Direct Tax Laws |
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| SC/HC |
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 | Commissioner of Income-tax vs. SPR Group Holdings (P.) Ltd. [2013] 33 taxmann.com 270 (Karnataka)
Appeal by revenue wasn’t maintainable if assessee had produced certificate under Kar Vivad Samadhan Scheme -IT : Where revenue against order of Commissioner (Appeals) filed appeal before Tribunal and assessee during course of hearing of appeal filed before Tribunal a certificate issued by Commissioner under Kar Vivad Samadhan Scheme, 1988 showing that tax due had been fully paid by assessee, impugned appeal was not maintainable Read More |
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| O.G. Sunil vs. Deputy Commissioner of Income-tax, Central Circle-2, Ernakulam [2013] 33 taxmann.com 195 (Kerala)
Order without opportunity of personal hearing isn’t valid even if assessee is allowed to file written submission -IT : Order passed without giving an opportunity of being heard to assessee is invalid irrespective of the fact that assessee was given an opportunity of filing written submissions Read More |
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| Commissioner of Income-tax, Mangalore vs. Dr. K.P. Viswanath Prabhu [2013] 33 taxmann.com 152 (Karnataka)
Investments out of receipts to be disclosed in return due to be filed couldn’t be an undisclosed income -IT : Where last date for filing of return wherein professional receipts earned by assessee could be shown had not expired, fixed deposits and Kisan Vikas Patras (KVPS) acquired out of such receipts could not be regarded as undisclosed income in course of block assessment proceedings Read More |
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| Commissioner of Income-tax vs. Weizmann Homes Ltd. [2013] 33 taxmann.com 171 (Karnataka)
‘Processing fees’ and ‘penal interest’ received by financial corp. are eligible for sec. 36(1)(viii) deduction -IT : Where assessee, engaged in providing long-term finance, received certain amount as processing fee and penal interest for repayment of loan before agreed period, those charges being incidental to earning of interest income, were to be included in income eligible for deduction under section 36(1)(viii) Read More |
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| Gouli Mahadevappa vs. Income-tax Officer, Ward 2, Hospeth [2013] 33 taxmann.com 47 (Karnataka)
Sec. 54F benefit allowable for sum invested from other sources and actual consideration if sec. 50C is applicable -IT : Where capital gain is assessed on notional basis under section 50C, whatever amount is invested in new residential house within prescribed period under section 54F, entire amount so invested would get benefit of deduction irrespective of fact that funds from other sources are also utilized for new residential house Read More |
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| Avadh Transformers (P.) Ltd. vs. Union of India [2013] 33 taxmann.com 146 (Allahabad)
No reassessment could be initiated after 4 years merely on basis of retro amendment to law -IT : Where there was no failure on part of assessee to disclose all material facts necessary for assessment, reassessment proceedings could not be initiated after expiry of four years from relevant assessment year merely on ground that in view of retrospective amendment to provisions of section 80-IA, assessee was not entitled to deduction granted under said section earlier Read More |
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| Commissioner of Income-tax-7 vs. Renato Finance & Investment Ltd. [2013] 33 taxmann.com 262 (Bombay)
Gain on sale of shares is subject to capital gain only if these shares aren’t tradable like other trading assets -IT : Where assessee-company purchased shares of a private limited company from funds received from its holding company and after some time it had sold said shares to its holding company, profit arising from sale of shares had to be taxed under head capital gains Read More |
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| Commissioner of Income-tax vs. Aggarwal Tubes (P.) Ltd. [2013] 33 taxmann.com 143 (Allahabad)
Activity of galvanization of MS pipes isn't manufacture to claim sec. 80-I benefit -IT : Business of galvanizing MS pipes does not amount to manufacture and thus, is not entitled for benefits of section 80-I Read More |
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| Commissioner of Income-tax vs. Artos Breweries Ltd. [2013] 33 taxmann.com 144 (Andhra Pradesh)
Payment of royalty to get exclusive manufacturing rights is allowable as revenue exp. -IT : Where payment of royalty was in nature of expenditure incurred for carrying on business with available know-how, same was allowable as revenue expenditure Read More |
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| Commissioner of Income-tax , Central-I, Chennai vs. Smt. Sakuntala Devi Khetan [2013] 33 taxmann.com 98 (Madras)
AO is bound by stock valuation as accepted by sales tax authorities; and can’t reassess on third party’s info -IT : Unless and until competent authority under Sales Tax Act differs or varies with closing stock of assessee, return accepted by said authority is binding on Income-tax authorities and Assessing Officer, in such a case, has no power to scrutinize return submitted by assessee Read More |
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| Commissioner of Income-tax-IV vs. Sambhav Media Ltd. [2013] 33 taxmann.com 97 (Gujarat)
Concealment penalty can’t be imposed if divergent views exist on disallowance of an exp. -IT : Where disallowance of bad debt was due to difference of opinion, no penalty under section 271(1)(c) could be imposed on that account Read More |
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| Commissioner of Income-tax, Chandigarh vs. Punjab Agro Industries Corpn. Ltd. [2013] 33 taxmann.com 106 (Punjab & Haryana)
Disallowances omitted by AO inadvertently during final calculation is rectifiable under sec. 154 -IT : Where certain disallowance made by Assessing Officer by detailed discussion was left from final calculation, such mistake could be corrected under section 154 Read More |
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| Kantilal Sakarlal Gandhi vs. Income-tax Officer, Ward 1 (2) [2013] 33 taxmann.com 141 (Gujarat)
Director of private co. can be held liable for its outstanding taxes only and not for interest or penalty -IT : Director of a company is jointly and severally liable for tax dues of company but not for interest and penalty due Read More |
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| RPG Cellular Investment & Holdings (P.) Ltd. vs. Assistant Commissioner of Income-tax [2013] 33 taxmann.com 128 (Delhi)
Investee Co. and not Investor Co. is required to obtain Central Government’s approval for sec. 10(23G) benefit -IT : Under section 10(23G) it is investee company which is required to obtain approval as per law Read More |
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| Director of Income-tax ( International Taxation) vs. Ballast Nedam International [2013] 33 taxmann.com 139 (Gujarat)
Retention money withheld for satisfactory execution of a contract can't be stamped as income of assessee -IT : Where assessee was awarded a contract and in terms of contract certain amount was withheld by contractee towards retention money for satisfactory execution of contract by assessee, retention money did not represent assessee's accrued income Read More |
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| Hastalloy India Ltd vs. Deputy Commissioner of Income-tax [2013] 33 taxmann.com 121 (Andhra Pradesh)
HC confirms sec. 69 additions for undisclosed income unearthed as FDRs in name of employees -IT : Where Assessing Officer, finding FDRs in names of assessee's employees to be bogus, made addition in hands of assessee under section 69, Tribunal could not delete said addition without giving any reason Read More |
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| Director of Income-tax-I vs. Deutsche Bank AG [2013] 33 taxmann.com 109 (Bombay)
HC allowed claim of NR-banking Co. for HO expenses in view of pre-amended sec. 44C as on 28-6-1984 -IT/ILT : Where assessee, a non-resident foreign bank, during assessment year 1994-95 claimed deduction in respect of head office expenses, in view of DTAA between India and Germany section 44C as applicable would be one existing as on 28-6-1984 and not as existing during subject assessment year 1994-95 Read More |
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| Commissioner of Income-tax,Delhi-IV vs. Hughes Communication India Ltd. [2013] 33 taxmann.com 95 (Delhi)
Discrepancy in inventory valuation allowed as deduction as assessee was following same method consistently -IT : Diminution in valuation of closing stock on account of impairment and defect is allowable, if same method of valuation is consistently followed Read More |
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| Commissioner of Income-tax vs. Mukesh & Kishor Barot Co-owners [2013] 33 taxmann.com 87 (Gujarat)
Deeming provisions of sec. 50C not applicable to transfer of stock-in-trade -IT : Where transferred asset was held as stock in trade, section 50C would not apply Read More |
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| Commissioner of Income-tax - IV vs. Shree Ram Construction [2013] 33 taxmann.com 127 (Gujarat)
Developer entitled to sec. 80-IB relief for construction of housing project even if on behalf of someone else -IT : Where assessee claimed deduction under section 80-IB(10) on development of a housing project, it was entitled to get deduction though it did not own land Read More |
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| GE India Technology Centre (P.) Ltd vs. Deputy Commissioner of Income-tax, Circle -11(3) [2013] 33 taxmann.com 85 (Karnataka)
On both parties appeal, Karnataka HC set aside ITAT’s order remanding matter to AO, and restored matter to ITAT -IT : Where Tribunal, on second appeal filed by assessee, remanded matter to Assessing Officer for re-examination and both parties submitted before High Court that order of Tribunal should be set aside and matter be remanded to it for examination on merits, order of Tribunal was set aside and matter was remanded to it for examination on merits Read More |
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| Commissioner of Income-tax, Rohtak vs. Jagtar Singh Chawla [2013] 33 taxmann.com 38 (Punjab & Haryana)
Capital gain invested within extended period for filing of return is also eligible for Sec. 54F deductions -IT : Where assessee paid substantial amount of sale consideration of a residential house for purchase of another residential property within extended period of limitation of filing of return under section 139, his claim for deduction under section 54F was to be allowed Read More |
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| Commissioner of Income-tax vs. Dr. A.K. Bansal (Individual) [2013] 33 taxmann.com 94 (Allahabad)
AO or Appellate Authority can’t ask for verification of authorization warrant issued for search -IT: Assessing Officer or Tribunal, in appeal, cannot summon and examine warrant of authorization for purpose of examining whether there existed reasons to believe on materials before competent authority to order search under section 132(1) Read More |
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| Commissioner of Income-tax, Kolkata - XI vs. Crescent Export Syndicate [2013] 33 taxmann.com 250 (Kolkata)
‘Ambiguous language in Bill can't be compared with Act rectifying it; SB ruling in Merilyn Shipping's case not acceptable’ -IT : The provisions of section 40(a)(ia), 1961, are applicable not only to the amount which is shown as payable on the date of balance-sheet, but it is applicable to such expenditure, which become payable at any time during the relevant previous year and was actually paid within the previous year. Read More |
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| Vodafone West Ltd. vs. Assistant Commissioner of Income-tax [2013] 33 taxmann.com 67 (Gujarat)
Reassessment on mere retro amendment to any provision isn't valid unless material facts have been withheld -IT : Retrospective amendment to any provision cannot be a ground for making reassessment Read More |
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| Karnataka State Industrial Investment Development Corpn. Ltd. vs. Commissioner of Income-tax [2013] 33 taxmann.com 93 (Karnataka)
