Only software sold via internet is liable to service tax and software sold on a media doesn't attrac

Service Tax : Software sold electronically through internet is liable to service tax; but, software sold after loading same on physical media is 'goods' and not liable to service tax

SC: Profit derived from business of captive generation of power was deductible from book profits for

IT: Where assessee was mainly engaged in manufacture and sale of urea and was additionally engaged in captive power generation, profits derived from captive power plants were to be reduced from book profits for determining tax payable for purposes of section 115JA

AO to determine unexplained income on basis of highest peak of debit/credit on seized dairy, directs

IT : Where Assessing Officer did not consider explanation tendered by assessee regarding transactions recorded in seized diary and also overlooked working of peak credit given by assessee, income was directed to be determined on basis of highest peak of unexplained receipts and payments

HC directs AO to pass order on merits as assessment order was passed without giving hearing chance t

CST & VAT: Tamil Nadu VAT - Where Assessing Authority passed assessment orders under section 27 without affording opportunity to assessee, Assessing Authority was to be directed to pass orders on merits after providing opportunity of personal hearing to assessee

AO couldn’t treat exp. on launching of brand as deferred revenue exp. if it was in nature of revenue

IT : Where assessee follows mercantile system of accountancy, expenses due and payable are to be allowed, as an expenditure is not confined only to money actually paid towards a liability, but also covers a liability accrued, although discharge could be at a future date

Assessee was allowed to cross-examine witness who had certified serving of notice by affixing it on

Excise & Customs : Where department claims that notice/order was served by pasting on premises of assessee under a mahazar and assessee challenges that witnesses affixing their signatures on mahazar were not residents of that area, then, assessee may be granted an opportunity to cross-examine witnesses

Financial hardship need not be considered in stay application if case was against revenue as per Sup

IT : Where assessee raised plea that it being an agent of State Government its income was not taxable in view of article 289 of Constitution, unconditional stay would be granted pending disposal of appeal before Commissioner (Appeals)

No penalty on taking wrong credit under bona-fide belief which was formed due to interpretation of H

Cenvat credit : Even if assessee has taken credit wrongly in contravention of statutory provision but if same was with a bonafide reason or belief by interpretation of a judgment of a High Court, same does not amount to intention to evade and, therefore, penalty under rule 15(2) of CENVAT Credit Rules, 2004 cannot be levied

Market interest rate applicable to currency in which loan is repayable to AE has to be used to compu

IT/ILT : The arm's length interest rate for loan to overseas subsidiary should be computed based on the market determined interest rate applicable to the currency concerned in which the loan has to be repaid. Interest rates should not be computed on the basis of interest payable on the currency or legal tender or the place or country of residence of either party. There is no justification or cogent reason for applying PLR which is applicable to loans in Indian rupee for outbond loan from Indian

Special Courts can try all offences under IPC and Companies Act based on same transactions or facts

IT/ILT : The arm's length interest rate for loan to overseas subsidiary should be computed based on the market determined interest rate applicable to the currency concerned in which the loan has to be repaid. Interest rates should not be computed on the basis of interest payable on the currency or legal tender or the place or country of residence of either party. There is no justification or cogent reason for applying PLR which is applicable to loans in Indian rupee for outbond loan from Indian

AO to determine unexplained income on basis of highest peck of debit/credit on seized dairy, directs

IT : Where Assessing Officer did not consider explanation tendered by assessee regarding transactions recorded in seized diary and also overlooked working of peak credit given by assessee, income was directed to be determined on basis of highest peak of unexplained receipts and payments

Co. engaged in development of software isn't comparable to a Co. rendering related development servi

IT/ILT : Where TPO made addition to assessee's ALP in respect of rendering software development services, to its AE, in view of fact that some comparables selected by TPO were improper on account of their high turnover whereas in case of other comparables there was functional difference as they were engaged in developing software products, impugned addition was to be set aside and, matter was to be remanded back for disposal afresh

Special Courts can try all offences under IPC and Companies Act based on same transactions or facts

CL : Special court to try all offences under IPC & Companies Act based on same transaction or facts

Tribunal rightly denied consideration of fresh docs at interim stage as assessee failed to submit it

Service Tax : Where Tribunal denied consideration of fresh documents at interim stage and directed that same would be considered only at time of final hearing, said order of Tribunal was valid

AO directed to pay cost to assessee as inordinate delay in release of vehicle instigated mental tort

CST & VAT : West Bengal VAT - Where Authorised Officer had detained vehicle of assessee along with goods loaded therein on 7-9-2012 and declined to release vehicle and thereafter Tribunal by order dated 17-10-2012 directed Authorised Officer to release vehicle after unloading of goods, since assessee had to undergo mental agony and sufferings for month together, Authorised Officer was to be directed to pay Rs. 10,000 by way of cost to assessee

No penalty if assessee had wrongly claimed sec. 80-IB deduction without concealing particulars of in

IT: Where assessee's claim for deduction under section 80-IB in respect of SSI unit was denied on ground that it was a case of reconstruction of business, it could not be a ground to impose penalty under section 271(1)(c) taking a view that deduction was wrongly claimed

Info downloaded from internet doesn't prove that BCCI abused its dominance in granting franchise rig

Competition Act : Where Commission recorded findings that BCCI had abused its dominant position in contravention of section 4(2)(c) relying on information downloaded from net and similar other material, same were legally unsustainable, as such information did not have any evidentiary value without proof and same could not have been relied upon by Commission without giving an effective opportunity to appellant to controvert same

In best judgment assessment, income has to be computed on basis of net profit rate instead of Gross

IT : While making best judgment assessment, assessee's taxable income from business would be computed on basis of net profit rate shown by assessee in immediate preceding year and not based on gross profit rate of said year

Sum received by private Cos. from members/directors prior to April 1, 2014 not to be deemed as depos

COMPANIES ACT, 2013 : Section 74 of the Companies Act, 2013 - Repayment of Deposits, Etc., Accepted before Commencement of This Act – Amounts Received by Private Companies from Their Members, Directors or Their Relatives before 1-4-2014 – Clarification on Applicability of Companies (Acceptance of Deposits) Rules, 2014

CBEC allows e-payment of service tax till midnight of March 31, 2015

ST LAWS : Extension of e-payment Deadline and of Banking Hours