Activity of distribution of lottery isn't liable to service-tax, rules Sikkim High Court

Service Tax: Activity of buying and selling of lottery is not service. Department cannot demand service tax on said activity on basis of Rule 6(7C) of Service Tax Rules since it is an optional scheme of payment of tax and does not create a charge of service tax

ITAT apportions exp. on living Germplasm and technical know-how between capital and revenue exp.

IT : Where under a long term licensing agreement, assessee acquired genetic material for cereals, seeds, etc. i.e., organic Germplasm as also technical know-how in bio-technology field along with right to future development and improvement and such technology would benefit assessee even after expiry of agreement period and even assessee could sell germplasm, a part of expenditure paid by assessee would be apportioned as capital expenditure

HC slams ITAT for deciding case in casual manner by merely following its earlier order

IT : Where Tribunal in respect of withdrawal of deduction under section 36(1)(viia), merely followed its order for preceding assessment year and upheld order passed by Commissioner in a casual manner, same was not justified; matter was to be remanded back to Tribunal

Sec. 14A disallowance shall also be added back for computing book profits under sec. 115JB

IT: Where assessee-company engaged in business of pharmaceuticals received product development charges which were credited to profit and loss account as part of normal sales, same was not to be reduced from expenditure incurred by assessee on carrying out scientific research on which section 35(2AB) deduction had to be allowed

Allahabad HC directs revenue to pay interest on assets seized above 19 years after completion of ass

IT : Where revenue had retained assets of assessee, viz., FDR, Indira Vikas Patra, Kisan Vikas Patra even after completion of assessment unreasonably for long duration without renewal and encashment thereof resulting in loss of interest which seized assets could have earned in normal course of things, revenue was directed to pay such interest to assessee

Order of provisional release of seized goods is an appealable order

Excise & Customs: Order of adjudicating authority granting provisional release of seized goods, is an appealable order; therefore, writ petition against said order was dismissed citing bar of alternate remedy

No deemed dividend if lender-co. had share premium reserve and not accumulated profits to declare di

IT: Where assessee-company created a reserve out of share premium, provisions of section 2(22)(e) would not be applicable as same would be governed by section 78 of Companies Act, 1956

Reimbursement to director for payment made by him via credit card on behalf of co. wasn't deemed div

IT: Where assessee made payments on behalf of company using his credit card which had been reimbursed by company, same could not be treated as deemed dividend under section 2(22)(e)

Levy of services charges on e-tickets doesn’t amount to abuse of dominance position by Railways

Competition Act : E-ticketing facility in Railways is an additional value added service offered by IRCTC and any customer wishing to avoid payment of service charges may not register himself with IRCTC but can book tickets through manual PRS counters without paying any service charge and, therefore, levy of service charges on e-tickets does not amount to an abuse of dominant position by Railways

Duty could be paid using credit in absence of specific restriction in case of withdrawal of fortnigh

Excise & Customs : In case of withdrawal of monthly/fortnightly facility to pay duty, mere provision that 'duty should be paid through account current' does not amount to restriction on use of Cenvat credit; hence, in absence of any specific restriction on use of credit, payment of duty using credit is valid

Failure to quote PAN while filing appeal before CIT(A) due to ignorance doesn't attract penalty

IT: Where assessee failed to quote permanent account number(PAN) while filing appeal before Commissioner (Appeals), since default made on part of assessee was because of her ignorance and not because of any mala fide intention, penalty levied under section 272B was to be deleted

No reassessment to make disallowance for TDS default if impugned exp. wasn’t deducted in original as

IT : Where Assessing Officer initiated reassessment proceedings on ground that assessee had paid labour expenses without deducting tax at source which resulted in under assessment of income, but in fact amount in question had not been claimed as deduction, impugned reassessment proceedings deserved to be quashed

Complaint for cheque bouncing filed by a managing director wasn’t maintainable as it wasn’t filed on

Negotiable Instruments Act: Complaint for cheque bouncing filed by a managing director wasn’t maintainable as it wasn’t filed on behalf of company

No ST on services provided for remittance of foreign currency during 1-7-2012 to 13-10-2014: CBEC

ST : Section 66B of The Finance Act, 1994 - Charge of Service Tax on or After Finance Act, 2012 - Mega Exemption Notifications - Levy of Service Tax on Services Provided by An Indian Bank or Other Entity Acting as an Agent to Money Transfer Service Operators in Relation to Remittance of Foreign Currency From Outside India to India

Sec. 206C doesn’t require seller to obtain declaration from buyer for non-collection of TCS at very

IT : Section 206C does not mandate that declaration from buyers in Form 27C for non-collection of TCS has to be obtained at very same moment when sale is effected

Person filing writ and pressing for adjudication on merits can't challenge jurisdiction of HC after

Excise & Customs : When assessee himself filed writ and pressed for adjudication on merits, then, merely because decision of High Court is unfavourable, assessee himself cannot challenge jurisdiction of High Court on ground that disputed questions of fact cannot be adjudicated in writ

No reassessment just because income remained untaxed due to non-coordination between departmental of

IT/ILT : Where assessee's income had escaped assessment by reason of omission to make disallowance of payment of subscription to non-resident under section 40(a)(ia) for non-deduction of TDS, reopening of assessment was justified

Modus operandi of running CIS through private trust are also within the purview of SEBI, says SAT

SEBI : In view of the close proximity between the appellant and the Trustee as also the AMC (appellant itself) no fault can be found with the decision of SEBI in holding that the appellant had adopted a modus operandi of operating CIS through the medium of a Trust

AO couldn’t reject books of account due to variance in current year's profit as compared to earlier

IT : Where Assessing Officer rejected books of account of assessee as profits declared in current year were not in consistent with other years, since Assessing Officer decision was based on conjectures and surmises, assessee's books could not be rejected

Revenue should give sufficient time to assessee to justify his claim while processing application un

IT : Where Commissioner (Exemptions) rejected application of assessee-society under section 12A without giving sufficient opportunity of being heard to assessee to sustain its claim before him, it was contrary to principles of natural justice; matter was to be readjudicated