In mortgaged property dues of State owned financial corporations prioritized over the Income-tax dues -IT : Dues of State owned Financial Corporation on basis of mortgage will have primacy over realization of dues under Income-tax Act Read More |
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| Commissioner of Income-tax vs. Viniyas Finance & Investment (P.) Ltd. [2013] 33 taxmann.com 86 (Delhi)
Reassessment to tax so called accommodation entries not justified if reasons didn’t purport assessee’s failure to disclose -IT : Where notice under section 148 was issued beyond period of four years and reasons recorded for reopening assessment were that assessee had received sum from certain companies, which were in nature of accommodation entries Read More |
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| Padmini M Nair vs. Union of India [2013] 33 taxmann.com 84 (Gujarat)
Sec. 158BD notice to wife solely on basis of her husband’s block assessment concluded thereafter was invalid -IT : Where noting was made in block assessment order of assessee's husband on whom search was conducted and notice was issued to wife under section 158BD prior to such block assessment, said noting could not be treated as recording of satisfaction in case of wife Read More |
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| Smt. Rekha KrishnaRaj vs. Income-tax Officer, Ward-I, Hospet [2013] 33 taxmann.com 64 (Karnataka)
Provisions of sec. 68 aren’t restricted to cash credit only; it covers unexplained credit as well -IT : Addition under section 68 can be made even for an unexplained credit amount on account of supply of goods, and not necessarily only for a cash credit Read More |
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| Commissioner of Income-tax vs. India Telephone Industries Ltd. [2013] 33 taxmann.com 63 (Karnataka)
Aid received by assessee for undergoing research in a field of national importance is a capital receipt -IT : Grant-in-aid received for research in field of telecommunications, which in turn would benefit nation and public at large is capital receipt Read More |
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| Jay Builder vs. Assistant Commissioner of Income-tax, Circle 6 (2) [2013] 33 taxmann.com 62 (Gujarat)
Assessee couldn’t challenge an order of ITAT that was pronounced on the basis of his sole contention -IT: Where assessee received on money while selling properties and Tribunal substantially accepting contention of assessee that not entire on money received but only profit element could be taxed in its hands and sustained addition at rate of 15 per cent of on money received by assessee, appeal by assessee against order of Tribunal did not survive Read More |
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| A. Shihabudeen vs. Commissioner of Income-tax, Kottayam [2013] 33 taxmann.com 56 (Kerala)
Rectification request under sec. 254 could be made if ITAT hadn’t considered the records placed before it -IT : Assessee should move for rectification under section 254(2) where Tribunal had not considered records produced by assessee Read More |
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| KDH Properties (P.) Ltd. vs. Assistant Commissioner of Income-tax, Co. Circle-II(4), Chennai [2013] 33 taxmann.com 54 (Madras)
If attachment of one property is enough to recover assessee’s tax liability, other assets to be released -IT : Where property, which is subject matter of provisional attachment, is sufficient to satisfy tax liability and safeguard interest of revenue, petitioner can seek release of provisional attachment in respect of other properties and amounts due from debtors and depositors Read More |
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| Avadh Transformers (P.) Ltd. vs. Union of India [2013] 33 taxmann.com 24 (Allahabad)
Reassessment in view of retrospective amendment not justified -IT : In view of retrospective amendment, initiation of reassessment to disallow section 80-IA deduction to assessee was not justified Read More |
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| Commissioner of Income-tax -II vs. Sherno Ltd. [2013] 33 taxmann.com 45 (Gujarat)
Revenue’s appeal to HC won’t be maintainable which was filed ignoring Instruction No 3/2011 directives -IT : Where tax effect involved in appeal filed by revenue was below monetary limit prescribed by Board in Instruction No. 3/2011, dated 9-2-2011, impugned appeal was not maintainable Read More |
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| Yoginder Kumar Sud vs. President Income Tax Appellate Tribunal [2013] 33 taxmann.com 193 (Punjab & Haryana)
Writ to restrain ITAT from discharging statutory functions dismissed as appellant didn't prove his allegation -IT : A representative appearing before ITAT had no right to claim mandamus for restraining an authority constituted under Act (i.e., Members of ITAT) from discharging functions entrusted to them by statute Read More |
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| Whiteline Chemicals vs. Income-tax Officer [2013] 33 taxmann.com 37 (Gujarat)
CIT (A) proceedings shall be restricted to only matters referred to him by the Tribunal -IT : Where Tribunal remanded proceedings to Commissioner (Appeals) to consider question of taxing after verifying that whether sales-tax was retained by assessee or deposited with Government, it was not open for Commissioner (Appeals) to examine entire nature of payment Read More |
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| S.K. Jain vs. Commissioner of Income-tax XI, New Delhi [2013] 33 taxmann.com 36 (Delhi)
Interest at 12% is payable on seized cash from completion of assessment till its actual release -IT: Interest on seized cash is payable at rate of 12 per cent for period commencing from date of completion of assessment till date of actual release of seized assets Read More |
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| Commissioner of Income-tax -IV vs. Sikandarkhan N Tunvar [2013] 33 taxmann.com 133 (Gujarat)
Merilyn Shipping's case - Gujarat HC rejects interpretation made by ITAT Special Bench -IT : Section 40(a) (ia) would cover not only to the amounts which are payable as on 31st March of a particular year but also which are payable at any time during the year. The term used is interest, commission, brokerage etc. is payable to a resident or amounts payable to a contractor or sub-contractor for carrying out any work. The language used is not that such amount must continue to remain payable till the end of the accounting year. Any such interpretation would require reading words which Read More |
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| Commissioner of Income-tax - I vs. Cheil Communications India (P.) Ltd. [2013] 33 taxmann.com 170 (Delhi)
Reassessment not justified if assessee hasn’t computed the ALP of transactions reported in Form 3CEB -IT/ILT : Form 3CEB filed by assessee showing international transactions with AEs is no reason at all for reopening the assessment when there is no allegation that the Arm's Length Price determined by the assessee is not correct Read More |
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| Commissioner of Income-tax - IV vs. Stratex Net Works (India) (P.) Ltd. [2013] 33 taxmann.com 168 (Delhi)
Independent contracts with Indian clients of AEs aren’t deemed as international transactions -IT/ILT : As the installation/commissioning and maintenance agreements undertaken by assessee on the products supplied by its AE were independent agreements unconnected with the international transactions of warranty support services and the transaction which generated the commission income, the transactions pertaining to the installation/commissioning and maintenance services were not international transactions as contemplated under section 92B(1). They were also not deemed international transac Read More |
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| Commissioner of Income-tax, Kolkata -XVIII vs. Md. Jakir Hossain Mondal [2013] 33 taxmann.com 123 (Calcutta)
Kolkata HC rejects Special Bench’s ruling in Merilyn Shipping’s case on sec. 40(a)(ia) disallowance -IT : Disallowance under section 40(a)(ia) would apply even to payments made during the previous year without deducting TDS. Applicability of section 40(a)(ia) not limited to amounts outstanding as of 31st March of the previous year on which TDS was not deducted Read More |
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| Commissioner of Income-tax-I vs. UTI Bank Ltd. [2013] 32 taxmann.com 370 (Gujarat)
No sec. 14A disallowance if assessee had sufficient interest free funds to meet its tax free investments -IT : If there are sufficient interest free funds to meet tax free investments, they are presumed to be made from interest free funds and not loaned funds and no disallowance can be made under section 14A Read More |
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| Commissioner of Income-tax, Ahmedabad - III vs. R L Kalthia Enggineering & Automobiles (P.) Ltd. [2013] 33 taxmann.com 14 (Gujarat)
No disallowance under sec. 14A when sufficient interest free funds were available to divert it to sister concern -IT: Where Assessing Officer had disallowed interest paid on borrowed fund on ground that assessee had diverted interest bearing funds for purpose of investment in shares and loans to sister concern, since sufficient interest free funds were available with assessee, disallowance of interest expenditure was not permissible Read More |
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| Commissioner of Income-tax-IV vs. Shree Rama Multi Tech Ltd. [2013] 33 taxmann.com 13 (Gujarat)
Trend analysis depicting steep increase in current year’s exp. can’t be a ground to disallow such excess exp. -IT : Increase in commission expenses as compared to earlier year was no ground to disallow these expenses Read More |
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| Amarjothi Granites (India) (P.) Ltd vs. Assistant Commissioner of Income-tax, Circle-2, Udaipur [2013] 33 taxmann.com 228 (Jodhpur - Trib.)
Mere rejection of books of account doesn't mean compulsorily additions to returned income -IT : Section 145 by itself does not deal with addition or deletion in income and, thus, merely because there is some deficiency in books of account or merely because there is rejection of books of account, it does not mean that it must necessarily lead to additions in returned income of assessee Read More |
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| Navlakha Translines vs. Income-tax Officer, Ward 3(2) [2013] 33 taxmann.com 188 (Pune - Trib.)
Explanation 3 to sec. 43(1) isn't applicable if transaction to buy asset is genuine and not among related persons -IT : Where seller of wind mills was not related to assessee and purchase price shown by assessee in relation to such wind mills was genuine, Explanation 3 to section 43(1) could not be invoked Read More |
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| SC Enviro Agro India (P.) Ltd. vs. Deputy Commissioner of Income-tax [2013] 33 taxmann.com 261 (Mumbai - Trib.)
Royalty paid to AEs couldn’t be disallowed if assessee was not acting as its contract manufacturer -IT/ILT : Payment of royalty to associated enterprise for use of technical know-how for manufacturing goods on own account by assessee cannot be disallowed taking arm's length price as nil Read More |
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| Income-tax Officer, Ward 36(2), New Delhi vs. Mittal Investment & Co. [2013] 33 taxmann.com 52 (Delhi - Trib.)
No TDS under sec. 194H on brokerage paid by an agent to sub-brokers for dealing in securities or mutual funds -IT: Sub-brokerage paid by an agent to sub-agents for services rendered in connection with securities/mutual funds, is outside purview of section 194H Read More |
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| Datamatics Technologies Ltd. vs. Deputy Commissioner of Income-tax, Circle- 8 (1) [2013] 33 taxmann.com 162 (Mumbai - Trib.)
Total turnover to include turnover of eligible unit and not turnover of all units for sec. 80HHE deductions -IT : For computing deduction under section 80HHE, total turnover constitutes turnover of eligible unit only Read More |
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| Income-tax Officer, Ward-BMR, Barmer vs. Smt. Pushpa Devi Vadera [2013] 33 taxmann.com 209 (Jodhpur - Trib.)
