www.taxmann.com Latest Case Laws

CL : Oppression and mismanagement : Bald denial of siphoning off funds without any explanation with ... - Corporate Laws

Fri, 03 Feb 2012 18:13:47 GMT

CL : Oppression and mismanagement : Bald denial of siphoning off funds without any explanation with regard to withdrawal of funds constituted an admission of siphoning off funds
By [2012] 18 taxmann.com 40 (DELHI)

CL : In absence of material to show that goods supplied by petitioner company to respondent company ... - Corporate Laws

Thu, 02 Feb 2012 11:01:07 GMT

CL : In absence of material to show that goods supplied by petitioner company to respondent company had been returned, respondent was to be ordered to be wound up for non-payment of dues
By [2012] 18 taxmann.com 8 (KAR.)

SEBI : Prohibition contained in regulation 3 of Insider Trading Regulations, 1992, apply only when a... - Corporate Laws

Wed, 01 Feb 2012 19:01:32 GMT

SEBI : Prohibition contained in regulation 3 of Insider Trading Regulations, 1992, apply only when an insider trades or deals in securities on the basis of any unpublished price sensitive information and not otherwise
By [2012] 18 taxmann.com 15 (SAT)

CL : Mere act on part of financial institution in handing over possession of secured asset to provis... - Corporate Laws

Wed, 01 Feb 2012 15:30:50 GMT

CL : Mere act on part of financial institution in handing over possession of secured asset to provisional liquidator in pursuance of an order of company court and in seeking assistance of Court for sale of secured asset would not tantamount to relinquishment of security
By [2012] 17 taxmann.com 268 (MAD)

CL : Reduction of share capital by company due to recessionary conditions in manufacturing sector wa... - Corporate Laws

Tue, 31 Jan 2012 11:21:09 GMT

CL : Reduction of share capital by company due to recessionary conditions in manufacturing sector was to be allowed
By [2012] 17 taxmann.com 246 (KAR.)

SEBI : Whenever a substantial shareholder exceeds limit of two per cent in change of its shareholdin... - Corporate Laws

Tue, 31 Jan 2012 11:18:44 GMT

SEBI : Whenever a substantial shareholder exceeds limit of two per cent in change of its shareholding in company from date of last disclosure, whether in a single transaction or in tranches, provisions of regulation 13(3) of SEBI (Prohibition of Insider Trading) Regulation, 1992 are attracted
By [2012] 17 taxmann.com 240 (SAT)

CL : Winding up : Where respondent-company had received invoices from petitioner and had acknowledge... - Corporate Laws

Mon, 30 Jan 2012 18:40:49 GMT

CL : Winding up : Where respondent-company had received invoices from petitioner and had acknowledged debts, respondent was liable to pay dues to petitioner
By [2012] 17 taxmann.com 245 (KAR.)

CL : Company Court is entitled to protect dispositions of properties of company in liquidation effec... - Corporate Laws

Mon, 30 Jan 2012 18:38:22 GMT

CL : Company Court is entitled to protect dispositions of properties of company in liquidation effected during course of winding up if same are in ultimate interest of creditors
By [2012] 17 taxmann.com 244 (MAD)

Competition Act : Question as to whether BEST had abused its dominant position as per provisions of ... - Corporate Laws

Mon, 30 Jan 2012 18:26:55 GMT

Competition Act : Question as to whether BEST had abused its dominant position as per provisions of Competition Act, 2002, would depend entirely on extent of protection available to BEST under section 42(3) of Electricity Act, 2003 by virtue of being a local authority
By [2012] 17 taxmann.com 237 (CCI)

SEBI : Guidelines for consent orders and compounding of offences do not confer a vested right in any... - Corporate Laws

Mon, 30 Jan 2012 12:07:56 GMT

SEBI : Guidelines for consent orders and compounding of offences do not confer a vested right in any person to insist on acceptance of a proposed settlement
By [2012] 17 taxmann.com 236 (BOM.)

CL : Winding up petition : Where there was bona fide dispute between petitioner employee and respond... - Corporate Laws

Tue, 24 Jan 2012 15:18:31 GMT

CL : Winding up petition : Where there was bona fide dispute between petitioner employee and respondent-company relating to non-payment of notice salary and other service benefits
By [2012] 17 taxmann.com 216 (KAR.)

CL : Validity of sale agreement executed after commencement of winding up where applicant was a bon... - Corporate Laws

Tue, 24 Jan 2012 15:12:52 GMT

CL : Validity of sale agreement executed after commencement of winding up where applicant was a bona fide prospective purchaser of property of company-in-liquidation in good faith
By [2012] 17 taxmann.com 215 (ALL.)

CL: An inter-corporate depositor (ICD) cannot be classified as a secured creditor merely because it ... - Corporate Laws

Tue, 24 Jan 2012 15:10:02 GMT

CL: An inter-corporate depositor (ICD) cannot be classified as a secured creditor merely because it has a decree and certain shares are pledged with it
By [2012] 17 taxmann.com 214 (DELHI)

CL: Existence of arbitration clause is no ground to dismiss an application seeking winding up - Corporate Laws

Tue, 24 Jan 2012 15:03:13 GMT

CL: Existence of arbitration clause is no ground to dismiss an application seeking winding up
By [2012] 17 taxmann.com 213 (AP)

CL : Winding up petition not admissible where there exist serious disputes with regard to quality of... - Corporate Laws

Tue, 24 Jan 2012 10:59:31 GMT

CL : Winding up petition not admissible where there exist serious disputes with regard to quality of goods supplied
By [2012] 17 taxmann.com 212 (PUNJ & HAR)

CL : Winding up petition : Where debt was acknowledged by director of respondent company and statuto... - Corporate Laws

Tue, 24 Jan 2012 10:55:59 GMT

CL : Winding up petition : Where debt was acknowledged by director of respondent company and statutory notice for winding up was served on it at a place other than registered office as required by company itself
By [2012] 17 taxmann.com 211 (DELHI)

CL : It is not mandatory for Court to stay commencement and continuation of suit or proceeding as so... - Corporate Laws

Mon, 23 Jan 2012 18:37:48 GMT

CL : It is not mandatory for Court to stay commencement and continuation of suit or proceeding as soon as an application under sections 391 and 394 is moved in each and every case
By [2012] 17 taxmann.com 220 (ALL.)

