Direct Tax Laws |
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| SC/HC |
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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, 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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| 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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| 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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| Commissioner of Income-tax-XI vs. Delhi Housing & Finance Corporation [2013] 33 taxmann.com 11 (Delhi)
Circle rates of properties to be adopted for calculation of cap gains in absence of other reliable valuations -IT : In absence of reliable valuation, circle rates of property is to be adopted Read More |
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| Commissioner of Income-tax - II, Pune vs. Patni Computer Systems Ltd. [2013] 33 taxmann.com 3 (Bombay)
Losses incurred by foreign branch can be set off against other income of HO taxable in India -IT/ILT: Losses incurred by foreign Sweden branch could be set off against other income Read More |
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| Commissioner of Income-tax - III vs. Panchmahal Steel Ltd. [2013] 33 taxmann.com 10 (Gujarat)
Losses on cancellation of forward contract aren’t speculative losses; to be allowed as revenue exp. -IT : Loss incurred on account of cancellation of forward contract could not be regarded as speculative loss under section 43(5) Read More |
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| Commissioner of Income-tax vs. Infosys Technologies Ltd. [2013] 32 taxmann.com 399 (Karnataka)
HC remands the case to decide the exclusion of expenditure from the turnover for sec. 80HHE deduction -IT : Where Tribunal while directing exclusion of expenditure incurred by assessee abroad on activities other than marketing activities from 'export turnover' and 'total turnover' did not give its finding as to whether assessee's activity related to first part of sub-section (1) of section 80HHE or second part thereof, impugned order was to be set aside and, matter was to be remanded back for disposal afresh Read More |
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| Marubeni India (P.) Ltd. vs. Director of Income-tax [2013] 33 taxmann.com 100 (Delhi)
If assessee isn’t remunerated on markup basis, exp. on closure of Indian units to be excluded from 'operating cost' -IT/ILT: As assessee was being compensated by AE by way of a fee or commission which had no connection with the costs incurred, the payment of compensation made to the Indian units on their closure would represent abnormal costs which had to be excluded in the determination of the ALP of international transaction Read More |
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| Commissioner of Income-tax -II vs. Medical Technologies Ltd. [2013] 32 taxmann.com 386 (Gujarat)
Commission paid for business contracts is allowable if it is approved by BOD and offered to tax by recipient -IT: Where assessee made payment of commission to 'M' for procuring orders of medical equipment and said payment was duly approved by its board of directors, assessee's claim for deduction in respect of same was to be allowed Read More |
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| J.K. Synthetics Ltd. vs. Commissioner of Income-tax (Central), Kanpur [2013] 32 taxmann.com 385 (Allahabad)
Penalty proceedings not proposed in draft assessment order can be cited in regular assessment -IT : Where Assessing Officer in draft assessment order passed under section 144B had not proposed levy of penalty under section 273(2)(a) upon assessee and subsequently while passing regular assessment order initiated proceedings for levy of penalty upon assessee, penalty proceedings could not be quashed on ground that no such proceedings were proposed in draft assessment order Read More |
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| Commissioner of Income-tax - I, Jaipur vs. A.L. Lalpuria Construction (P.) Ltd. [2013] 32 taxmann.com 384 (Rajasthan)
Unverified oral statement of a third party isn’t enough to sustain additions for cash credits -IT : Addition on account of accommodation entry cannot be made on basis of unconfronted oral statement of third party Read More |
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| Pace Developers & Promoters (P.) Ltd. vs. Government of NCT Through its Secretary [2013] 33 taxmann.com 99 (Delhi)
Properties can be sold on power of attorney; SC’s observation in Suraj lamp’s case not applied to genuine transactions -IT : The observations of the Supreme Court in the case of Suraj Lamp are not intended to be applied to the cases of genuine transactions of transfer of immovable property through GPA. As long as the transactions are genuine, the sub-registrar cannot deny to register the GPA and Will Read More |
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| Commissioner of Income-tax-II, Ahmedabad vs. Mastek Ltd. [2013] 32 taxmann.com 380 (SC)
HC can't be nixed from framing questions of law on matters on which appeal has been admitted, SC says -IT : High Court has power to frame substantial questions of law other than questions on which appeal has been admitted Read More |
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| Commissioner of Income-tax-I vs. N.J. India Invest (P.) Ltd. [2013] 32 taxmann.com 367 (Gujarat)
Exp. on software development and upgradation of hardware is revenue in nature -IT : Expenditure on maintenance, back-up and support services to existing hardware and software is revenue in nature Read More |
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| Blessing Construction vs. Income-tax Officer [2013] 32 taxmann.com 366 (Gujarat)
HC upheld sec. 68 additions as cash was deposited by assessee in borrower's a/c to prove their creditworthiness -IT : Where sizeable amounts were deposited in cash in account of depositors only before their withdrawal through cheques in favour of assessee, addition was justified Read More |
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| Commissioner of Income-tax-IV vs. Sambhav Media Ltd. [2013] 32 taxmann.com 371 (Gujarat)
No concealment penalty if bona fide dispute existed on acceptability of claim, HC favours assessee -IT : In matter of bona fide difference of opinion between assessee and department regarding allowability of claim, no penalty leviable Read More |
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| Commissioner of Income-tax vs. Titan Securities Ltd. [2013] 32 taxmann.com 306 (Delhi)
Deletion of unexplained share application money isn’t justified if identity of subscribers isn’t examined -IT : Where Assessing Officer found that share applicants in case of assessee-company were established entry operators giving accommodation entries and, thus, he added amount paid by them to assessee's taxable income, Tribunal was not justified in deleting said addition without properly examining evidence brought on record by Assessing Officer Read More |
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| ITAT |
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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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| Pooja Industries vs. Income-tax Officer, Ward - 1, Solan [2013] 33 taxmann.com 30 (Chandigarh - Trib.)