ITAT quashed additions for cash credit as assessee proved identity and creditworthiness of her creditors -IT : Where assessee proved identity of creditors, their creditworthiness and genuineness of transaction, addition on account of cash credit was rightly deleted Read More |
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| Merrill Lynch Capital Markets Espana SA vs. Deputy Director of Income-tax (International Taxation)-4(1), Mumbai [2013] 33 taxmann.com 183 (Mumbai - Trib.)
Profit accruing to FIIs from hedging against forex fluctuation is taxable as capital gain -IT/ILT: Where assessee-company, a resident of Spain and registered as FII with SEBI, earned profit on account of its transaction with foreign exchange, such profit/loss had to be considered as income from capital gains Read More |
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| Radhika Seva Sansthan vs. Commissioner of Income-tax [2013] 33 taxmann.com 225 (Jaipur - Trib.)
Registration of a trust was not to be denied as it was not covered in prohibition list of Sec. 13 -IT : Where trust deed of assessee-trust did not contain a provision that it was established for benefit of any particular religious community as prohibited under section 13(1)(b), its application seeking registration under section 12AA was to be allowed Read More |
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| Income-tax Officer, Ward - 41(2), Kolkata vs. Ram Krishna Ghosh [2013] 33 taxmann.com 145 (Kolkata - Trib.)
Actual date of purchase of shares and not its date of dematerialization is relevant to reckon period of holding -IT : Merely because shares purchased by assessee were transferred to his demat account on a later date, date of transfer to demat account could not be taken as date of purchase Read More |
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| Assistant Commissioner of Income-tax-8(1) vs. DHL Danzas Lemuir (P.) Ltd. [2013] 33 taxmann.com 132 (Mumbai - Trib.)
International transactions are at ALP if sharing of profits in equal ratio by assessee with its AE is justified -IT/ILT : Where assessee, a logistics service provider, undertook international transactions with its AEs and it had earned/paid revenue from /to its AEs in same proportion, transactions had been recorded at arm's length price and there was no justification for making adjustment in ALP worked out by assessee Read More |
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| Dystar India (P.) Ltd. vs. Deputy Commissioner of Income-tax -8(1) [2013] 33 taxmann.com 114 (Mumbai - Trib.)
Sum paid to the other party to the agreement even on its refusal to honour the agreement is not an allowable exp. -IT : Where second party, by its own, terminated processing agreement with assessee without giving timely notice to assessee to arrange alternate processor, payment made by assessee to said party for taking some time could not be said as business expenditure Read More |
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| Jindal Iron & Steel Company Ltd. vs. Deputy Commissioner of Income-tax, Range-5(2) [2013] 33 taxmann.com 96 (Mumbai - Trib.)
Since investment in ICDs was part of business, loss therefrom was held as business loss by ITAT -IT : Where investment in inter-corporate deposits (ICDs) were part of business activities as interest accrued therefrom had been treated as business income, loss arising on such investment was allowable as business loss Read More |
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| Mahatma Gandhi Charitable Society vs. Commissioner of Income-tax, Thiruvananthapuram [2013] 33 taxmann.com 142 (Cochin - Trib.)
Amendment to sec. 2(15) fixing monetary limit authorises AO to deny exemption and not to revoke registration -IT : Amendment to section 2(15) by introducing Proviso fixing monetary limit in respect of public utility services cannot be a reason to cancel registration in exercise of power under section 12AA(3) Read More |
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| Deputy Commissioner of Income-tax, Circle -12(4) vs. Printers (Mysore) (P.) Ltd. [2013] 33 taxmann.com 140 (Bangalore - Trib.)
Exp. on replacement of machinery part isn't a revenue exp. if it brings an advantage of an enduring nature -IT: Where assessee was engaged in business of printing and it incurred a sum of Rs. 173.44 lakhs for repairs, renovation, restoration and replacement of major parts of a particular machine and replacement resulted in a new or fresh advantage, said expenditure was neither allowable under section 31(1) nor under section 37(1) Read More |
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| BNP Paribas SA vs. Deputy Commissioner of Income-tax [2013] 33 taxmann.com 83 (Mumbai - Trib.)
NR couldn’t take shelter of Non-discriminatory clause to bypass conditions for a resident for claiming deduction -IT/ILT : In case of claim of deduction under section 80M, benefit of non-discriminate clause of DTAA is available to foreign national under similar circumstances and, therefore, conditions which are required to be fulfilled by Indian national are also required to be fulfilled by foreign national in order to claim said deduction Read More |
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| Deputy Director of Income-tax (International Taxation) - 1(2), Mumbai vs. Development Bank of Singapore [2013] 33 taxmann.com 300 (Mumbai - Trib.)
Tolerable variation between ALP and actual price allowable even if one price is determined by Most Appropriate Method -IT/ILT : Option of transaction price as deemed ALP under second proviso to section 92C(2) shall apply not only to a situation where more than one ALP is determined by ALP but also where only one price is determined as ALP Read More |
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| Income-tax Officer vs. ABS Industrial Verification India (P.) Ltd. [2013] 33 taxmann.com 131 (Mumbai - Trib.)
ITAT discourages double-dipping by AO; quashes disallowance under two provisions - Sec. 40(a)(ia) and sec. 37(1) -IT/ILT : Payment of fees to foreign group company, disallowed under section 40(a)(ia) for failure to comply with TDS provision, cannot again be disallowed under section 37(1) for non-furnishing of details or under section 41(1) for being shown as a credit in books Read More |
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| Cabot India Ltd. vs. Deputy Commissioner of Income-tax, 1(1), Mumbai [2013] 33 taxmann.com 110 (Mumbai - Trib.)
CUP is suitable method when twin conditions of comparability and uncontrolled transactions are satisfied -IT/ILT : CUP is suitable method when twin conditions of comparability and uncontrolled transactions are satisfied Read More |
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| Assistant Commissioner of Income-tax, Co. Circle IV(3), Chennai vs. MIL Industries Ltd. [2013] 33 taxmann.com 120 (Chennai - Trib.)
Guideline value to be opted for sec. 50C if DVO's valuation report isn't available at assessment stage -IT: Where sale consideration stated by assessee was lower than guideline value and valuation report of DVO was not available at time of assessment, Assessing Officer rightly adopted guideline value Read More |
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| Sojitz India (P.) Ltd. vs. Deputy Commissioner of Income-tax, Circle - 9(1) [2013] 33 taxmann.com 299 (Delhi - Trib.)
Margins of trading segment can’t be applied to indenting segment; no re-characterisation unless facts justify -IT : TPO cannot re-characterize assessee's indenting (service ) activity as trading activity unless it can be demonstrated by facts on record that the assessee though calling itself a "service provider" was actually acting as a "trader". Absent facts justifying such re-characterization, there was no justification for TPO to apply trading margins to assessee's indenting activity under TNMM Read More |
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| Raja Fertilizers vs. Income-tax Officer, Ward IV (1), Tiruchirapali [2013] 33 taxmann.com 46 (Chennai - Trib.)
Capital gain from sale of property held in name of partner in all phases will be taxable in his hands only -IT: Where registered deed showed that property was purchased, held and sold by a partner of assessee-firm as sole owner of property, capital gains arising thereof could not be taxed in hands of firm Read More |
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| Deputy Commissioner of Income-tax, Circle-1(2), Pune vs. Haworth (India) (P.) Ltd. [2013] 33 taxmann.com 111 (Pune - Trib.)
Sale on behalf of AE couldn’t be treated as sale by assessee if it wasn’t routed through its books -IT/ILT : Where sale transactions did not pass through assessee's books and essential characteristics of distributorship were absent, sale made by Associated Enterprises could not be treated as sales of assessee, a commission agent Read More |
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| Bunkim Finance & Investments (P.) Ltd. vs. Income-tax Officer, Ward 10(3)(1) [2013] 33 taxmann.com 115 (Mumbai - Trib.)
Assessee gets immunity from penalty on its failure to get accounts audited as cap gain treated as business profit -IT : Where requirement to get accounts audited and furnish audit report had arisen because of treating income from sale of shares as business income by revenue instead of capital gain declared by assessee then acceptance of income from sale of shares as capital gain by revenue in immediately preceding year under similar circumstances was a reasonable cause within meaning of section 273B in failure to comply with provisions of section 44AB Read More |
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| Assistant Commissioner of Income-tax vs. UPS Jetair Express (P.)Ltd. [2013] 33 taxmann.com 108 (Mumbai - Trib.)
No TP adjustment required if assessee’s operating margin is within tolerable range of 5%, says ITAT -IT/ILT : Where on basis of TNMM applied by TPO, assessee's operating margin in respect of international transactions entered into with its AEs was found to be within permitted range of ± 5 per cent as mentioned in section 92C, no adjustment could be made to ALP determined by assessee Read More |
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| Thyssenkrupp Industries India (P.) Ltd. vs. Additional Commissioner of Income-tax, Range 3(3), Mumbai [2013] 33 taxmann.com 107 (Mumbai - Trib.)
Cos with multiple segments to be examined on segmental level if they have complete comparable segment -IT/ILT : Where a comparable has two segments and its revenue from comparable segment is complete in itself and is not influenced by inter-segment revenue, comparability in such a case has to be examined on segment level and not on entity level Read More |
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| Deputy Director of Income-tax (IT)1(2), Mumbai vs. Deutsche Bank AG [2013] 33 taxmann.com 91 (Mumbai - Trib.)
No tax to be deducted from gain accrued to FII on cancellation of forward contract if it isn’t taxable in India -IT/ILT : Where gain on account of rollover/cancellation of forward cover contract was not taxable in hands of Foreign Institutional Investor as per relevant DTAA, there was no obligation on part of assessee to deduct tax at source Read More |
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| Fibres & Fabrics International (P.) Ltd. vs. Assistant Commissioner of Income-tax, Circle 11(3), Bangalore [2013] 33 taxmann.com 90 (Bangalore - Trib.)
Matter remanded as additional evidences produced before ITAT were not available earlier -IT/ILT : Where assessee in support of its claim for payment of commission to a foreign company, produced certain additional evidence before Tribunal which were not available earlier, matter was to be remanded back for disposal afresh in light of said addition evidence Read More |
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| Honda Trading Corpn.India (P.) Ltd. vs. Assistant Commissioner of Income-tax, Circle 12(1), New Delhi [2013] 33 taxmann.com 21 (Delhi - Trib.)
Extensive fluctuation in forex rates to be considered while making TP adjustment - Delhi ITAT -IT/ILT : Where revenue authorities while making adjustment to ALP determined by assessee, failed to consider element of abnormal and huge fluctuation in foreign exchange rate favouring foreign currency and against Indian currency, impugned adjustment was to be set aside and, matter was to be remanded back for disposal afresh Read More |
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| Sumanchandra G. Mehta vs. Income-tax Officer -21(2)(2) [2013] 33 taxmann.com 25 (Mumbai - Trib.)
