trust or institution which is carrying on educational activities will fall within ambit of charitable purpose under section 2(15) even if it incidentally involves carrying on of commercial activities

AO must seek Committee's approval to tax indirect transfer cases for income arising before 1-4-2012

IT/ILT : Section 119 of the Income-Tax Act, 1961 - Income-Tax Authorities - Instructions to Subordinate Authorities - Constitution of A Committee for Proper Administration of Certain Clarificatory Amendments Introduced in Clauses (14) And (47) of Section 2, Section 9(1)(i) and Section 195 vide Finance Act, 2012 – Specified Directions to Assessing Officer in this regard