CL: Winding up petition : Where respondent was not a running company and it had failed to pay an adm... - Corporate Laws

Mon, 23 Jan 2012 18:00:46 GMT

CL: Winding up petition : Where respondent was not a running company and it had failed to pay an admitted debt
By [2012] 17 taxmann.com 217 (DELHI)

SEBI : A person who may fall within definition of acquirer under regulation 2(b) of Takeover Regulat... - Corporate Laws

Mon, 23 Jan 2012 17:56:29 GMT

SEBI : A person who may fall within definition of acquirer under regulation 2(b) of Takeover Regulations, 1997 but has not acquired shares and is not a person acting in concert with person acquiring shares is not obliged to make disclosure under regulation 7(1A)
By [2012] 17 taxmann.com 209 (SAT)

CL : CLB was justified in allowing application of impleadment of appellant as party respondent witho... - Corporate Laws

Sat, 21 Jan 2012 12:24:46 GMT

CL : CLB was justified in allowing application of impleadment of appellant as party respondent without giving it prior notice
By [2012] 17 taxmann.com 200 (DELHI)

CL : Filing of complaint under section 141 when consortium of two banks has given a loan to a borrow... - Corporate Laws

Fri, 20 Jan 2012 10:58:41 GMT

CL : Filing of complaint under section 141 when consortium of two banks has given a loan to a borrower on strength of a guarantee document
By [2012] 17 taxmann.com 173 (DELHI)

IT : Where assessee-management consultant was organising conferences and sponsorship money was paid ... - Direct Tax Laws

Sat, 04 Feb 2012 11:55:05 GMT

IT : Where assessee-management consultant was organising conferences and sponsorship money was paid to it after conceptualisation of conferences, it could not be said that assessee had undertaken to organize said conference at instance of sponsors and, hence, provisions of section 194C(2) could not be invoked
By [2012] 18 taxmann.com 36 (MUM. - ITAT)

IT : No interest could be charged under section 234B where assessee had no liability to pay advance ... - Direct Tax Laws

Fri, 03 Feb 2012 17:28:45 GMT

IT : No interest could be charged under section 234B where assessee had no liability to pay advance tax in view of fact that his entire income was subject to deduction of tax at source
By [2012] 18 taxmann.com 34 (DELHI)

IT : When jurisdictional preconditions are missing, assessee can question reopening of assessment in... - Direct Tax Laws

Fri, 03 Feb 2012 15:30:58 GMT

IT : When jurisdictional preconditions are missing, assessee can question reopening of assessment in appellate proceedings also
By [2012] 18 taxmann.com 29 (DELHI)

IT : On failure of assessee to prove that expenditure incurred on foreign travel of wife of Chairman... - Direct Tax Laws

Fri, 03 Feb 2012 15:27:01 GMT

IT : On failure of assessee to prove that expenditure incurred on foreign travel of wife of Chairman was for business purpose, its claim for deduction in respect of said expenses was to be rejected
By [2012] 18 taxmann.com 28 (MAD.)

IT : Section 54F exemption not available where builder not even allotted plot within 3 years - Direct Tax Laws

Fri, 03 Feb 2012 15:18:34 GMT

IT : Section 54F exemption not available where builder not even allotted plot within 3 years
By [2012] 18 taxmann.com 33 (INDORE - ITAT)

IT/ILT : Section 195(1) does not envisage deduction of tax at both instances, i.e., at time of credi... - Direct Tax Laws

Fri, 03 Feb 2012 15:13:56 GMT

IT/ILT : Section 195(1) does not envisage deduction of tax at both instances, i.e., at time of credit of income to account of payee as well as at time of payment thereof
By [2012] 18 taxmann.com 22 (PUNE - ITAT)

IT : Proviso to section 201(1) is to be applied only to negate possibility of imposition of penalty ... - Direct Tax Laws

Fri, 03 Feb 2012 15:02:22 GMT

IT : Proviso to section 201(1) is to be applied only to negate possibility of imposition of penalty under section 221 and it would not absolve an assessee from being considered as an assessee in default
By [2012] 18 taxmann.com 21 (DELHI)

IT : Where under Portfolio Management Scheme, there was frequent trading of huge quantity of shares ... - Direct Tax Laws

Fri, 03 Feb 2012 14:54:38 GMT

IT : Where under Portfolio Management Scheme, there was frequent trading of huge quantity of shares to maximize profit, profits arising from sale/purchase of shares would be business profit
By [2012] 18 taxmann.com 20 (DELHI - ITAT)

IT : Where revenue get authorisation for searching assessee's premises on 9-11-1995, block assessmen... - Direct Tax Laws

Fri, 03 Feb 2012 11:23:45 GMT

IT : Where revenue get authorisation for searching assessee's premises on 9-11-1995, block assessment order passed on 31-12-1996 i.e., after expiry of period of one year as prescribed by section 158BE, was barred by limitation
By [2012] 18 taxmann.com 26 (KAR.)

IT : For claiming deduction under section 80-IB, audit report in Form 10CCB can be filed before asse... - Direct Tax Laws

Fri, 03 Feb 2012 11:19:54 GMT

IT : For claiming deduction under section 80-IB, audit report in Form 10CCB can be filed before assessment is completed, if same has not been filed along with return of income
By [2012] 18 taxmann.com 25 (MAD.)