AO is supposed to rectify the typographical errors in e-return -IT: Where there was clerical mistake in e-return, Assessing Officer should rectify such mistake Read More |
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| Assistant Director of Income-tax (IT) -1(2) vs. Clifford Chance [2013] 33 taxmann.com 200 (Mumbai - Trib.) (SB)
Rule of 'force of attraction' given in Article 7 of UN Model Treaty can't be imported into Article 7 of India-UK DTAA -IT/ILT : Article 7(1) of UN Model Convention which are materially different from the provisions of Article 7(1) of the India-UK DTAA read with Article 7(3) thereof. Articles 7(1)(b) and 7(1)(c) of the UN Model Convention as well as of the UN Model Convention Commentary cant be relied upon to come to a conclusion that the connotations of "profits indirectly attributable to permanent establishment" used in Article 7(1) of the Indo-UK treaty incorporates a force of attraction rule thereby bringing Read More |
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| Venus Records & Tapes (P.) Ltd. vs. Additional Commissioner of Income-tax, Circle 11(1) [2013] 33 taxmann.com 49 (Mumbai - Trib.)
Interest on borrowings couldn't be disallowed if assessee had its own funds to advance to its associate concerns -IT : Where assessee had sufficient funds in shape of share capital and share application money out of which it could advance loan to its sister concern, interest paid on borrowed capital would be allowed under section 36(1)(iii) Read More |
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| Shailesh D. Patel vs. Income-tax Officer, Ward 2(5), Baroda [2013] 33 taxmann.com 51 (Ahmedabad - Trib.)
No concealment penalty for errors rectified by assessee voluntarily in assessment proceedings -IT: Where assessee in course of assessment proceedings, declared that profit on sale of land was wrongly considered as capital gain instead of business income and revenue authorities having accepted said declaration, completed assessment, assessee's case did not fall within ambit of Explanation 1 to section 271(1)(c) so as to pass a penalty order Read More |
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| A.P. Moller Maersk vs. Deputy Director of Income-tax (International Taxation) - 1(1) [2013] 33 taxmann.com 44 (Mumbai - Trib.)
Receipts for shared cost of global tracking system linked to shipping income; not taxable under Indo-Denmark DTAA -IT/ILT: Amount received on account of shared cost of global tracking system by foreign shipping company is linked to shipping income and is not taxable as per Article 9 of India- Denmark DTAA Read More |
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| Deputy Commissioner of Income-tax, circle 12(4), Bangalore vs. Ray + Keshavan Design Associates (P.) Ltd. [2013] 33 taxmann.com 40 (Bangalore - Trib.)
Once commercial expediency of a payment is accepted and TDS has been effected, deduction will have to be allowed -IT : Claim for bad debts cannot be disallowed on ground that debts in question have not been established to have become bad Read More |
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| Prakash Narottam Das Gupta vs. Income-tax Officer, Ward 12(3)(2), Mumbai [2013] 33 taxmann.com 48 (Mumbai - Trib.)
Interest on loan isn't deductible from business profits if loan is utilized for investment in shares -IT: Interest paid on bank loan which has been utilized for margin deposits with stock brokers for investment in shares is not an allowable deduction under section 36(1)(iii) Read More |
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| Goldstar Jewellery Design (P.) Ltd. vs. Income-tax Officer, Ward 8(1)(4) [2013] 33 taxmann.com 43 (Mumbai - Trib.)
Since TP adjustments travelled beyond transactions with AE, ITAT granted stay of demand -IT/ILT : Where transfer pricing adjustment in case of assessee was made with respect to entire average capital employed in business whereas, adjustment as per law, was required to be made only with respect to transaction with AE, a prima facie case for stay of demand was made out till disposal of assessee's appeal before Tribunal Read More |
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| Sequent Scientific Ltd. vs. Assistant Commissioner of Income-tax, Range-3(2) [2013] 33 taxmann.com 39 (Mumbai - Trib.)
Sec. 35(2AB) deduction allowed for capital outlay on lab equipments and for computers used for clinical trials -IT : Capital expenditure incurred on lab equipments and computer used for purpose of clinical trials is eligible for allowance as weighted deduction under section 35(2AB) Read More |
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| Swarnandhra IJMII Integrated Township Development Co. (P.) Ltd. vs. Deputy Commissioner of Income-tax, Circle 3(3), Hyderabad [2013] 32 taxmann.com 395 (Hyderabad - Trib.)
Transactions between two residents can't be termed as 'International Transaction' under sec. 92B -IT/ILT : Where assessee and its associated enterprise both were residents of India for tax purposes, transaction between them did not constitute an international transaction and, in such a situation, basic premise for invoking deeming fiction under section 92B(2) did not arise Read More |
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| Sumit Diamond (India) (P.) Ltd. vs. Additional Commissioner of Income-tax, Range 5(3) [2013] 32 taxmann.com 394 (Mumbai - Trib.)
Only export turnover and not entire turnover to be considered for ALP determination -IT/ILT : For purpose of determining ALP of an international transaction only export turnover should be taken into consideration Read More |
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| Capgemini India (P.) Ltd. vs. Assistant Commissioner of Income-tax, Range-10(2) [2013] 33 taxmann.com 5 (Mumbai - Trib.)
Comparables with abnormal profits or losses can't be rejected unless it involves odd business conditions -IT/ILT : Consolidated results which include profit from different overseas jurisdiction having different geographical and marketing conditions are not to be taken into consideration while making a comparability analysis Read More |
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| GE India Industrial (P.) Ltd. vs. Commissioner of Income-tax (A)-IV, Baroda [2013] 33 taxmann.com 15 (Ahmedabad - Trib.)
CIT(A) to keep penalty proceedings in abeyance till the disposal of appeal by ITAT -IT : Where Commissioner (Appeals) initiated penalty proceedings under section 271(1)(c) on basis of enhancement of income made by him, Commissioner (Appeals) could be directed to keep penalty proceedings in abeyance till disposal of quantum appeal by Tribunal Read More |
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| Om Parkash Gupta vs. Income-tax Officer, Ward - 4(1) [2013] 33 taxmann.com 169 (Chandigarh - Trib.)
No exemption for 'LTC' spent on overseas journey even if part of it is performed in India -IT : LTC is exempt from tax only when employee has utilized LTC for travel within India. Nothing in Rule 2B provides assessee a liberty to claim exemption where part of his total ticket package is spent on his overseas travel and part of his journey being within India Read More |
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| Assistant Commissioner of Income-tax, Circle-6(1), Hyderabad vs. N. Raghu Varma [2013] 32 taxmann.com 383 (Hyderabad - Trib.)
Inability to continue with agriculture operations due to paucity of funds won’t lessen sec. 54B deduction -IT : Where assessee was unable to cultivate an agricultural land due to vagaries of nature and non availability of resources, exemption under section 54B could not be denied on its sale Read More |
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| Statutes |
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| CBDT issues FAQs and Guidance on ‘Advance Pricing Agreement’ -IT/ILT : Advance Pricing Agreement Guidance with FAQs Read More |
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| CBDT initiative - Issues a booklet to educate taxpayers on appellate proceedings -IT : Appeals and Procedures for Filing Appeals Read More |
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| PRESS RELEASE [F. NO. 06/16/2012-ECB]
Lower withholding rates in Sec. 194LC and 194LD introduced to encourage subscription to Indian Debt Securities -IT/ILT : Rationalisation of With-Holding Tax (WHT) on Foreign Investments in Indian Debt Securities Read More |
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| NOTIFICATION NO. 35/2013 [F.NO. 165/06/2012-ITA.I]
CBDT notifies ‘Press Trust of India’ as a news agency for purposes of sec. 10(22B) -IT : Section 10(22B) of the Income-Tax Act, 1961 - Exemptions - News Agency - Notified News Agency Read More |
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| Articles |
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| Property Sellers - Beware of section 153C -Property Sellers - Beware of section 153C Read More |
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| Technical Services : A Deeper Insight -Technical Services : A Deeper Insight Read More |
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| 100% depreciation on air pollution control equipment even if part of regular P&M -100% depreciation on air pollution control equipment even if part of regular P&M Read More |
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| Validity of taking hyper technical view of section 40(a)(ia) -Validity of taking hyper technical view of section 40(a)(ia) Read More |
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| Companies on the MAT! Delhi High Court upholds retro amendments widening the tax base under MAT!!! -Companies on the MAT! Delhi High Court upholds retro amendments widening the tax base under MAT!!! Read More |
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| TDS on reimbursement of salary in case of secondment of foreign employees -TDS on reimbursement of salary in case of secondment of foreign employees Read More |
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| Share valuation for income-tax purposes need not be in sync with the RBI guidelines -Share valuation for income-tax purposes need not be in sync with the RBI guidelines Read More |
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| News |
| | |
| Restructuring of the Income Tax Department -Restructuring of the Income Tax Department [24-05-2013] Read More |
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| Excise Duty free Sale of Goods Manufactured in India Allowed to International Passengers or Members of Crew Arriving from Abroad -Excise Duty free Sale of Goods Manufactured in India Allowed to International Passengers or Members of Crew Arriving from Abroad [24-05-2013] Read More |
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| No Place for India on OECD Bribery Convention Sans Strict Laws at Home -No Place for India on OECD Bribery Convention Sans Strict Laws at Home [24-05-2013] Read More |
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| IPL spot- fixing: I- T begins probe into illegal transactions -IPL spot- fixing: I- T begins probe into illegal transactions [23-05-2013] Read More |
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| Tax Talk -Tax Talk [22-05-2013] Read More |
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| I-T dept sends another 35,000 letters to high spenders to pay tax -I-T dept sends another 35,000 letters to high spenders to pay tax [22-05-2013] Read More |
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| Mauritius promises India help to fight tax dodgers -Mauritius promises India help to fight tax dodgers [22-05-2013] Read More |
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| Delhi police, 5- star hotels among tax defaulters -Delhi police, 5- star hotels among tax defaulters [22-05-2013] Read More |
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| Govt notifies withholding tax rate cut on infra bonds -Govt notifies withholding tax rate cut on infra bonds [22-05-2013] Read More |
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| Govt to Seek I-T Info from 70K High Priority Cases -Govt to Seek I-T Info from 70K High Priority Cases [22-05-2013] Read More |
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| Ready to Talk on Tax;Yet to Hear from Indian Govt -Ready to Talk on Tax;Yet to Hear from Indian Govt [22-05-2013] Read More |
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| Government urges all tax Payers to Disclose their True income and pay Appropriate taxes within the Current Financial Year -Government urges all tax Payers to Disclose their True income and pay Appropriate taxes within the Current Financial Year [21-05-2013] Read More |
