Co. providing complex product development services can't be compared with Co. rendering only develop

IT/ILT : A captive unit of a comparable company which assumes only a limited risk, cannot be compared with a giant company in area of development of software who assumes all types of risks leading to higher profits

No vicarious liability of College Chairman for cheque bouncing if college wasn't arrayed as on accus

Negotiable Instruments Act : Where borrowings were effected for development of college, Chairman of college could not be proceeded against under section 138 on dishonour of cheque issued towards repayment of loan, if college was not arrayed as an accused

Sale at factory-gate wasn't undervalued merely because stock statements showed higher value of goods

Central Excise : Merely because price at godown (or in stock statements) was here, department cannot allege undervaluation in case of factory-gate sales

Sum paid to foreign consultant for interior designing of hotel isn't FTS

IT/ILT: Where there is no transfer of technology, technical know-how or any technical knowledge or skill that assessee can apply in furtherance of his business objects, payments for same to a Singaporean company does not fall within scope of 'fees for technical services' as per India-Singapore DTAA

ITAT could review its own order when it noticed that assessee wasn't duly served with hearing notice

IT : Appeal against Tribunal's order was rejected where Tribunal merely remanded issue of computation of deduction under section 80HHC to Assessing Officer for fresh consideration

AO who is engaged in election duty can demand extra time for verification of additional evidence, sa

IT : Where Assessing Officer sought one month time for due verification of additional evidence produced by assessee by stating that he was on election duty and number of cases of assessment in which time limitation was going to expire was pending, Commissioner (Appeals) should accept his demand

No violation of sec. 13 when exp. wasn't incurred on property of trustee as property was gifted to t

IT: Where assessee-trust incurred expenditure towards development expenses on leasehold land gifted by trustees to assessee by HIBA(oral gift), since subsequently said land was transferred to assessee by way of gift deed, trustees were not benefitted in any way, and, thus, there was no violation of provisions of section 13(1)(c)

No illegality was found in proposal to issue and allot shares as resolutions were passed in a duly c

CL: Where company had complied with all formalities in convening and holding AGM, requisite quorum was present and resolutions were passed in a democratic manner and decisions taken in AGM were legal and valid, no case of interference was called for

Interest earned on fixed deposits made by society out of its income is also eligible for sec. 80P re

IT: Where interest income earned by assessee society by providing credit facilities to its members was deposited in banks for a short duration which had earned interest, said interest on deposits was attributable to business of banking of assessee and it was liable to deduction under section 80P(2)(a)(i)

Trust giving educational scholarship can't be said to be engaged in object of general public utility

IT : Scholarships is 'education', not 'any other object of general public utility'. Trust cannot be denied exemption by invoking the first proviso to sec 2(15) where its activities in fact fall within the heads 'education', 'medical relief' and 'relief of the poor' even if its objects allow it to carry on any activity for 'advancement of any other object of general public utility'

Roaming facility doesn’t require human intervention; roaming charges paid by Telecos aren’t ‘FTS’

IT : The provision of roaming services do not require any human intervention and accordingly, cannot be construed as technical services. Thus, payment of roaming charges by telephone operator does not fall under the ambit of TDS provisions under section 194J.

Digital Still Image Video Camera is liable to be taxed at 4% under Delhi VAT

CST & VAT : Delhi VAT - Digital Still Image Video Camera sold by assessee during period 1-4-2005 to 7-8-2005 was not covered under Entry No. 41 of Third Schedule to VAT Act, whereas said product sold during period 30-11-2005 to 31-12-2007 would fall under clause 15 of Entry No. 41A of Third Schedule

Exp. incurred on repairing of Multiplex building is revenue exp.

IT : Where expenditure on account of repairs and maintenance of buildings and theatres was only for purpose of carrying on of business and did not bring any capital asset into existence, same was to be treated as revenue in nature

Profit from forex fluctuation is an operating income; to be considered while determining ALP under t

IT/ILT : Foreign exchange fluctuation income is an operating income and thus same has to be taken into consideration while determining ALP of international transactions entered into by assessee

No dismissal of rectification plea on basis of objection of revenue without giving hearing opportuni

IT : Where on a rectification application filed by assessee, under section 254(2), Tribunal dismissed appeal in view of revenue's preliminary objection, a prejudice was caused to assessee and appeal was to be decided again

Appeal filed belatedly without any Condonation application is liable to be dismissed

Service Tax : Where belated appeal has been filed without any application for condonation of delay, appeal is liable to be dismissed as time-barred and Commissioner (Appeals) is not duty-bound to notify said defect

No addition of unexplained purchases as no adverse comments were made on such purchases in sales tax

IT : Where notice under section 153C was issued on 6-7-2010 which fell in assessment year 2011-12, for assessment years 2003-04 and 2004-05, notice was barred by limitation and assessment completed pursuant to said notice was to be quashed

Demanding EMI from buyers without revealing cancellation of building plans was unfair trade practice

Competition Act: Where complainant had booked for allotment of office space in proposed building of respondents and respondents continuously suppressed facts relating to rejection of building plans, demanded instalments of price and also forced complainants to accept car parking by paying additional sums, it amounted to unfair trade practice

TP adjustment deleted as margin of AE segment was within the tolerance limit

IT/ILT : Where margin of assessee's AE segment came within +/- 5 per cent range when compared to arithmetic mean/PLI, computed by TPO, no TP adjustment was required to be made

Failure to explain source of deposits would invite additions even if assessee was taxable on presump

IT : Where assessee did not maintain any books of account and failed to explain additions made in his account under section 68, addition made was justified