IT : In name of rectification, Settlement Commission cannot review its own order - Direct Tax Laws

Fri, 03 Feb 2012 11:06:29 GMT

IT : In name of rectification, Settlement Commission cannot review its own order
By [2012] 18 taxmann.com 19 (MAD.)

IT : Merely because identity of creditor is disclosed burden of assessee to explain money in his han... - Direct Tax Laws

Fri, 03 Feb 2012 11:02:46 GMT

IT : Merely because identity of creditor is disclosed burden of assessee to explain money in his hands would not stand discharged if AO is satisfied that donor has no creditworthiness
By [2012] 18 taxmann.com 18 (JHAR.)

IT/ILT : Transfer Pricing : Transfer pricing provision has not provided for any cut off date up-to w... - Direct Tax Laws

Thu, 02 Feb 2012 19:23:19 GMT

IT/ILT : Transfer Pricing : Transfer pricing provision has not provided for any cut off date up-to which only the information available in public domain has to be taken into consideration by the TPO, while making the transfer pricing adjustments and arriving at arm's length price
By [2012] 18 taxmann.com 32 (BANG. - ITAT)

IT : Where a housing society & developer entered into a development agreement whereunder old buildin... - Direct Tax Laws

Thu, 02 Feb 2012 19:20:17 GMT

IT : Where a housing society & developer entered into a development agreement whereunder old building was demolished and new multi-storeyed building was built, compensation paid to assessee-member in addition to allotment of flat & displacement compensation was a capital receipt
By [2012] 18 taxmann.com 31 (MUM. - ITAT)

IT : AO's power to rectify intimation under section 143(1)(a) in purported exercise of power under s... - Direct Tax Laws

Thu, 02 Feb 2012 19:01:47 GMT

IT : AO's power to rectify intimation under section 143(1)(a) in purported exercise of power under section 154
By [2012] 18 taxmann.com 24 (DELHI - ITAT)

IT : Issue relating to applicability of section 2(22)(e) - Matter remanded to Commissioner for dispo... - Direct Tax Laws

Thu, 02 Feb 2012 18:54:51 GMT

IT : Issue relating to applicability of section 2(22)(e) - Matter remanded to Commissioner for disposal afresh
By [2012] 18 taxmann.com 23 (MAD.)

IT : Decision of Third Member of Tribunal is not a final order as contemplated by section 254(1) and... - Direct Tax Laws

Thu, 02 Feb 2012 18:44:32 GMT

IT : Decision of Third Member of Tribunal is not a final order as contemplated by section 254(1) and, therefore, an application under section 254(2) would not lie against his decision
By [2012] 18 taxmann.com 16 (MUM. - ITAT)(TM)

IT : Where AO while processing return under section 143(1)(a), allowed assessee's claim of deduction... - Direct Tax Laws

Thu, 02 Feb 2012 14:41:42 GMT

IT : Where AO while processing return under section 143(1)(a), allowed assessee's claim of deduction under section 80-IA, reassessment could for disallowing aforesaid claim on ground that income had not been derived from industrial undertaking was justified
By [2012] 18 taxmann.com 12 (DELHI)

IT : Expenditure incurred on public taxis/metered taxis would not come within purview of section 37(... - Direct Tax Laws

Thu, 02 Feb 2012 14:36:31 GMT

IT : Expenditure incurred on public taxis/metered taxis would not come within purview of section 37(3A), read with sub-section (3B) and Explanation thereto
By [2012] 18 taxmann.com 11 (DELHI)

IT : Fumigation charges, disinfestations charges and supervisory charges would be eligible for exemp... - Direct Tax Laws

Thu, 02 Feb 2012 14:26:27 GMT

IT : Fumigation charges, disinfestations charges and supervisory charges would be eligible for exemption under section 10(29)
By [2012] 18 taxmann.com 10 (KAR.)

IT : In case of lack of co-operation on part of assessee, Assessing Officer can drop block assessmen... - Direct Tax Laws

Thu, 02 Feb 2012 14:16:13 GMT

IT : In case of lack of co-operation on part of assessee, Assessing Officer can drop block assessment proceedings and pass an order of best judgment assessment under section 144
By [2012] 18 taxmann.com 5 (PAT.)

IT : Tax paid by employer on salary income of employee is exempt under section 10(10CC) - Direct Tax Laws

Thu, 02 Feb 2012 13:03:10 GMT

IT : Tax paid by employer on salary income of employee is exempt under section 10(10CC)
By [2012] 18 taxmann.com 4 (DELHI - ITAT)

IT : Where assessee failed to prove genuineness of transactions relating to share application money ... - Direct Tax Laws

Thu, 02 Feb 2012 11:03:39 GMT

IT : Where assessee failed to prove genuineness of transactions relating to share application money received by it, amount so received was rightly added to its taxable income as cash credits
By [2012] 18 taxmann.com 9 (DELHI)

IT : In case of share transactions magnitude, frequency and ratio of sales to purchases on total hol... - Direct Tax Laws

Thu, 02 Feb 2012 10:48:59 GMT

IT : In case of share transactions magnitude, frequency and ratio of sales to purchases on total holdings were relevant factors to decide, whether assessee had not purchased shares as an investment, but with intention to trade in such scrips
By [2012] 18 taxmann.com 3 (AP)

IT : Finance charges received in case of lease transactions are not liable to interest tax - Direct Tax Laws

Wed, 01 Feb 2012 18:27:21 GMT

IT : Finance charges received in case of lease transactions are not liable to interest tax
By [2012] 18 taxmann.com 6 (KAR.)