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| CBEC detects excise duty evasion by Bhushan Steel -CBEC detects excise duty evasion by Bhushan Steel [21-05-2013] Read More |
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| How GST Delay is Forcing MSMEs to Relocate -How GST Delay is Forcing MSMEs to Relocate [20-05-2013] Read More |
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| One-Time Amnesty Plan for Service Tax Defaulters -One-Time Amnesty Plan for Service Tax Defaulters [20-05-2013] Read More |
| | |
| Germany approves bank reform to protect taxpayers -Germany approves bank reform to protect taxpayers [20-05-2013] Read More |
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| Mauritius on tax treaty with India -Mauritius on tax treaty with India [20-05-2013] Read More |
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| Govt to arrest service tax defaulters -Govt to arrest service tax defaulters [20-05-2013] Read More |
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| Income Tax office slaps Rs. 577- cr tax demand notice on Infosys -Income Tax office slaps Rs. 577- cr tax demand notice on Infosys [20-05-2013] Read More |
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| Amazon to be grilled on UK tax presence -Amazon to be grilled on UK tax presence [18-05-2013] Read More |
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| US lawmakers accuse IRS officials of lying in tax scandal -US lawmakers accuse IRS officials of lying in tax scandal [18-05-2013] Read More |
| | |
| CBDT issues FAQs and Guidance on ‘Advance Pricing Agreement’ -CBDT issues FAQs and Guidance on ‘Advance Pricing Agreement’ [18-05-2013] Read More |
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| Taxation of e-commerce transactions - A Singapore tax guide -Singaporean Tax Authority has issued a guide for tax on e-commerce transactions in different scenarios, inter-alia, location of server, branch operations, etc. [17-05-2013] Read More |
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| Bajaj Auto: Lower tax rate boosts bottom line -Bajaj Auto: Lower tax rate boosts bottom line [17-05-2013] Read More |
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| Mauritius says tax info pact with India ready -Mauritius says tax info pact with India ready [17-05-2013] Read More |
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| Credai for review of local body tax -Credai for review of local body tax [17-05-2013] Read More |
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| Lower Tax, One-Off Gain Boost Mahindra Satyam Profit Fourfold -Lower Tax, One-Off Gain Boost Mahindra Satyam Profit Fourfold [17-05-2013] Read More |
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| A brief introduction to 'Force of attraction' and judicial pronouncements -A brief introduction to 'Force of attraction' and judicial pronouncements [16-05-2013] Read More |
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| Arvind Kejriwal questions Sibal’s Vodafone move -Arvind Kejriwal questions Sibal’s Vodafone move [16-05-2013] Read More |
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| Green signal for conciliation in Vodafone tax dispute -Green signal for conciliation in Vodafone tax dispute [15-05-2013] Read More |
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| IRS kept shifting targets in scrutiny of tax-exempt groups: Report -IRS kept shifting targets in scrutiny of tax-exempt groups: Report [14-05-2013] Read More |
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| Ranbaxy to Pay $500-M Penalty to US Govt to Settle Lawsuits -Ranbaxy to Pay $500-M Penalty to US Govt to Settle Lawsuits [14-05-2013] Read More |
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| Income Tax Ombudsman: Take his help to Redress Your Grievances -Income Tax Ombudsman: Take his help to Redress Your Grievances [13-05-2013] Read More |
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| I-T looks at global practices on transfer pricing -I-T looks at global practices on transfer pricing [11-05-2013] Read More |
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| Markets start special trading on a flat note -Markets start special trading on a flat note [11-05-2013] Read More |
| | |
| President assents to Finance Bill, 2013 -President assents to Finance Bill, 2013 [11-05-2013] Read More |
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| Cos now Put Price Tags on Natural Resources -Cos now Put Price Tags on Natural Resources [11-05-2013] Read More |
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| - [ ] Read More |
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| Import Duty on Steel, Aluminium & Brass Scraps -Import Duty on Steel, Aluminium & Brass Scraps [11-05-2013] Read More |
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| States Push for Common Exempt List Under GST -States Push for Common Exempt List Under GST [11-05-2013] Read More |
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| Offer Maturity Benefits on Micro-policies, Says Irda -Offer Maturity Benefits on Micro-policies, Says Irda [11-05-2013] Read More |
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| Markets may See a Flurry of Share -Markets may See a Flurry of Share [11-05-2013] Read More |
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| Pay More Service Tax on House Over 1 -Pay More Service Tax on House Over 1 [10-05-2013] Read More |
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Corporate Laws |
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| SC/HC |
| | |
| Spentex Industries Ltd. vs. Indo Rama Synthetics (India) Ltd. [2013] 33 taxmann.com 350 (Delhi)
Court has no power u/s 392(1)(b) to modify the basic fabric of the sanctioned scheme -CL : The modifications which the Court can carry out are only to be for the proper working of the Scheme. The Court cannot change the basic fabric of the Scheme. A modification for the proper working of the Scheme is distinct from a modification of the Scheme itself . What is permissible under Section 392(1)(b) is the former and not the latter. Read More |
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| Nirma Industries Ltd. vs. Securities & Exchange Board of India [2013] 33 taxmann.com 333 (SC)
Takeover Code empowers SEBI to permit withdrawal of open offers only where performance of offer is impossible -CL : Regulation 27(1)(d) of the 1997 Takeover Code[corresponding to Regulation 23(1)(d) of the 2011 Takeover Code] doesn't empower SEBI to permit withdrawal of an offer merely because it has become uneconomical for acquirer to perform the public offer. Other two clauses of Reg. 27(1) are within the same genus of impossibility. Therefore, applying the principle of 'ejusdem generis' "such circumstances" in clause (d) would also be restricted to situation which would make it impossible for the acqu Read More |
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| VOV Cosmetics (P.) Ltd. vs. Union of India [2013] 33 taxmann.com 55 (Bombay)
Authority not bound to pass rectification order to change Co’s name unless resemblance of name is undesirable -CL : Merely because name of a company subsequently registered is identical with or too nearly resembles name of a company which has already been registered, albeit, through inadvertence or otherwise, it does not follow that an order for rectification is bound to be passed Read More |
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| V.L.S. Finance Ltd. vs. Union of India [2013] 33 taxmann.com 199 (SC)
Court's prior permission isn't required for compounding offence by CLB under sec. 621A -CL : The legislature has conferred the same power to the Company Law Board which can exercise its power either before or after the institution of any prosecution whereas the criminal court has no power to accord permission for composition of an offence before the institution of the proceeding. The legislature in its wisdom has not put the rider of prior permission of the court before compounding the offence by the Company Law Board and in case the contention of the appellant is accepted, same wo Read More |
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| Sreejaya Bhattacharjee Godfrey vs. Shreejaya Tea & Industries (P.) Ltd. [2013] 33 taxmann.com 12 (Calcutta)
Sole director of a Private Co. can’t act individually unless authorized by board of directors -CL: A director, unless expressly authorized by board of directors cannot act individually to represent a private limited company in which there has to be minimum two directors in board of directors to exercise powers of company Read More |
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| Manohar Lal Sharma vs. Union of India [2013] 33 taxmann.com 33 (SC)
FDI in multi-brand retail trading isn't unconstitutional or illegal - SC -CL : On matters affecting policy, this Court does not interfere unless the policy is unconstitutional or contrary to the statutory provisions or arbitrary or irrational or in abuse of power. The impugned policy that allows FDI up to 51% in Multi-Brand Retail Trading does not appear to suffer from any of these vices Read More |
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| CCI/CAT |
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| Arshiya Rail Infrastructure Ltd. vs. Competition Commission of India [2013] 33 taxmann.com 28 (CAT)
Appeal against CCI's order is possible only if such order is statutorily appealable -Competition Act : Only those orders which are mentioned in section 53A(1)(a) and no other orders, directions or decisions of Commission are appealable Read More |
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| SAT |
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| Sunday Exports Ltd. vs. Adjudicating Officer, Securities and Exchange Board of India [2013] 33 taxmann.com 101 (SAT - Mumbai)
Obligation to frame Code of Conduct to prevent ‘insider trading’ is sacrosanct; its violation invites penalty -SEBI : Requirement of framing a Code of Conduct for prevention of insider trading by companies is a mandate of law and nobody can be allowed to violate same Read More |
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| Vashi Construction (P.) Ltd. vs. Securities and Exchange Board of India [2013] 33 taxmann.com 119 (SAT - Mumbai)
Announcement of substantial acquisition to be made if it exceeds threshold limit even if acquired in a concert -SEBI : Where appellants acted in concert with each other to acquire huge number of shares in excess of stipulated 15 per cent, appellants were obliged to make a public announcement and were liable to penalty on failure to do so Read More |
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| Statutes |
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| CIRCULAR NO. MRD/DP/16/2013
SEBI provides for mandatory audit of algorithmic trading system after every six months -SEBI : Broad Guidelines On Algorithmic Trading Read More |
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| NOTIFICATION NO. DPSS.CO.AD. NO. 1946/02.27.004/20
Overseas principal can set-up services for cross border money transfer to India - RBI -FEMA/ILT : Authorisation Applications from Overseas Principals for Cross Border In-Bound Money Transfer Services to India Read More |
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| NOTIFICATION F. NO. IRDA/IAC/20/78/2013
IRDA issues notification for reconstitution of the Insurance Advisory Committee -INSURANCE : IRDA [Insurance Advisory Committee (Meetings)] Regulations, 2000 - Reconstitution of Insurance Advisory Committee Read More |
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| CIRCULAR NO. CFD/DIL/8/2013
Clarification on revised requirements for stock exchanges and listed Cos. undertaking schemes of arrangements -SEBI : Scheme of Arrangement under the Companies Act, 1956 - Revised Requirements for the Stock Exchanges and Listed Companies - Clarification Read More |
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| A.P. (DIR SERIES 2012-13) CIRCULAR NO. 105
Period for realisation and repatriation of export proceeds reduced to 9 months for ADs -FEMA/ILT : Export of Goods and Software - Realisation and Repatriation of Export Proceeds - Liberalisation Read More |
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| NOTIFICATION NO.LAD-NRO/GN/2013-14/09/5738
Frequency for renewal of registration by depositories increased, liability fixed in case of defaults by issuer co. -SEBI : SEBI (Depositories and Participants) (Amendment) Regulations, 2013 - Amendment in Regulation 20A and Insertion of Regulations 39A & 64A Read More |
