Toilet papers couldn't be valued on MRP basis under sec. 4A; their valuation was to be made under se

Excise & Customs : 'Toilet paper' classifiable under Tariff Item 48181000 is not covered under Sl. No. 55 of Notification No. 49/2008-CE(NT) and is not assessable under section 4A; same is to be valued as per section 4

Manufacturers of ‘air springs assembly and other metals parts’ are eligible to claim benefit of sec.

IT: Where assessee engaged in manufacturing of 'air springs assembly and other metal parts' claimed deduction under section 80-IC, in view of fact that imported material as well as local materials were used in manufacturing process which resulted in a final product quite distinct from components used and had distinct usage too, assessee's claim for deduction was to be allowed

Cable operators are eligible to take input credit of services received from multi-system operators

Service Tax : In case of cable operators, prima facie, demand should be raised based on collections received from customer after allowing credit of service tax paid on service received from multi system operator

Issue of disallowance couldn’t be raised before CIT(A) if disallowance was made by CIT in revisional

IT: Matter remanded where revenue submitted that assessee could not raise issue of disallowance of bad debts before first appellate authority when disallowance was upheld by Commissioner in revision

HC upheld VAT penalty when dealer confessed that silver bar unearthed during survey wasn’t accounted

CST & VAT : Where Assessing Officer conducted survey upon assessee and found certain silver bar, which was not accounted for in account books, and thereupon assessee appeared before Assessing Officer and admitted that silver bar was neither accounted for in account books nor bill was available, Assessing Authority had rightly imposed penalty upon assessee under section 77(8)

No revision to disallow sec. 10AA deductions to a SEZ unit duly approved and recognized under SEZ Ac

IT: Revision on ground that assessee had not fulfilled eligibility conditions as SEZ was unjustified where it was found that assessee was duly granted approval by SEZ authorities to set up SEZ unit, it was recognized as an entrepreneur under SEZ Act and was also granted renewal of approval for trading by competent authority under SEZ Act

Society of labourers supplying manpower services on daily wage basis are liable to service-tax

Service Tax: A registered society of retrenched labourers supplying labourers on daily wage basis is, prima facie, liable to service tax under manpower recruitment or supply agency services.

Exp. reimbursed to NR agent in relation to export sales couldn’t be disallowed treating it as post-s

IT/ILT: Where in terms of sales agreement, assessee had agreed to bear expenses relating to export sales carried out on its behalf by consignment agent located abroad, assessee's claim for deduction of said expenses could not be rejected taking a view that same were in nature of post sales expenses

Co-op. society exempted from withholding of taxes under sec. 194A on interest paid to its members: I

IT : Where assessee, a co-operative society, carrying on banking business, paid interest income to members on both time deposits and on deposits other than time deposits, it was not required to deduct tax at source under section 194A by virtue of exemption granted vide clause (v) of sub-section (3) of said section

CA held guilty of professional misconduct for filing bogus form with ROC to claim undue interest in

Chartered Accountants Act : Where respondent Chartered Accountant had filed bogus forms with ROC appointing directors of complainant company and had taken undue interest in matters of company after his resignation as auditor, respondent was guilty of professional misconduct

On claiming full exemption by assessee its credit balance had lapsed under Rule 11 and couldn't be u

Excise & Customs : If assessee starts claiming full exemption from duty from 1-4-2008, credit balance as on 31-3-2008 (after appropriate reversals in relation to stocks) would lapse under rule 11 of CENVAT credit Rules, 2004 and cannot be used in June, 2008 even for payment of duty on clearances made in March 2008 itself

ITAT makes sec. 14A disallowance by estimating 2% of dividend income as incidental exp. for earning

IT : When assessee had not furnished details of expenditure, reasonable estimation of expenditure attributable to dividend income has to be made at 2 per cent of gross dividend income; section 14A disallowance is to be made of said amount

HC waives of pre-deposit demand of penalty on pre-deposit of entire service tax and interest by asse

Service Tax : Where appeal before Tribunal was dismissed for non-compliance with pre-deposit, High Court restored appeal before Tribunal on pre-deposit of entire service tax and interest and waived pre-deposit of penalty

No concealment penalty if assessee didn’t intend to furnish inaccurate of land specifying municipal

IT: Where assessee claimed that his agricultural land was situated beyond 8 kms. of municipal limits and produced some certificates regarding said property, concealment penalty should not be imposed

HC denied to stay winding up order as revival scheme of liquidating Co. wasn't bonafide

CL : Where schemes for revival of a company in liquidation presented by unsecured creditors, secured creditors, shareholders, etc. were not bona fide and such applicants did not have any locus standi to come before Court, prayer for stay of winding up order was to be rejected

Sums paid to DTH operators for placement of channels in a particular frequency couldn’t be deemed as

IT/ILT : Channel placement fee paid by assessee to cable TV operator/DTH provider could not be regarded as royalty in terms of Explanation 2 to section 9(1)(vi)

Tribunal had to follow principle of consistency in its interim order, says CESTAT

Cenvat Credit : Where Tribunal has granted stay in matter relating to same assessee for earlier period, Tribunal must follow consistency in rendering judgments or passing interim orders to ensure legal propriety and judicial discipline and stay must be granted in subsequent matters as well

Unconditional dispensing of pre-deposit order by CESTAT without safeguarding interest of revenue was

Service Tax : If authority chooses to dispense with pre-deposit, it must impose such conditions as it deems fit to safeguard interests of revenue; an order dispensing with pre-deposit without imposing any condition is illegal

MCA tweaks norms on appointment of auditor by CAG

COMPANIES ACT, 2013/INDIAN ACTS & RULES : Companies (Removal of Difficulties) Seventh Order, 2014 – Amendment in Section 143 of The Companies Act, 2013

Activities statutorily required to be done prior to import couldn't be deemed as manufacture in Indi

Excise & Customs : Labelling/relabelling/repacking/affixation of MRP, etc. carried out as a statutory requirement prior to importation of goods covered under 3rd Schedule to Central Excise Act cannot be regarded as 'manufacture within India' because 'import into India' is complete only after said activity is done