IT : Industrial Park Scheme, 2002 was valid and in operation till 31-3-2006 and not thereafter - Direct Tax Laws

Wed, 01 Feb 2012 18:23:37 GMT

IT : Industrial Park Scheme, 2002 was valid and in operation till 31-3-2006 and not thereafter
By [2012] 18 taxmann.com 14 (DELHI)

IT/ILT : The activities undertaken by the assessee of seismic survey, processing of 3D seismic data ... - Direct Tax Laws

Wed, 01 Feb 2012 18:20:40 GMT

IT/ILT : The activities undertaken by the assessee of seismic survey, processing of 3D seismic data and submission of its report in desired media as also providing services of personnel will clearly fall under the definition of 'fee for technical services' covered in first limb of Explanation 2 to section 9(1)(vii)
By [2012] 18 taxmann.com 13 (DELHI - ITAT)

IT : FBT is payable even if no tax is payable by an employer - Direct Tax Laws

Wed, 01 Feb 2012 18:18:45 GMT

IT : FBT is payable even if no tax is payable by an employer
By [2012] 18 taxmann.com 2 (KOL. - ITAT)

IT : For purpose of computing income under Act, assessee is to adopt mercantile system on basis of w... - Direct Tax Laws

Wed, 01 Feb 2012 18:15:58 GMT

IT : For purpose of computing income under Act, assessee is to adopt mercantile system on basis of which returns are filed under Companies Act, 1956
By [2012] 18 taxmann.com 1 (MAD.)

WT : Where Tribunal relying upon order passed in assessee's own case relating to earlier assessment ... - Direct Tax Laws

Wed, 01 Feb 2012 16:09:50 GMT

WT : Where Tribunal relying upon order passed in assessee's own case relating to earlier assessment years, refused to refer matter to High Court, said order of Tribunal was justified and it did not require any interference
By [2012] 17 taxmann.com 262 (RAJ.)

IT : In case of complete disclosure of facts relating to expenses incurred to earn exempt income, re... - Direct Tax Laws

Wed, 01 Feb 2012 15:40:31 GMT

IT : In case of complete disclosure of facts relating to expenses incurred to earn exempt income, reopening of assessment after expiry of four years was not justified
By [2012] 17 taxmann.com 270 (DELHI)

IT : Revisional order passed on account of incorrect computation of deduction under section 80-IA, m... - Direct Tax Laws

Wed, 01 Feb 2012 15:35:59 GMT

IT : Revisional order passed on account of incorrect computation of deduction under section 80-IA, matter remanded
By [2012] 17 taxmann.com 269 (DELHI)

IT : While computing relief under section 10A, expenditure incurred by assessee has to be excluded f... - Direct Tax Laws

Wed, 01 Feb 2012 15:13:39 GMT

IT : While computing relief under section 10A, expenditure incurred by assessee has to be excluded from its total turnover also, if same is reduced from export turnover
By [2012] 17 taxmann.com 267 (KAR.)

IT : Where assessee, engaged in export of cigarette as well as leather goods, claimed deduction unde... - Direct Tax Laws

Wed, 01 Feb 2012 15:01:12 GMT

IT : Where assessee, engaged in export of cigarette as well as leather goods, claimed deduction under section 80HHC and there was loss in either of two business, said loss had to be taken into account for computing deduction under section 80HHC
By [2012] 17 taxmann.com 266 (MAD.)

IT : Assessee, engaged in manufacture and selling of additives on commission basis not entitled to d... - Direct Tax Laws

Wed, 01 Feb 2012 14:55:13 GMT

IT : Assessee, engaged in manufacture and selling of additives on commission basis not entitled to deduction under section 80-IB in respect of service income and commission
By [2012] 17 taxmann.com 259 (MAD.)

IT : Charitable Institution's application dated 27-12-2010 seeking renewal of approval under section... - Direct Tax Laws

Wed, 01 Feb 2012 14:48:31 GMT

IT : Charitable Institution's application dated 27-12-2010 seeking renewal of approval under section 80G could not be rejected by Director (Exemptions), unless approval was specifically withdrawn
By [2012] 17 taxmann.com 258 (DELHI - ITAT)

IT : Where assessee furnished a performance guarantee to get a contract awarded in its favour and to... - Direct Tax Laws

Wed, 01 Feb 2012 12:28:03 GMT

IT : Where assessee furnished a performance guarantee to get a contract awarded in its favour and to procure said guarantee, it had kept amount in fixed deposit, interest received on said deposit was to be treated as business income against which project expenses could be set off
By [2012] 17 taxmann.com 257 (DELHI)

IT : Deduction of expenses where assessee-company claimed business promotion expenses in respect of ... - Direct Tax Laws

Wed, 01 Feb 2012 11:13:10 GMT

IT : Deduction of expenses where assessee-company claimed business promotion expenses in respect of gifts items distributed by it whereas bills relating to gifts were in name of directors of company
By [2012] 17 taxmann.com 265 (DELHI)

IT : Where Commissioner (Appeals) as well as Tribunal having accepted assessee's explanation regardi... - Direct Tax Laws

Wed, 01 Feb 2012 11:09:40 GMT

IT : Where Commissioner (Appeals) as well as Tribunal having accepted assessee's explanation regarding certain purchases, deleted addition made by Assessing Officer under section 69C, no substantial question of law arose from said order of Tribunal
By [2012] 17 taxmann.com 264 (RAJ.)

IT : While computing relief under section 10A, expenditure incurred by assessee has to be excluded f... - Direct Tax Laws

Wed, 01 Feb 2012 11:07:00 GMT

IT : While computing relief under section 10A, expenditure incurred by assessee has to be excluded from total turnover if same is reduced from export turnover
By [2012] 17 taxmann.com 263 (KAR.)

IT : Assessee-society formed with objects to propagate non-violence and tenets of truth as preached ... - Direct Tax Laws

Wed, 01 Feb 2012 10:57:08 GMT

IT : Assessee-society formed with objects to propagate non-violence and tenets of truth as preached by Tirthankar Bhagwants, was entitled to registration under section 12AA
By [2012] 17 taxmann.com 261 (MAD.)