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| MASTER CIRCULAR NO. MRD/DP/14/2013
SEBI issues Master Circular for Stock Exchange - Cash Market -SEBI : Master Circular for Stock Exchange - Cash Market Read More |
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| CIRCULAR NO IRDA/HLT/CIR/036/02/2013
IRDA issues guidelines on standardization in Health insurance -INSURANCE : Guidelines on Standardization in Health Insurance Read More |
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| A.P. (DIR SERIES 2012-13) CIRCULAR NO. 104
Payments to co. for issue of shares under FDI route can be made through bank account opened by NR -FEMA/ILT : Foreign Direct Investment (FDI) in India - Issue of Equity Shares under the FDI Scheme Allowed under the Government Route Against Pre-Operative/Pre-Incorporation Expenses Read More |
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| NOTIFICATION NO.SO 1133(E) [F.NO.F.2/221/2006-EPZ]
Notification rescinding the approval granted for setting-up of SEZ by Bata India is withdrawn -SEZ : Section 4 of the Special Economic Zones Act, 2005 - Bata India Ltd. - Rescission of Notification No. SO 66(E), Dated 9-1-2008 Read More |
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| CIRCULAR DBOD.NO.BP.BC.92/21.04.141/2012-13
Limit on investments by bank under ‘Held to Maturity’ category revised, subject to conditions -BANKING : Monetary Policy Statement 2013-14 - SLR Holdings Under Held to Maturity Category Read More |
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| NOTICE
Format for seeking clarification on the FDI policy issued -FDI : Format for Seeking Clarifications on The FDI Policy Issues Read More |
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| CIRCULAR NO. CFD/DIL/7/2013
Clarification on applicability of Circular No 3/2013 amending equity listing agreements and ESOP guidelines -SEBI : Clarification on SEBI Circular No. CFD/DIL/3/2013, Dated 17-1-2013 - Amendments to SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and Equity Listing Agreement Read More |
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| A.P. (DIR SERIES 2012-13) CIRCULAR NO. 103
Proposal to align gold import regulations with rest of the import regulations -FEMA/ILT : Import of Gold by Nominated Banks/Agencies Read More |
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| NOTIFICATION NO. SO 1070(E) [NO.II/21022/23(49)/20
Compounding of offences for non-furnishing of returns under Foreign Contribution (Regulation) Act, 2010 allowable -FOREIGN CONTRIBUTION : Section 41 of the Foreign Contribution (Regulation) Act, 2010 - Composition of Certain Offences - Notified Officer Competent for Compounding Specified Offences Read More |
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| CIRCULAR NO.10/2013 [NO. MCA 21/37/2013]
Applicability of Regulation 17(6) in processing of work items -CL : Applicability of Regulation 17(6) of Companies Regulations, 1956 In Processing Work Items - Creation of Ad Hoc Work Items to Extend Validity of Same Beyond Time Limits Prescribed Under Said Regulation Read More |
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| NOTIFICATION NO. LAD-NRO/GN/2013-14/07/1005
SEBI establishes its local office at Kochi -SEBI : Establishment of Local Office of the Board at Kochi Read More |
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| CIRCULAR NO.IRDA/SUR/AREG/CIR/086/05/2013
Surveyor’s old license would be valid until new online system is developed to issue license on basis of membership -INSURANCE : Insurance Surveyors and Loss Assessors (Licensing, Professional Requirements and Code of Conduct) (Amendment) Regulations, 2013 - Updation of Surveyor Data for Online Licensing System Read More |
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| CIRCULAR NO. IRDA/SUR/AREG/CIR/085/05/2013
Changes mandated in respect of corporate surveyors by IRDA surveyors (Amended) Regulations, 2013 -INSURANCE : Insurance Surveyors and Loss Assessors (Licensing, Professional Requirements and Code of Conduct) (Amendment) Regulations, 2013 – Specified Changes Mandated in Respect of Corporate Surveyors Read More |
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| NOTIFICATION NO. LAD-NRO/GN/2013-14/06/8513
SEBI establishes its local office at Patna -SEBI : Establishment of Local Office of the Board at Patna Read More |
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| Articles |
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| Your Queries on Accounts and Audit -Your Queries on Accounts and Audit Read More |
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| News |
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| Issue Of Quantitative Easing In Usa, China And Japan Has No Relevance At All To The Situation In India: Fm -Issue Of Quantitative Easing In Usa, China And Japan Has No Relevance At All To The Situation In India: Fm [24-05-2013] Read More |
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| Trai moots proposal for termination charges on commercial SMSes -Trai moots proposal for termination charges on commercial SMSes [24-05-2013] Read More |
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| FinMin hopes for 50% cut in oil subsidy in FY14 -FinMin hopes for 50% cut in oil subsidy in FY14 [24-05-2013] Read More |
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| Fresh notices to Airtel, Voda & Idea -Fresh notices to Airtel, Voda & Idea [24-05-2013] Read More |
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| Finance, Petro Mins Pushing up KG-D 6 Prices, says Gurudas -Finance, Petro Mins Pushing up KG-D 6 Prices, says Gurudas [24-05-2013] Read More |
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| Cabinet Okays I-T Revamp -Cabinet Okays I-T Revamp [24-05-2013] Read More |
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| Trai for Voucher to Cut Roaming Rates -Trai for Voucher to Cut Roaming Rates [24-05-2013] Read More |
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| Federal Bank, TCS ink deal for ATMs -Federal Bank, TCS ink deal for ATMs [23-05-2013] Read More |
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| Rs.5.5 lakh- fine imposed on HSBC for unfair trade practice -Rs.5.5 lakh- fine imposed on HSBC for unfair trade practice [23-05-2013] Read More |
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| P. Chidambaram’s Speech at ICSI Seminar on Indian Financial Code -P. Chidambaram’s Speech at ICSI Seminar on Indian Financial Code [23-05-2013] Read More |
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| ICSI Conducts National Seminar on ‘Indian Financial Code’ -ICSI Conducts National Seminar on ‘Indian Financial Code’ [23-05-2013] Read More |
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| Finmin OKs 1 lakh-cr Diesel, LPG Subsidy -Finmin OKs 1 lakh-cr Diesel, LPG Subsidy [23-05-2013] Read More |
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| Sebi Settles Case against Fortis Healthcare Holdings -Sebi Settles Case against Fortis Healthcare Holdings [23-05-2013] Read More |
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| Oil companies under CCI scanner for price-fixing -Oil companies under CCI scanner for price-fixing [22-05-2013] Read More |
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| Competition Commission to play an important role as a regulator of Competition -Competition Commission to play an important role as a regulator of Competition [21-05-2013] Read More |
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| Sebi Allows Depositories to Issue Account Statements -Sebi Allows Depositories to Issue Account Statements [21-05-2013] Read More |
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| Sebi frowns on prepaid brokerages -Sebi frowns on prepaid brokerages [21-05-2013] Read More |
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| Sebi Plans Rules for Foreign Firms Enticing Investors -Sebi Plans Rules for Foreign Firms Enticing Investors [20-05-2013] Read More |
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| RBI to Fix Tenor & Rates For Loans to Foreign Arms -RBI to Fix Tenor & Rates For Loans to Foreign Arms [20-05-2013] Read More |
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| COAI to Seek Cancellation of 19 Tata Tele GSM Permits -COAI to Seek Cancellation of 19 Tata Tele GSM Permits [20-05-2013] Read More |
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| Sebi plans separate rules for foreign firms -Sebi plans separate rules for foreign firms [20-05-2013] Read More |
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| RBI moots review of all bank licences on ‘ fit & proper’ norms -RBI moots review of all bank licences on ‘ fit & proper’ norms [20-05-2013] Read More |
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| Squeeze housing fin firms under RBI umbrella to shield from red tape: SBI -Squeeze housing fin firms under RBI umbrella to shield from red tape: SBI [20-05-2013] Read More |
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| Low- cost Casa deposits key to profitability for NBFCs -Low- cost Casa deposits key to profitability for NBFCs [18-05-2013] Read More |
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| RBI governor, Sebi chief may appear before House panel nextweek -RBI governor, Sebi chief may appear before House panel nextweek [18-05-2013] Read More |
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| FinMin for changes in prize chits & money circulation Act -FinMin for changes in prize chits & money circulation Act [16-05-2013] Read More |
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| Sebi: Reactive or active regulator? -Sebi: Reactive or active regulator? [16-05-2013] Read More |
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| FinMin okays 8.5% PF rate for FY13 -FinMin okays 8.5% PF rate for FY13 [16-05-2013] Read More |
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| Inflation- indexed bonds from next month -Inflation- indexed bonds from next month [16-05-2013] Read More |
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| Government Decides to Launch Inflation Index Bonds (IIBs) -Government Decides to Launch Inflation Index Bonds (IIBs) [15-05-2013] Read More |
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| Registration Act to be taken up by Cabinet tomorrow -Registration Act to be taken up by Cabinet tomorrow [15-05-2013] Read More |
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| Sebi Begins to Refund Sahara Investors -Sebi Begins to Refund Sahara Investors [15-05-2013] Read More |
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| IL& FS, 8 banks ink MoU for infra loans -IL& FS, 8 banks ink MoU for infra loans [14-05-2013] Read More |
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| Reserve Bank Restricts Gold Import By Banks -Reserve Bank Restricts Gold Import By Banks [14-05-2013] Read More |
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| Trade Deficit Widens on Huge Gold Imports -Trade Deficit Widens on Huge Gold Imports [14-05-2013] Read More |
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| Home Ministry Backs Trai Effort on One Number for Distress Calls -Home Ministry Backs Trai Effort on One Number for Distress Calls [14-05-2013] Read More |
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| NSEs Debt Trading Starts off on Tepid Note with 6. 6 cr Turnover -NSEs Debt Trading Starts off on Tepid Note with 6. 6 cr Turnover [14-05-2013] Read More |
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| Sebi Warns India Infoline for Breaching Broker Norms -Sebi Warns India Infoline for Breaching Broker Norms [14-05-2013] Read More |
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| Faced with Soiled Bills, RBI Gears up for Plastic Notes -Faced with Soiled Bills, RBI Gears up for Plastic Notes [13-05-2013] Read More |
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| Sebi Plans Annulment Policy for Freak Trades -Sebi Plans Annulment Policy for Freak Trades [13-05-2013] Read More |
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| Govt May Appoint 6-7 Bankers for CIL Stake Sale -Govt May Appoint 6-7 Bankers for CIL Stake Sale [11-05-2013] Read More |
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| Official Amendment to the Multi-State Co-operative Societies (Amendment) Bill, 2010 pending in Lok Sabha -Official Amendment to the Multi-State Co-operative Societies (Amendment) Bill, 2010 pending in Lok Sabha [10-05-2013] Read More |
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| Foreign chains get leeway on back- end investments -Foreign chains get leeway on back- end investments [10-05-2013] Read More |
