Sec. 80-IA tax holiday applies to profits of telecom business and not restricted to profits “derived

IT: The use of non-obstante clause in section 80-IA(2A) would show that tax holiday to undertaking providing telecommunication services is in respect of "profits of eligible business" and not restricted to "profits derived from eligible business" as mentioned in section 80-IA(1)

No penalty for disallowance under normal provisions if tax was levied under MAT for cases prior to 1

IT/ILT : Section 115JB, Read with Sections 115JA and 271(1)(c), of the Income-Tax Act, 1961 – Minimum Alternate Tax – Penalty Under Section 271(1)(c) Wherein Additions/Disallowances made under Normal Provisions of the Said Act but Tax Levied under MAT Provisions Under Sections 115JB /115JC, for Cases Prior to Assessment Year 2016-17

AOs to prepare satisfaction note under Sec. 153C as per SC's guidelines in Knitwear's case: CBDT

IT : Section 153c, Read with Section 158BD, of the Income-Tax Act, 1961 – Search and Seizure – Assessment of Income in Case of Other Person – Recording of Satisfaction Note Under Section 158BD/153C of Said Act

CESTAT referred matter to Third Member to classify the services provided by ‘Infosys’

CENVAT : Since there was difference of opinion between two members of Tribunal as to whether services provided by assessee engaged in exporting software consultancy, development of software, maintenance or repair of software and management consultancy in relation to ERP software implementation were taxable under head 'management maintenance or repair' service or 'consulting engineers' service and to what extent same was taxable, matter was to be referred to Third Member

Value of DTA clearances made by EOU is determined as per customs law and not as per local sale price

Excise & Customs: In case clearance by EOU to job-workers in DTA, local sale price in India cannot be regarded as 'customs value' under proviso to section 3(1) of Central Excise Act, 1944; value is to be determined as per customs law

Cab service utilized by BPO Company for transportation of its employees is eligible input service

Cenvat Credit: Cab services utilised by a BPO company for transportation of its employees to and from work place and their homes, are eligible for input service credit

Leading provider of BPO service isn’t comparable with a Co. rendering technical support services of

IT/ILT: Leading provider of business process outsourcing service cannot be compared to company rendering technical support services by its own

CBDT notifies revised Rules for quoting of PAN and reporting of transactions to tax authorities

IT/ILT/INDIAN ACTS & RULES : Income-Tax (Twenty Second Amendment) Rules, 2015 – Substitution of Rules 114B, 114C, 114D, 114E, Form No.60, 61 and 61A

Though no Cenvat reversal is required on exchange of inputs with AE, penalty can levied for not issu

Cenvat Credit : No cenvat reversal can be demanded on exchange of inputs with associate/related companies, as demand is revenue neutral; however, for infraction of procedural rule 3(5) of CENVAT Credit Rules, 2004, penalty is leviable

No denial of exemption to an institute just because it was training already trained persons

IT: Where assessee-society was providing latest information and training to those persons who were already in relevant field of advertising communication, etc. and in such process if certain persons became super-specialists in particular field and institution was charging fee, case would not fall under proviso to section 2(15)

Toilet preparations containing alcohol aren’t liable to excise duty under Central Excise Act

Excise & Customs: Toilet preparations containing alcohol are subject to excise duty under Medicinal and Toilet Preparations (Excise Duties) Act, 1955 and said duty is collected by States; duty cannot be demanded thereon under Central Excise Act

GAIL didn't abuse its dominance by requiring purchaser to pay for fixed quantity of Gas as per sales

Competition Act: Where OP, distributor of natural gas, invoked 'pay for if not taken' liability under gas sales agreement (GSA) with informant, conduct of OP was not abusive as GSA was entered into by parties after thorough negotiation

No TP addition for export to AE at purchase price if it was made to retain status of Export House

IT/ILT : Export of commodities to AE at the same price at which those were purchased from local market did not call for transfer pricing adjustment if transaction was made by assessee to retain the status of Star Export House

No abuse of dominance by GAIL for invoking ‘pay for if not taken’ liability as per gas sales agreeme

Competition Act: Where OP, distributor of natural gas, invoked 'pay for if not taken' liability under gas sales agreement (GSA) with informant, conduct of OP was not abusive as GSA was entered into by parties after thorough negotiation

Goods used for execution of work contract entitled for CST registration even if not transferred to c

CST & VAT : Central Sales Tax - Where assessee, a works contractor, applied for inclusion of construction equipment, plant, machinery and tools used in process of execution of works contract in certificate of registration under Central Sales Tax Act, said items were eligible for inclusion

Export commission paid to NR agent via banking channel couldn’t treated as unverifiable; allowable

IT: Books of account were rejected, where majority of purchases were found to be not verifiable

MCA extends deadline to file Annual Return and Financial Statements forTamil Nadu and Puducherry

COMPANIES ACT, 2013 : Section 137 of The Companies Act, 2013 - Accounts of Companies - Copy of Financial Statement to be Filed with Registrar - Relaxation of Additional Fees and Extension of Last Date of in Filing of Forms MGT-7 (Annual Return) and AOC-4 (Financial Statement) for State of Tamil Nadu and Union Territory of Puducherry

CBDT mandates e-filing of appeal before CIT(A) for taxpayers who are liable to e-file tax return

IT/ILT : Section 249 of The Income-Tax Act, 1961 – Commissioner (Appeals) – Form of Appeal and Limitation – Electronic Filing of First Appeal Before Cit (Appeals)

No abuse of dominance by 'Uber' in providing taxies at low fares; CCI rejects complaint of Meru Cabs

Competition Act : Where there was existence of yellow taxis which posed a significant competitive constraint on other taxi operators in the city of Kolkata. In such a scenario, it was difficult to accept the contention of the Meru cabs regarding UBER Group's dominance in providing the radio taxi services in Kolkata

AO should grant stay in high pitch assessment considering old Instruction of CBDT

IT : In case of high pitch assessment Assessing officer should follow Instruction No. 95 to grant stay of demand. Instruction No. 95 was not superseded by subsequent Instruction No. 1914.