IT: Additional depreciation : Process carried out by assessee on raw grounded blades purchased from ... - Direct Tax Laws

Wed, 01 Feb 2012 10:46:56 GMT

IT: Additional depreciation : Process carried out by assessee on raw grounded blades purchased from market and made same ready to use in commercial market amounts to manufacture
By [2012] 17 taxmann.com 256 (KOL. - ITAT)

IT : Where though assessee was not selling rubber and plastic goods to others but it was using plast... - Direct Tax Laws

Wed, 01 Feb 2012 10:43:46 GMT

IT : Where though assessee was not selling rubber and plastic goods to others but it was using plastic moulds in its factory, assessee was entitled to depreciation @ 40% on plastic moulds
By [2012] 17 taxmann.com 255 (MUM. - ITAT)

IT : Profit from purchase and sale of shares and mutual funds held by assessee as investment, would ... - Direct Tax Laws

Tue, 31 Jan 2012 19:26:34 GMT

IT : Profit from purchase and sale of shares and mutual funds held by assessee as investment, would be short term capital gain and not business income
By [2012] 17 taxmann.com 271 (MUM. - ITAT)

IT : Tax was to be deducted at source under section 194A where due to losses no interest was paid by... - Direct Tax Laws

Tue, 31 Jan 2012 18:43:29 GMT

IT : Tax was to be deducted at source under section 194A where due to losses no interest was paid by assessee to its creditor but credit entry was made as if interest was paid to creditors
By [2012] 17 taxmann.com 260 (KAR.)

IT : Where assessee's windmills claimed deduction under section 80-IA, profits of windmills to be ca... - Direct Tax Laws

Tue, 31 Jan 2012 18:41:08 GMT

IT : Where assessee's windmills claimed deduction under section 80-IA, profits of windmills to be calculated on basis of price at which Electricity Board supplied electricity to industrial undertaking and not on basis of price at which assessee supplied electricity to Electricity Board
By [2012] 17 taxmann.com 254 (CHENNAI - ITAT)

IT : Where generation of scrap had direct link with manufacturing process carried out by assessee, i... - Direct Tax Laws

Tue, 31 Jan 2012 18:38:57 GMT

IT : Where generation of scrap had direct link with manufacturing process carried out by assessee, income arising from sale of scrap was also eligible for deduction under section 80-IC
By [2012] 17 taxmann.com 253 (PUNJ. & HAR.)

IT : While computing relief under section 10A, expenditure incurred by assessee has to be excluded f... - Direct Tax Laws

Tue, 31 Jan 2012 15:41:29 GMT

IT : Matter remanded where Tribunal allowed deductions under section 80HHC by following decision of ... - Direct Tax Laws

Tue, 31 Jan 2012 15:36:24 GMT

IT : Matter remanded where Tribunal allowed deductions under section 80HHC by following decision of Special Bench which has been overruled
By [2012] 17 taxmann.com 249 (DELHI)

IT : Contributions received by assessee-school from students towards benevolent fund and development... - Direct Tax Laws

Tue, 31 Jan 2012 15:27:59 GMT

IT : Contributions received by assessee-school from students towards benevolent fund and development fund was its income where assessee had not created any benevolent fund account and there was no condition stipulated in alleged donation made by parents that it would be towards corpus donation
By [2012] 17 taxmann.com 243 (DELHI - ITAT)

IT : Where in terms of objects of trust school was run by assessee-trust, Commissioner could not ref... - Direct Tax Laws

Tue, 31 Jan 2012 15:01:36 GMT

IT : Where in terms of objects of trust school was run by assessee-trust, Commissioner could not refuse registration on ground that main purpose of creation of trust was to save and protect property of authors of trust from various enactments such as Urban Land Ceiling Act, Wealth-tax Act, Income-tax Act, etc.
By [2012] 17 taxmann.com 242 (KAR.)

IT : Bar as provided under section 80-IA(3) is to be considered only for first year of claim for ded... - Direct Tax Laws

Tue, 31 Jan 2012 14:58:02 GMT

IT : Bar as provided under section 80-IA(3) is to be considered only for first year of claim for deduction under section 80-IA
By [2012] 17 taxmann.com 241 (DELHI)

IT : While framing block assessment AO is required to issue notice under section 143(2) within stipu... - Direct Tax Laws

Tue, 31 Jan 2012 11:28:47 GMT

IT : While framing block assessment AO is required to issue notice under section 143(2) within stipulated time
By [2012] 17 taxmann.com 248 (INDORE - ITAT)

IT : Where Assessing Officer had allowed claim of exemption of assessee-general insurance company un... - Direct Tax Laws

Tue, 31 Jan 2012 11:25:36 GMT

IT : Where Assessing Officer had allowed claim of exemption of assessee-general insurance company under section 10(15)/(33), reopening of assessment on ground that assessee's profits had to be calculated in accordance with section 44 was not justified
By [2012] 17 taxmann.com 247 (BOM.)

IT: Interest in case of public financial institution, etc., is to be added as income only when it is... - Direct Tax Laws

Tue, 31 Jan 2012 11:12:38 GMT

IT: Interest in case of public financial institution, etc., is to be added as income only when it is credited or actually received
By [2012] 17 taxmann.com 239 (AHD. - ITAT)

IT : Exemption under section 11 available to Assessee-Board, created under Bihar Agricultural Produc... - Direct Tax Laws

Mon, 30 Jan 2012 18:29:41 GMT

IT : Exemption under section 11 available to Assessee-Board, created under Bihar Agricultural Produce Markets Act, 1960, for regulation of buying and selling of agricultural produce
By [2012] 17 taxmann.com 238 (PAT.)