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| Stamp Duty by States to Hit Road Projects -Stamp Duty by States to Hit Road Projects [10-05-2013] Read More |
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Service Tax Laws |
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| SC/HC |
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| Confederation of Real Estate Developers' Association of India (Karnataka) vs. Union of India [2013] 33 taxmann.com 160 (Karnataka)
Explanations to sec. 65(105)(zzq) and 65(105)(zzzh) are constitutionally valid -ST : Section 65(105)(zzzzu) Explanations inserted below Section 65(105)(zzq) and 65(105)(zzzh) are constitutionally valid, as they do not amount to tax on 'land or buildings' and service tax is levied on construction services only Read More |
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| Safe & Sure Marine Service (P.) Ltd. vs. Commissioner of Service Tax, Mumbai [2013] 33 taxmann.com 161 (Bombay)
Pre-deposit requirement to be waived off in case of inconsistent stand of revenue to levy service-tax -ST : When there is inconsistency in stand of revenue in relation to head under which service tax was leviable, requirement of pre-deposit was to be waived Read More |
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| Compucom Software Ltd. vs. Union of India [2013] 33 taxmann.com 20 (Rajasthan)
Department can’t make recovery when stay application is pending before Tribunal, HC supports assessee -ST : When Department sought to initiate recovery proceeding pending stay application before Tribunal, Tribunal was directed to hear and decide assessee's stay application within 3 weeks and till then, Department could not take any coercive action against assessee Read More |
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| Commissioner of Central Excise, Jamshedpur vs. Tinplate Company of India Ltd. [2013] 33 taxmann.com 16 (Jharkhand)
Extended period of limitation was not invokable for recovery of tax if all facts were in knowledge of department -ST : Where assessee had declared nature of goods/services continuously in its periodical returns and all facts were in knowledge of revenue, allegation of suppression of facts with intent to evade payment of duty/tax was not sustainable and extended period of limitation was not invocable Read More |
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| CESTAT/CCE |
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| Commissioner of Central Excise, Hyderabad vs. Ramakrishna Industrial Canteen [2013] 33 taxmann.com 220 (Bangalore - CESTAT)
Evasion penalty under sec. 78 was not imposable if there was reasonable cause for non-payment of ST -ST : Where, in view of reasonable cause for failure to pay service tax, section 80 has been applied to set aside penalty under section 76, no penalty can be levied under section 78 as well Read More |
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| Shree Balaji Enterprises vs. Commissioner of Central Excise, Meerut - I [2013] 33 taxmann.com 221 (New Delhi - CESTAT)
Time-limit under sec. 11B for claiming ST refund isn’t applicable if ST is paid under protest -ST : Time-limit of section 11B of Central Excise Act, 1944 for claiming refund doesn't apply in case service tax was disputed and was paid under protest Read More |
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| S.K. Kareemum vs. Commissioner of Central Excise, Hyderabad-III [2013] 33 taxmann.com 198 (Bangalore - CESTAT)
Hiring of buses does not amount to ‘rent-a-cab’ service -ST : Hiring of buses to State Road Transport Corporation for being plied as public transport system does not, prima facie, amount to 'rent-a-cab' services Read More |
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| Pooja Marketing Agencies vs. Commissioner of Customs & Central Excise, Hyderabad [2013] 33 taxmann.com 219 (Bangalore - CESTAT)
Procurement of an order for clients is covered under ‘Business Auxiliary Services’ -ST : Procurement of purchase orders for various products of client, maintenance of effective follow-up and undertaking of any promotional/ marketing activities in respect of client's brands, prima facie, amounts to Business Auxiliary Services Read More |
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| Anand Decorators & Hirers vs. Commissioner of Service Tax, Ahmedabad [2013] 33 taxmann.com 103 (Ahmedabad - CESTAT)
Deliberate non-payment of ST warrants invocation of extended period to recover ST dues -ST : Collection of amounts by mentioning same on reverse side and not paying service tax thereon amounts to mis-declaration of value and suppression of facts on part of assessee and extended period of limitation was invocable Read More |
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| Ticel Bio Park Ltd., In re vs. [2013] 33 taxmann.com 102 (CCE - Chennai)
Electricity charge recovered from tenant not includible in rent from letting out of an immovable property -ST : Electricity charges, towards electricity consumed by tenant, recovered on actual basis by landlord are not includible in value of renting of immovable property services; but, operation and maintenance charges are includible Read More |
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| Karur Gayathri Finance Ltd. vs. Commissioner of Central Excise, Trichy [2013] 33 taxmann.com 104 (Chennai - CESTAT)
Refund of ST paid under protest can be claimed within one year from the date of settlement of dispute -ST : Hire Purchase Finance is not covered under service tax levy under Banking and other Financial Services. Read More |
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| Gujarat Boron Derivatives (P.) Ltd. vs. Commissioner of Customs, Ahmedabad [2013] 33 taxmann.com 105 (Ahmedabad - CESTAT)
Pre-deposit order may be modified in view of subsequent decision in favour of assessee -ST : In view of subsequent favourable judgments, pre-deposit order passed may be modified to waive such requirement, as not modifying such order will result in creation of additional work by way of payment of amount under different challans and sanction of refund subsequently Read More |
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| Cotton City Developers (P.) Ltd. vs. Commissioner of Central Excise (Service Tax), Coimbatore [2013] 33 taxmann.com 125 (Chennai - CESTAT)
Developers are liable for ST on activity of development of residential complex through contractors -ST : Prima facie, developers getting complex constructed on land registered in name of individual buyers are liable to service tax and services of hired contractors engaged in actual construction are input services for developers Read More |
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| Associated Aluminium Industries (P.) Ltd. vs. Commissioner of Service Tax, Mumbai-I [2013] 33 taxmann.com 126 (Mumbai - CESTAT)
Time-limit for refund of ST to be determined from the date of filing of refund claim -ST : Claim for refund of service tax paid on services used in export filed after expiry of 6 months from April to June, 2008 was dismissed as barred by limitation; extension of time-limit to 1 year is not applicable to claims filed before 7-7-2009 Read More |
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| Shakeel Haider Engineers & Contractors vs. Commissioner of Central Excise, Lucknow [2013] 33 taxmann.com 124 (New Delhi - CESTAT)
Belated appeal can’t be rejected without considering reasons behind such delay -ST : Appeal cannot not be thrown at threshold to convert meritorious appeal into de-meritorious without considering reasons of delay in filing it; application for condonation must be decided reasonably and in accordance with law Read More |
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| Bharat Sanchar Nigam Ltd. vs. Commissioner of Central Excise, Allahabad [2013] 33 taxmann.com 79 (New Delhi - CESTAT)
Matter remanded as demand was confirmed without considering docs produced by assessee -ST : Where demand has been confirmed without considering documents produced by assessee, matter needs to be remanded back for fresh adjudication Read More |
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| Super Cable Network vs. Commissioner of Central Excise, Pune-III [2013] 33 taxmann.com 32 (Mumbai - CESTAT)
Speed post isn't valid mode of service as law requires registered post with acknowledgement due -ST : Sending adjudication order through speed-post is not a valid service as per section 37C of the Central Excise Act, 1944 as order is to be sent by registered post with acknowledgement due Read More |
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| Jaiprakash Associates Ltd. vs. Commissioner of Central Excise, Allahabad [2013] 33 taxmann.com 78 (New Delhi - CESTAT)
Credit to be allowed for ‘rent-a-cab’ service availed by employees for official tours -ST : Rent-a-cab service used for its employees is eligible for credit subject to assessee establishing that such service was used for undertaking marketing/official tours Read More |
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| Perfect Colorants & Plastics (P.) Ltd. vs. Commissioner of Central Excise, Daman [2013] 33 taxmann.com 122 (Ahmedabad - CESTAT)
ST paid on service of commission agent facilitating sales and marketing of goods is input service -ST : Service tax paid on services of a Commission Agent who facilitated sales and marketing of manufactured goods, is admissible as input service credit Read More |
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| Merino Industries Ltd. vs. Commissioner of Central Excise, Meerut-II [2013] 33 taxmann.com 76 (New Delhi - CESTAT)
Services of handling, stevedoring, loading, unloading, tug-hire, etc., used for export are eligible for refund -ST : Handling, stevedoring, loading, unloading, tug hire and labour arrangement services used for export goods are eligible for refund as they are 'port services' Read More |
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| ADF Foods Ltd. vs. Commissioner of Central Excise, Ahmedabad [2013] 33 taxmann.com 77 (Ahmedabad - CESTAT)
ST paid on services of ‘Terminal Handling’ used in export of goods is eligible for refund -ST : Service tax paid on services of 'Terminal Handling Charges' availed for use in export of goods is eligible for refund Read More |
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| Amhar Associates vs. Commissioner of Central Excise, Lucknow [2013] 33 taxmann.com 71 (New Delhi - CESTAT)
Distributors aren’t liable to pay ST on commission earned when ST on total SIM value is paid by service provider -ST : Commission earned by distributors of SIM cards is not liable to service tax when service tax on full value has been paid by telecom service provider Read More |
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| Indore Municipal Corpn. vs. Commissioner of Customs & Central Excise, Indore [2013] 33 taxmann.com 75 (New Delhi - CESTAT)
Commissioner (Appeals) has no power to condone delay beyond the prescribed limitation period -ST : Commissioner (Appeals) has no power to condone delay beyond limitation period specified in section 85 Read More |
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| Gujrati Travels vs. Commissioner of Central Excise, Indore [2013] 33 taxmann.com 73 (New Delhi - CESTAT)
Appeal for non-prosecution dismissed as assessee neither appeared nor filed adjournment application -ST : When assessee does not appear despite notice nor files adjournment in hearing of appeal filed by itself, appeal was liable to be dismissed for non-prosecution Read More |
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| Commissioner of Service Tax, Delhi vs. Saurer Embroidery [2013] 33 taxmann.com 74 (New Delhi - CESTAT)
Appeal in pursuance of review carried out by different members on different dates is unauthorized -ST : When order appealed against was reviewed at different points of time i.e., there was no application of mind by both Members of Committee (Chief Commissioners) at a time, appeal of Revenue cannot be said to be authorised Read More |
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| Ashok Builders vs. Commissioner of Central Excise, Jaipur-I [2013] 33 taxmann.com 70 (New Delhi - CESTAT)
No ST on architect’s services if evidences are not produced to establish registration of assessee as architect -ST : There cannot be any charge of service tax under 'Architect's services' unless Department proves that assessee was a registered architect under Architect Act, 1962 Read More |
