Free warranty services provided by vehicle dealers out of their margin isn't liable to service-tax

Service Tax : Free warranty services provided by vehicle-dealers to vehicle-buyers from out of their dealer's margin/handling charges, cannot be regarded as Authorised Service Station Services to vehicle-manufacturer and not liable to service tax

Punjab VAT Rule providing availment of input credit at reduced rate is effective from Apr 1, 2014: H

CST & VAT: Punjab VAT - Provisions of rule 21(8) incorporated in VAT Rules to provide that goods that have already earned input tax credit would avail of input tax credit at reduced rate of taxation applicable on date of sale would come into effect from 1-4-2014

Receipt of share application in cash doesn't violate provisions of sec. 269SS

IT : Where assessee-company had received an amount of Rs. 35 lakhs from its directors towards share application money in cash, provisions of section 269SS were not applicable in instant case

Receiving duty paid goods from job worker treated as purchase in hands of principal manufacturer

Central Excise : Return of processed fabrics by job-workers is valued as if it is 'sold' by job-worker; once it is treated as 'sale' by job-worker, it would amount to 'purchase' by assessee and specified processed carried out by assessee subsequent to said 'purchase' would be exempt under Notification No. 38/2003-CE

Quotation of identical price by bidders in tenders floated by 'Western Coalfield' was anti-competiti

Competition Act: Where OPs, service providers in colliery areas, had quoted identical prices above estimated cost in tenders floated by informant for transportation of sand and coal, conduct of OPs was anti-competitive

Rule 10B doesn't prescribe minimum number of companies for comparability analysis

IT/ILT: Where in case of one comparable selected by TPO, there was amalgamation of another company and said extraordinary event resulted in earning of high operating margin of that company, it had to be excluded from list of comparables

A super profit making co. is excludible from comparables list particularly when it is functionally d

IT/ILT: A super profit making company cannot be selected as comparable particularly when it was functionally different

Govt. authorizes post offices to receive sovereign gold bond applications

IT/BANKING : Sovereign Gold Bond Scheme, 2015 – Notified Designated Post Offices for Said Scheme

AO couldn’t pass attachment order if assessee had filed appeal against such order alongwith stay app

IT : Where assessee filed an appeal challenging order of assessment within time period prescribed under section 246 alongwith a stay application, Assessing Officer could not pass an order of attachment in terms of section 281B during pendency of said appeal

There could be no motive in mis-declaration of value when goods were wholly exempt

Excise & Customs : Where, based on opinion of expert body, Tribunal found that : (a) goods were software and exempt from duty and (b) declared value thereof was not excessive, said findings, being findings of fact, were not to be interfered with

Union Cabinet nods to protocol amending India-Turkmenistan DTAA

IT/ILT/INDIAN ACTS & RULES : Section 90 of the Income-Tax Act, 1961 – Double Taxation Agreement – Agreement fsor Avoidance of Double Taxation and Prevention of Fiscal Evasion with Foreign Countries – Protocol Amending Convention Between India and Turkmenistan

Prawns are non-agricultural produce; no excise exemption on gas compressors used for storage of praw

Central Excise : Shrimps/Prawns cannot be treated as agricultural produce; hence, goods meant for preservation, etc. of 'Shrimps/Prawns' cannot be exempted under Notification No. 6/2002-CE

Imported Wax used for coating can't be treated as consumable for availing concessional duty

Central Excise : Imported Wax used for 'wax coating' on cotton yarn, is a 'raw material' and not 'consumable'; therefore, owing to use of imported raw material, assessee-EOU cannot avail concessional rate of duty on DTA clearances under Notification 8/97-CE

Condition of recording satisfaction u/s 153C can't be bypassed even if AO of searched person and oth

IT: Recording of satisfaction by Assessing Officer having jurisdiction over person searched is an essential and prerequisite condition for bestowing jurisdiction to Assessing Officer of 'other person' under section 153C; even where Assessing Officer of searched person and such other person is same, Assessing Officer has to carry out dual exercise, first as Assessing Officer of person searched in which he has to record satisfaction and second as Assessing Officer of 'other person'

Sum paid to clear mortgage can't be held as exp. incurred in connection with transfer under sec. 48

IT: Amount spent a discharge of mortgage created by assessee after acquiring property, would not be deductible as expense under section 48(1)(i)

Refund of wrongly paid ST under reverse charge not hit by principle of unjust enrichment

Service Tax : Service tax wrongly paid by a sole-proprietorship under reverse charge on Goods Transport Agency's Services is refundable along with interest and bar of unjust enrichment would not apply thereto

Prior to 16-5-2008, services for starting of software couldn't be taxed as management consultancy se

Service Tax : Services relating to implementation of software cannot be taxed under Management Consultancy Services; it is taxable under Information Technology Software Services only from 16-5-2008

No rectification to disallow depreciation if it wasn't clear when asset was put to use

IT : In respect of rejecting assessee's claim for excessive depreciation, issue as to when assets were actually put to use during relevant year was a debatable issue and, thus, rectification order passed by Assessing Officer in respect of said issue was not sustainable

No input tax credit of VAT paid on coal which was used as fuel in manufacturing

CST & VAT : West Bengal VAT - Where assessee purchased coal after payment of VAT and used same both as raw material and fuel in manufacture of sponge iron, it was entitled to input tax credit only on that part of purchase price of coal which was utilised solely as raw material

Contract to build body of buses on chassis held as sale and not works contract

IT: Where assessee handed over chassises to fabricating agency on account of its expertise with an understanding that bus as a finished product would be delivered to assessee, said activity was a sale not works contract and assessee was not liable to TDS on payment to said agency