IT : VRS floated by assessee was in conformity with rule 2BA - Direct Tax Laws

Mon, 30 Jan 2012 12:06:42 GMT

IT : VRS floated by assessee was in conformity with rule 2BA
By [2012] 17 taxmann.com 235 (DELHI)

IT : Appeal under section 260A is not maintainable against order passed by Tribunal declining condon... - Direct Tax Laws

Fri, 27 Jan 2012 10:47:37 GMT

IT : Appeal under section 260A is not maintainable against order passed by Tribunal declining condonation of delay
By [2012] 17 taxmann.com 233 (KER.)

IT : While computing book profits, no more deductions or allowances other than what are stated in Ex... - Direct Tax Laws

Fri, 27 Jan 2012 10:43:58 GMT

IT : While computing book profits, no more deductions or allowances other than what are stated in Explanation 1 to section 115JB are permissible
By [2012] 17 taxmann.com 232 (AHD. - ITAT)

IT : Consideration received for surrender of tenancy rights cannot be brought in tax under section 1... - Direct Tax Laws

Wed, 25 Jan 2012 14:02:44 GMT

IT : Consideration received for surrender of tenancy rights cannot be brought in tax under section 10(3)
By [2012] 17 taxmann.com 229 (DELHI)

IT : Various business expenses incurred by assessee could not be disallowed merely because expense v... - Direct Tax Laws

Wed, 25 Jan 2012 13:52:51 GMT

IT : Various business expenses incurred by assessee could not be disallowed merely because expense vouchers were not in name of assessee-company
By [2012] 17 taxmann.com 231 (CHENNAI - ITAT)

IT : Loss arising to assessee on sale of flat in course of its Civil Construction business is allowa... - Direct Tax Laws

Wed, 25 Jan 2012 10:59:32 GMT

IT : Loss arising to assessee on sale of flat in course of its Civil Construction business is allowable
By [2012] 17 taxmann.com 230 (CHENNAI - ITAT)(TM)

IT : Where assessee having entered into a joint venture (JV) for development of a property, contribu... - Direct Tax Laws

Wed, 25 Jan 2012 10:53:59 GMT

IT : Where assessee having entered into a joint venture (JV) for development of a property, contributed a piece of land to be developed by JV, it was not a case of transfer of land under section 2(47)
By [2012] 17 taxmann.com 223 (CHENNAI - ITAT)(TM)

IT : If there is deferment in payment of advance tax, compensatory interest under section 234C becom... - Direct Tax Laws

Tue, 24 Jan 2012 17:54:37 GMT

IT : If there is deferment in payment of advance tax, compensatory interest under section 234C becomes payable and it does not matter if there was good or sufficient reasons for such deferment
By [2012] 17 taxmann.com 222 (DELHI)

IT : Addition to income - Where there was difference between sum mentioned in approved agreement to... - Direct Tax Laws

Tue, 24 Jan 2012 10:52:14 GMT

IT : Addition to income - Where there was difference between sum mentioned in approved agreement to sell a property and sum mentioned in sale deed
By [2012] 17 taxmann.com 210 (KAR.)

IT : Taxability of income derived from letting of software technology park backed with various ameni... - Direct Tax Laws

Tue, 24 Jan 2012 10:48:54 GMT

IT : Taxability of income derived from letting of software technology park backed with various amenities as business income
By [2012] 17 taxmann.com 208 (BANG. - ITAT)

IT : Where AO took a stand that provision for foreign travel expenses could not be allowed, there co... - Direct Tax Laws

Mon, 23 Jan 2012 17:48:40 GMT

IT : Where AO took a stand that provision for foreign travel expenses could not be allowed, there could not be any good reason to allow said claim for deduction on actual basis
By [2012] 17 taxmann.com 207 (MUM. - ITAT)

IT/ILT : Transfer of shares of a foreign company which has an Indian Company as its subsidiary does ... - Direct Tax Laws

Sat, 21 Jan 2012 18:56:01 GMT

IT/ILT : Transfer of shares of a foreign company which has an Indian Company as its subsidiary does not amount to transfer of any capital asset situated in India within meaning of 4th limb of section 9(1)(i)
By [2012] 17 taxmann.com 202 (SC)

IT : Where assessee-oil manufacturer adopted valuation of oil in process at cost plus Rs. 100 for pu... - Direct Tax Laws

Sat, 21 Jan 2012 12:11:19 GMT

IT : Where assessee-oil manufacturer adopted valuation of oil in process at cost plus Rs. 100 for purpose of closing stock value and said hypothetical figure of Rs. 100 did not represent actual manufacturing expenses
By [2012] 17 taxmann.com 199 (PUNJ. & HAR.)

IT : Cash credits : Where assessee failed to prove creditworthiness of person who had made deposit w... - Direct Tax Laws

Sat, 21 Jan 2012 11:59:04 GMT

IT : Cash credits : Where assessee failed to prove creditworthiness of person who had made deposit with it
By [2012] 17 taxmann.com 198 (ALL.)

IT : Validity of transactions of purchase and sale of shares which were carried out through recogniz... - Direct Tax Laws

Sat, 21 Jan 2012 11:51:37 GMT

IT : Validity of transactions of purchase and sale of shares which were carried out through recognized stock brokers at rates prevalent in stock exchange at relevant time
By [2012] 17 taxmann.com 197 (PUNJ. & HAR.)

IT : In case of a discretionary trust in which shares of beneficiaries are ascertained, net income o... - Direct Tax Laws

Sat, 21 Jan 2012 11:43:50 GMT

IT : In case of a discretionary trust in which shares of beneficiaries are ascertained, net income of each beneficiary is to be aggregated and maximum marginal rate has to be applied on it
By [2012] 17 taxmann.com 196 (MAD.)