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| Executive Engineer Water Resources Department vs. Commissioner of Central Excise & Customs Nagpur/Nasik [2013] 33 taxmann.com 17 (Mumbai - CESTAT)
Erection of sluice gates in agricultural dams isn’t ‘Erection, Commissioning and Installation’ service -ST : Erection of sluice gates in agricultural dams constructed by various corporations cannot, prima facie, be regarded as "Erection, Commissioning and Installation Services", as agricultural dam or sluice gates thereto cannot be considered as a plant and machinery or equipment or structures thereof Read More |
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| Petron Engg. Construction Ltd. vs. Commissioner of Central Excise, Lucknow [2013] 33 taxmann.com 72 (New Delhi - CESTAT)
Case remanded to adjudicating authority to decide afresh in light of subsequent verdict of HC on similar issue -ST : Matter was remanded back to Adjudicating Authority to decide afresh in light of judgment of High Court passed after decision by lower authorities Read More |
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| Maa Shakti Party Plot vs. Commissioner of Service Tax, Ahmedabad [2013] 33 taxmann.com 69 (Ahmedabad - CESTAT)
Penalties waived off as assessee had genuine belief for non-payment of service tax -ST : Penalties are liable to be waived when assessee had bona fide belief for non-payment of service tax Read More |
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| Trio Elevators Co. (I.) Ltd. vs. Commissioner of Service Tax, Ahmedabad [2013] 33 taxmann.com 61 (Ahmedabad - CESTAT)
Sec. 80 penalty to be waived off if assessee had genuine doubt about the liability to pay service tax -ST : When assessee has genuine doubt as to liability to pay service tax and has paid service tax along with interest on being pointed out, no penalty can be imposed on assessee in view of provisions of section 80 Read More |
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| Punjab National Bank vs. Commissioner of Central Excise, Kanpur [2013] 33 taxmann.com 68 (New Delhi - CESTAT)
CESTAT remands the issue of refund claim as the matter needed proper examination -ST : When all materials were on record and matter required proper examination of such materials for grant of refund claim to assessee, matter was required to be remanded back Read More |
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| Port Officer, Gujarat Maritime Board vs. Commissioner of Central Excise, Bhavnagar [2013] 33 taxmann.com 60 (Ahmedabad - CESTAT) (TM)
Extended period of limitation isn’t invokable in case of divergent views -ST : When similar issue had to be referred to Larger Bench, it would show that two views were possible and, therefore, prima facie, extended period of limitation cannot be invoked Read More |
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| Anand Construction Co. vs. Commissioner of Central Excise, Kolhapur [2013] 33 taxmann.com 59 (Mumbai - CESTAT)
Construction of hostels for educational institutes is non-commercial purpose; ST not leviable -ST : Building constructed as hostel for residence of students studying in an educational institution is a non-commercial/non-industrial building and, therefore, such construction is not liable to service tax under Works Contract Services Read More |
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| Bharat Sanchar Nigam Ltd. vs. Commissioner of Central Excise & Service Tax, Indore [2013] 33 taxmann.com 34 (New Delhi - CESTAT)
Cenvat credit on capital goods purchased by HO would be allowed on prorated basis to each unit -ST : In case of centralized purchases of capital goods by Head Office, credit can be allowed to individual units/branch only if Cenvat credit was passed to such unit/branch under proper authorisation and there is no multiple claim by other units Read More |
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| Telecommunications Consultants India Ltd., In re vs. [2013] 33 taxmann.com 31 (CCE - Chennai)
Supervision, management and execution of cable laying and allied works are consulting engineer's services -ST : Services such as supervision, management and execution of cable laying and associated works are consulting engineer's services Read More |
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| ADF Foods Ltd. vs. Commissioner of Central Excise, Ahmedabad - III [2013] 33 taxmann.com 29 (Ahmedabad - CESTAT)
Terminal handling charges are eligible for refund under Notification No. 41/2007 -ST : Where service tax had been paid on 'Terminal Handling Charges' by service provider under 'Port services', which was one of specified services under Notification No. 41/2007-ST, it was eligible for refund under that notification Read More |
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| Kisan Irrigations Ltd. vs. Commissioner of Central Excise, Raigad [2013] 33 taxmann.com 19 (Mumbai - CESTAT)
Security and insurance services are eligible as input services -ST : Any service which has nexus with business activity of assessee, whether it is manufacturing or rendering service, has to be treated as "input service"; hence, security services and insurance services were eligible as input services Read More |
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| Commissioner of Customs, Central Excise & Service Tax, Bhopal vs. Maa Sharda Transport [2013] 33 taxmann.com 18 (New Delhi - CESTAT)
Filling of ash into tankers for transport thereof isn’t covered under ‘Cargo Handling’ service -ST : Filling of ash into bulkers/tankers for transport thereof is ancillary to transportation of goods and is not covered by Cargo Handling Services Read More |
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| FOREIGN COURT |
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| Finanzamt Burgdorf vs. Hans-Georg Fischer [2013] 30 taxmann.com 435 (ECJ)
Cenvat credit to be reversed on capital goods used for private purposes on closure of business -ST/ECJ : In case of capital goods used for private purpose on closure of business, credit reversal is required only if credit was taken on such capital goods; further, if repair work is done thereon prior to such allocation for private use, reversal is required of goods/services used in such repair work Read More |
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| Van Dijk's Boekhuis BV vs. Staatssecretaris van Financiën [2013] 30 taxmann.com 434 (ECJ)
Repair or restoration of goods belonging to customer amounts to 'job-work services' -ST/ECJ : Repairs, even if radical, which simply restore customer's article to its original function without resulting in creation of a new article do not amount to production of goods; they amount of provision of services Read More |
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| Julius Fillibeck Söhne GmbH & Co. KG vs. Finanzamt Neustadt [2013] 30 taxmann.com 433 (ECJ)
Provision of free transport provided to employees for business purposes doesn't amount to a service -ST/ECJ : Provision of free transport facility to employees for business purposes cannot be regarded as 'service' because work done and wages received are independent of use or otherwise of such facility by employees and, hence, a proportion of work performed by employee does not amount to consideration Read More |
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| Heinz Kühne vs. Finanzamt München III [2013] 30 taxmann.com 431 (ECJ)
Cenvat credit taken on goods used for private purposes needs to be reversed -ST/ECJ : In case credit is taken on goods and services used for maintenance, etc., of non-cenvatted capital goods used partially for private purposes, department may seek partial reversal of credit taken on such inputs/input services Read More |
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| Commission of the European Communities vs. Republic of Finland [2013] 30 taxmann.com 430 (ECJ)
Subsidy includible in value of services only if it is granted for specified services -ST/ECJ : Subsidy is included in value of services only if they are given to provide particular services and there is a significant relationship between diminution in price of services and subsidy received Read More |
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| Cookies World Vertriebsgesellschaft mbH iL vs. Finanzlandesdirektion für Tirol [2013] 30 taxmann.com 417 (ECJ)
Letting out a car abroad by a foreign company to an Indian co. isn’t liable to ST in India -ST/ECJ : Place of provision of hiring of car, up to a period of 1 month, by a German undertaking is place of location of service provider viz. Germany and is not chargeable to service tax in India Read More |
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| Danfoss A/S vs. Skatteministeriet [2013] 30 taxmann.com 416 (ECJ)
Canteen facilities provided to employees for private use is provision of service -ST/ECJ : Provision, free of charge, of meals by a company to its staff on its premises for private use of such employees is to be regarded as provision of service to them Read More |
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| NV Nederlandse Spoorwegen vs. Staatssecretaris van Financiën [2013] 30 taxmann.com 415 (ECJ)
In case of cash-on-delivery system, cash collection is a part of 'transport of goods service' -ST/ECJ : In case of transport of goods under cash-on-delivery system, cash collection is a part of transport of goods service and cash-on-delivery commission will be eligible for all abatements/exemptions available to services of transport of goods by road Read More |
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| Laszlo Bakcsi vs. Finanzamt Fürstenfeldbruck [2013] 30 taxmann.com 418 (ECJ)
Payment under rule 3(5) of Cenvat Rules isn’t required for removal of capital goods purchased from a private individual -ST/ECJ : Removal of capital goods purchased by a service provider from a private individual, on which no Cenvat Credit was taken, doesn't attract provisions of rule 3(5) of CENVAT Credit Rules, 2004 Read More |
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| Elliniko Dimosio vs. Maria Karageorgou [2013] 32 taxmann.com 152 (ECJ)
Service provided as an employee isn't chargeable to service tax -ST : Where assessee was working as translator for Ministry of Foreign Affairs and there was an employer-employee relationship between assessee and Ministry, assessee was not liable to service tax on income therefrom Read More |
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| Statutes |
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| NOTIFICATION NO. 10/2013-ST
Service Tax Amnesty Scheme 2013 notified -ST : Section 114 of the Finance Act, 2013 - Service Tax Voluntary Compliance Encouragement Rules, 2013 – Forms VCES-1 (Declaration), VCES-2 and VCES-3 (Acknowledgement), Payment to be Made in Cash as Per ST Rules, 1994 & Registration to Be Taken, If Not Already Held Read More |
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| CIRCULAR NO. 169/4/2013-ST [F.NO.B1/19/2013-TRU]
CBEC clarifies certain issues on Service Tax Amnesty Scheme -ST : Service Tax Voluntary Compliance Encouragement Scheme - CBEC Clarifies Certain Issues – Mere Pendency of Letter Seeking General Information not an Impediment to Person Seeking This Scheme Read More |
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| TRADE NOTICE
Alphanumeric codes of Commissionerates for filing CESTAT Appeal Forms -ST : Section 86 of the Finance Act, 1994 - Appellate Tribunal - Appeals to - Alphanumeric Codes of Commissionerates for filing CESTAT Appeal Forms Read More |
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| CIRCULAR
Malaysian GST Guide on Hire-purchase and Credit Sale -ST : Section 66E(g) of the Finance Act, 1994 Read With Article 366(29A)(C) of The Constitution - Hire Purchase and System of Payment by Instalments - Malaysian GST Guide on Hire-Purchase and Credit Sale Read More |
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| Articles |
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| Bundled services under Negative Service Tax Regime -Bundled services under Negative Service Tax Regime Read More |
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| New regime of service tax: More positives than negatives for hotel industry -New regime of service tax: More positives than negatives for hotel industry Read More |
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| Your Queries on Service Tax -Your Queries on Service Tax Read More |
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| Service tax on restaurants: Whether these render service or make sales? -Service tax on restaurants: Whether these render service or make sales? Read More |
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