AO couldn't doubt genuineness of share transaction merely on basis of statement of third party

IT: Where no incriminating material was found during search which could indicate that long-term capital gains arising out of sale of shares was bogus and assessment was completed without considerating details of purchase of shares produced by assessee, assessment was void

Due date for e-filing of returns for e-commerce dealers of Delhi further extended by one month

VAT : Section 27 of the Delhi Value Added Tax Act, 2004 - Power to Require Other Returns – Extension of Last Date for Filing of Online Returns for First and Second Quarters of Year 2015-16, in Forms EC-II and EC-III

Act of removal of a shareholder without consideration to take over control of co. is oppressive

CL: Act of respondent shareholder and director of R1 company, putting petitioner i.e shareholder having 50 per cent interest in R1 company, to believe that he could get consideration to exit from company by entering into business separation agreement and conciously keeping him away from business of company and taking control of entire company, amounted to oppressive acts against petitioner

Supreme Court has power to reduce interest on delayed payment even below rate fixed under bond

Excise & Customs : Mere because, as per bond, assessee had agreed to pay interest at 24 per cent per annum, that would not take away right of Supreme Court to reduce rate of interest if ends of justice so warrant; hence, on facts, rate was reduced to 9 per cent

Dealers of SIM cards can't take credit of service tax paid by telecom companies

Cenvat Credit : Dealers of SIM Cards/Recharge vouchers cannot be regarded as 'recipients of telecom services' provided by telecom companies; hence, said dealers cannot take input service credit of service tax paid by telecom companies

Fee paid for global market survey to determine business prospects in India isn't 'FTS' under India-U

IT/ILT: Where assessee, an Indian company, had merely availed services of U.K. Company for global market survey to determine business prospects to carry out project in India, since these services were neither geared to nor did they 'make available' any technical knowledge, skill or experience to assessee or consisted of development and transfer of a technical man or technical design to assessee, article 13 of DTAA between India and U.K. could not apply

In an appeal filed by assessee Tribunal can't enhance rate of duty determined by Commissioner(A)

Service Tax/Excise/Customs : In absence of revenue's appeal, Tribunal cannot enhance duty/rate thereof in assessee's own appeal; assessee cannot be worse off by reason of filing an appeal

Cars donated by 'Hyundai' to Police Dept. is CSR exp; disallowable under sec. 37(1)

IT : Expenditure incurred by car-manufacturer on gifts of cars to State police department was held not an eligible expenditure under section 37(1) as it was found not incidental to carrying on business and there was no commercial expediency in incurring this expenditure

Chief CIT rightly ordered forfeiture of bidding amount on failure of petitioner to pay entire amount

IT: Where petitioner did not pay entire bid amount within stipulated time as per terms and conditions on which bids were invited by income-tax department for subject property, decision of Chief Commissioner for forfeiting amount already paid by petitioner was justified

Deemed credit is allowed even if assessee doesn't pay duty at time of purchase

Central Excise : In case of deemed credit, there is no obligation on part of assessee to pay duty at time of purchase; hence, deemed credit at deemed rates is allowed even if no duty was actually paid by assessee at time of purchase

SEBI issues simplified listing agreement uniform across all types of securities/listed entities

SEBI : Format of Uniform Listing Agreement

Petition for transfer of shares filed under oppression plea couldn't be rejected on mere non-complia

CL: Mere non-compliance with section 108 could not be a ground to set aside transfer of shares in petition under sections 397 and 398

'Nizral shampoo' meant to cure dandruff is a medicament and not cosmetic

Excise & Customs : 'Nizral Shampoo' meant to 'cure' disease of 'dandruff' is a 'medicament' classifiable under Heading 3003.10 (duty 16 per cent) and not a 'cosmetic preparation for use on hair' classifiable under Heading 3305.99 (duty 24 per cent)

No ad-hoc addition by AO on rice-dealer if his yield was incommensurate with industrial rate of gros

IT : Where assessee's yield from trading of rice was commensurate to industrial gross profit, ad hoc addition made was unjustified

Sum paid on purchase of internet connection isn't 'FTS'; not liable to TDS under sec. 194J

: Internet charges could not be regarded as fees for technical services and, hence, assessee was not bound to deduct tax at source under section 194J in respect of leased line expenses

AO couldn't prove suppressed production on basis of sample of electricity consumed in one hour

IT: AO couldn't prove suppressed production on basis of sample of electricity consumed in one hour

Parties can't file additional evidence on their own except on demand of ITAT

IT: Parties to appeal cannot produce additional evidence of their own but if Tribunal so requires, same can be produced on recording of reasons by Tribunal

No credit can be taken on basis of invoices neither addressed to assessee nor endorsed in his favour

Cenvat Credit : Credit of duty-paid returned goods can be allowed only if invoice is in name of person availing credit or invoice is endorsed in favour of assessee; credit cannot be taken on invoice in name of a third party

HC allowed sec. 80-IB relief for entire housing project though completion certificate wasn't granted

IT: Where assessee had completed construction of its entire housing project and applied for Building use permission/completion certificate within prescribed time-limit, it would be entitled to deduction under section 80-IB(10) notwithstanding fact that it could not receive permission for its entire project

Tribunal didn't examine facts to determine place of removal; matter remanded

Excise & Customs : Transit freight/insurance is includible in value only upto 'place of removal' and 'Place of removal' is dependent upon facts and where said place of removal was not examined by Tribunal on facts, matter was remanded back