IT : Rectification proceedings as contemplated under section 154 cannot be converted into assessment... - Direct Tax Laws

Sat, 21 Jan 2012 11:14:51 GMT

IT : Rectification proceedings as contemplated under section 154 cannot be converted into assessment proceedings with a view to making fresh claim, which was not made in return of income filed by assessee
By [2012] 17 taxmann.com 193 (CHD. - ITAT)

IT/ILT : Revision was justified where Assessing Officer had given tax relief to assessee in accordan... - Direct Tax Laws

Fri, 20 Jan 2012 19:50:23 GMT

IT/ILT : Revision was justified where Assessing Officer had given tax relief to assessee in accordance with relevant articles of DTAAs, without giving any indication of nature and extent of entitlement with reference to enabling provisions
By [2012] 17 taxmann.com 203 (KAR.)

IT : Conversion of claim for deduction under section 80-IB(7)(a) to deduction under section 80-IB(7)... - Direct Tax Laws

Fri, 20 Jan 2012 17:47:12 GMT

IT : Conversion of claim for deduction under section 80-IB(7)(a) to deduction under section 80-IB(7)(b)
By [2012] 17 taxmann.com 195 (LUCKNOW - ITAT)

IT : Where Assessing Officer after due examination accepted assessee's contention regarding existenc... - Direct Tax Laws

Fri, 20 Jan 2012 17:44:29 GMT

IT : Where Assessing Officer after due examination accepted assessee's contention regarding existence of AOP, revision was not justified on ground that he had accepted assessee's contention without verifying facts pertaining to entire transaction
By [2012] 17 taxmann.com 194 (CHENNAI - ITAT)

IT : Dry cleaning process is not manufacture - Direct Tax Laws

Fri, 20 Jan 2012 17:40:09 GMT

IT : Dry cleaning process is not manufacture
By [2012] 17 taxmann.com 192 (PUNJ. & HAR.)

IT : Where assessee took loan from a bank for purchasing a estate and started selling it to differen... - Direct Tax Laws

Fri, 20 Jan 2012 17:34:34 GMT

IT : Where assessee took loan from a bank for purchasing a estate and started selling it to different persons immediately after purchase was completed, transaction of purchase and sale of estate represented business activity
By [2012] 17 taxmann.com 191 (COCH. - ITAT)

IT : Approval granted by Development Commissioner for conversion of assessee-company from a Domestic... - Direct Tax Laws

Fri, 20 Jan 2012 15:26:16 GMT

IT : Approval granted by Development Commissioner for conversion of assessee-company from a Domestic Tariff Area to 100% EOU is a valid approval for claiming exemption under section 10B
By [2012] 17 taxmann.com 182 (DELHI)

IT : Expenses incurred on renovation work carried out in a rented premises are allowable under secti... - Direct Tax Laws

Fri, 20 Jan 2012 14:41:43 GMT

IT : Expenses incurred on renovation work carried out in a rented premises are allowable under section 30(a)(i)/section 37(1)
By [2012] 17 taxmann.com 174 (MUM. - ITAT)

IT/ILT : Transfer pricing : Working capital is a factor which influences price in open market and, t... - Direct Tax Laws

Fri, 20 Jan 2012 13:55:07 GMT

IT/ILT : Transfer pricing : Working capital is a factor which influences price in open market and, therefore, requisite adjustment on account of working capital has to be made while determining arm's length operating margin of comparables
By [2012] 17 taxmann.com 190 (PUNE - ITAT)

ST : Prior to introduction of sub-section (3) to section 73, mere payment of service tax and interes... - Service Tax/GST

Sat, 04 Feb 2012 11:38:05 GMT

ST : Prior to introduction of sub-section (3) to section 73, mere payment of service tax and interest prior to issue of show-cause notice by itself was not a ground to waive levy of penalty
By [2012] 18 taxmann.com 43 (KAR.)

ST : Prior to 18-4-2006, no service tax could be demanded for receiving service from foreign service... - Service Tax/GST

Sat, 04 Feb 2012 11:36:42 GMT

ST : Prior to 18-4-2006, no service tax could be demanded for receiving service from foreign service provider
By [2012] 18 taxmann.com 42 (NEW DELHI - CESTAT)

ST : When service tax is levied on municipality, there was no violation of article 289 of constituti... - Service Tax/GST

Sat, 04 Feb 2012 11:33:31 GMT

ST : When service tax is levied on municipality, there was no violation of article 289 of constitution of India
By [2012] 18 taxmann.com 41 (KER.)

ST : Cenvat Credit : Procedural irregularity in not registering units with LTU authorities can be re... - Service Tax/GST

Fri, 03 Feb 2012 18:11:17 GMT

ST : Cenvat Credit : Procedural irregularity in not registering units with LTU authorities can be rectified to extend benefit of LTU scheme
By [2012] 18 taxmann.com 35 (BOM.)

ST : Where service recipient who was paying service tax on behalf of assessee, service provider, st... - Service Tax/GST

Fri, 03 Feb 2012 17:34:46 GMT

ST : Where service recipient who was paying service tax on behalf of assessee, service provider, stopped paying service tax and on being informed of same, assessee paid service tax along with interest, no penalty could be imposed on assessee
By [2012] 18 taxmann.com 39 (NEW DELHI - CESTAT)

ST : Where there was nothing in SCN to indicate that receipts of assessee were in relation to any of... - Service Tax/GST

Fri, 03 Feb 2012 11:26:13 GMT

ST : Where there was nothing in SCN to indicate that receipts of assessee were in relation to any of functions envisaged by law to be performed using immovable property, demand raised under 'Mandap keeper's service' was not sustainable
By [2012] 18 taxmann.com 27 (NEW DELHI - CESTAT)

ST : Activity of transportation of coal from one place within mining area to another place and unloa... - Service Tax/GST

Thu, 02 Feb 2012 18:49:25 GMT

ST : Activity of transportation of coal from one place within mining area to another place and unload it there would be covered under 'Cargo handling service'
By [2012] 18 taxmann.com 17 (MUM. - CESTAT)

ST : Where it was found that two corrigendums were issued to assessee calling upon and asking why pe... - Service Tax/GST

Thu, 02 Feb 2012 10:55:09 GMT

ST : Where it was found that two corrigendums were issued to assessee calling upon and asking why penalty under section 78 should not be imposed, Tribunal was not justified in setting aside penalty under section 78 on ground that there was no proposition in show-cause notice for penalty under section 78
By [2012] 18 taxmann.com 7 (DELHI)

ST : Explanation inserted into clauses (zzq) and (zzzh) of section 65(105) of Finance Act, 1994, lev... - Service Tax/GST

Tue, 31 Jan 2012 19:26:49 GMT

ST : Explanation inserted into clauses (zzq) and (zzzh) of section 65(105) of Finance Act, 1994, levying service tax on value addition provided by builders to buyers in course of construction & construction related activities, are constitutionally valid
By [2012] 17 taxmann.com 272 (BOM.)

ST : Section 66A of Finance Act, 1994 and Taxation of Services (Provided from Outside India) Rules, ... - Service Tax/GST

Mon, 30 Jan 2012 17:17:50 GMT

ST : Section 66A of Finance Act, 1994 and Taxation of Services (Provided from Outside India) Rules, 2006 are constitutionally valid
By [2012] 17 taxmann.com 251 (ALL.)

ST : Where assessee provided service to its client, not on behalf of said client, service tax could ... - Service Tax/GST

Fri, 27 Jan 2012 14:03:55 GMT

ST : Where assessee provided service to its client, not on behalf of said client, service tax could not be demanded from assessee under category of business auxiliary service
By [2012] 17 taxmann.com 234 (NEW DELHI - CESTAT)

ST : Prior to 18-4-2006, a recipient of service from foreign service provider is not liable to servi... - Service Tax/GST

Wed, 25 Jan 2012 11:04:03 GMT

ST : Prior to 18-4-2006, a recipient of service from foreign service provider is not liable to service tax
By [2012] 17 taxmann.com 228 (NEW DELHI - CESTAT)

ST : Service-tax paid to commission agents for sales promotion is admissible as Cenvat credit - Service Tax/GST

Tue, 24 Jan 2012 17:59:10 GMT

ST : Service-tax paid to commission agents for sales promotion is admissible as Cenvat credit
By [2012] 17 taxmann.com 227 (AHD. - CESTAT)

ST : Refund of service tax paid by service recipient pursuant to amalgamation of service recipient a... - Service Tax/GST

Tue, 24 Jan 2012 17:57:34 GMT

ST : Refund of service tax paid by service recipient pursuant to amalgamation of service recipient and service provider
By [2012] 17 taxmann.com 226 (CHENNAI - CESTAT)

ST : Hiring out payloaders for loading of coal into wagons at railway sidings, would be covered und... - Service Tax/GST

Tue, 24 Jan 2012 17:47:32 GMT

ST : Hiring out payloaders for loading of coal into wagons at railway sidings, would be covered under, 'Cargo handling service'
By [2012] 17 taxmann.com 221 (NEW DELHI - CESTAT)

ST : Sales tax exemption or deferment or composite schemes of Gujarat Government - An exemption is a... - Service Tax/GST

Fri, 20 Jan 2012 19:39:46 GMT

ST : Sales tax exemption or deferment or composite schemes of Gujarat Government - An exemption is a stand alone process; either an industry claiming exemption comes within it or it does not
By [2012] 17 taxmann.com 204 (SC)

ST : A refund claim beyond statutory time limit cannot be granted - Service Tax/GST

Fri, 20 Jan 2012 19:37:56 GMT

ST : A refund claim beyond statutory time limit cannot be granted
By [2012] 17 taxmann.com 201 (KAR.)

ST : Availment of Cenvat credit on service tax paid on construction services for constructing a coal... - Service Tax/GST

Fri, 20 Jan 2012 15:29:31 GMT

ST : Availment of Cenvat credit on service tax paid on construction services for constructing a coal shed in its factory by a manufacturer of iron
By [2012] 17 taxmann.com 183 (NEW DELHI - CESTAT)

ST: A recipient of service in India from outside India is liable to service-tax only with effect fro... - Service Tax/GST

Fri, 20 Jan 2012 14:45:13 GMT

ST: A recipient of service in India from outside India is liable to service-tax only with effect from 18-4-2006
By [2012] 17 taxmann.com 181 (AHD. - CESTAT)

ST : Cenvat credit of service tax paid on GTA service received by a manufacturer - Service Tax/GST

Fri, 20 Jan 2012 11:08:56 GMT

ST : Cenvat credit of service tax paid on GTA service received by a manufacturer
By [2012] 17 taxmann.com 180 (MUM. - CESTAT)

ST : Claim for refund of accumulated credit in respect of Cenvat credit of service tax paid on erect... - Service Tax/GST

Fri, 20 Jan 2012 11:06:42 GMT

ST : Claim for refund of accumulated credit in respect of Cenvat credit of service tax paid on erection, installation and commissioning service used for erection, installation and commissioning of power plant - Cenvat credit of service tax paid on input service used in installation of power plant
By [2012] 17 taxmann.com 179 (NEW DELHI - CESTAT)

ST : Instances relating to waiver of pre-deposit requirement - Service Tax/GST

Fri, 20 Jan 2012 11:04:39 GMT

ST : Instances relating to waiver of pre-deposit requirement
By [2012] 17 taxmann.com 178 (BANG. - CESTAT)

ST : Cenvat credit of service tax paid on outward transportation of finished goods from place of rem... - Service Tax/GST

Fri, 20 Jan 2012 11:01:35 GMT

ST : Cenvat credit of service tax paid on outward transportation of finished goods from place of removal is available
By [2012] 17 taxmann.com 177 (CHENNAI - CESTAT)