No sec. 80-IC deduction for flour making no matter by conventional or advance technique -IT : It is production of flour/rice through flour mill/rice mill which is barrred from entitlement under section 80-IC, and, it is immaterial whether flour mill producing flour is an ordinary chakki or a roller flour mill 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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| Laj Exports vs. Deputy Commissioner of Income-tax [2013] 33 taxmann.com 57 (Chandigarh - Trib.)
Conceivable view taken by AO while allowing assessee’s claim can’t be a matter of review under Sec. 263 -IT : Where order of Assessing Officer allowing Keyman insurance charges paid by assessee on lives of its partners was based on plausible view, said view was not open for review by Commissioner under section 263 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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| Urban Improvement Trust vs. Commissioner of Income-tax, Bikaner [2013] 33 taxmann.com 58 (Jodhpur - Trib.)
Trust to be crowned with sec. 12A registration if its main objects were to develop general public utilities -IT : Where main objects of assessee-trust were to construct roads, provide water and electricity facility, to construct drainage system etc., which were in nature of general public utility, assessee was entitled for registration under section 12A 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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| KPMG vs. Joint Commissioner of Income-tax, Range-11(2) [2013] 33 taxmann.com 23 (Mumbai - Trib.)
Actual payment of tax isn’t a pre-condition to be a resident of partner country, as per India-UAE DTAA -IT/ILT : As per Article 4(1) of Indo-UAE DTAA, to be a resident of contracting State, it is not necessary to pay tax there; mere right of contracting State to tax such person by reason of domicile, place of management or incorporation is sufficient 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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| J.B. Estates vs. Income-tax Officer, Ward 5(1), Hyderabad [2013] 33 taxmann.com 35 (Hyderabad - Trib.)
Rental income from building constructed by assessee on a leasehold land is income from house property -IT : Where assessee having taken land on lease, constructed a building thereon and let it out on hire, assessee being owner of said building, rental income received by it was to be taxed as 'Income from house property' 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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| Bhatnagar Opticals vs. Income-tax Officer, Ward 2(1), Gwalior [2013] 33 taxmann.com 9 (Agra - Trib.)
Firm slammed with disallowance for remuneration paid to partners as best judgment assessment was concluded -IT : If assessee firm fails to comply with provisions of section 144, no deduction by way of salary or remuneration paid to partners will be allowable Read More |
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| Glaxo Smithkine Asia (P.) Ltd. vs. Assistant Commissioner of Income-tax ( LTU) [2013] 33 taxmann.com 22 (Delhi - Trib.)
Delhi ITAT sets aside Dispute Resolution Panel’s non-speaking order -IT/ILT : Where Dispute Resolution Panel passed a non-speaking order without applying mind and discussing objections of assessee, order was to be set aside Read More |
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| Assistant Commissioner of Income-tax, Circle-3, Jodhpur vs. Mahendra Kumar Bohra [2013] 33 taxmann.com 8 (Jodhpur - Trib.)
Instruction No. 3/2011 specifying minimum tax effect for filing an appeal has retro effect -IT : CBDT Instruction No. 3 of 2011, dated 9-2-2011 by which CBDT has revised monetary tax limit to Rs. 3 lakh for filing appeal before Tribunal would also be applicable to pending cases also Read More |
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| Deputy Commissioner of Income-tax, Circle 11(4), Bangalore vs. Indus Fila Ltd. [2013] 32 taxmann.com 382 (Bangalore - Trib.)
Appointed date under scheme of amalgamation is sacrosanct once HC approves of it; AO can’t question it -IT : Where a company had decided to merge with assessee-company and in scheme of amalgamation appointed day was fixed as 31-3-2008 and further High Court had sanctioned scheme of amalgamation as proposed without any change, amalgamation was deemed to have been effected on 31-3-2008 and Assessing Officer had no jurisdiction to question appointed day fixed under scheme of amalgamation Read More |
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| Saraswati Housing & Developers vs. Additional Commissioner of Income-tax, Range-2 [2013] 32 taxmann.com 307 (Delhi - Trib.)
No disallowance if payment is made in cash before sub-registrar in remote areas for purchase of agriculture land -IT : Where assessee made payments to sellers of agricultural land in cash in presence of Sub-Registrar at those places where banking facilities were not available, said payments were covered under second proviso to section 40A(3) and rule 6DD(h) Read More |
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| Nomura Fin Services ( India) (P.) Ltd. vs. Assistant Commissioner of Income-tax, Circle, 10(3) [2013] 33 taxmann.com 4 (Mumbai - Trib.)
Entities outsourcing their activities can't be taken as comparables if assessee is carrying its own activities -IT/ILT : Where assessee-company itself provided IT enabled services, company outsourcing its activities could not be taken as comparable for computing arm's length price Read More |
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| Income-tax Officer, Ward-2, Sawai Madhopur vs. Nardev Kumar Gupta [2013] 32 taxmann.com 388 (Jaipur - Trib.)
No sec. 40A(3) disallowance separately if income is determined on estimation basis on rejection of books -IT: When income is assessed by estimating profit after rejection of books of account under section 145(3), no disallowance can be made separately under section 40A(3) Read More |
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| Income-tax Officer, Ward-3(3) vs. Smt. Saraswati Devi Gehlot [2013] 32 taxmann.com 387 (Jodhpur - Trib.)
Instruction No. 3/2011 specifying minimum tax effect for filing of an appeal to be applied retrospectively -IT : Where tax effect in revenue's appeal was less than Rs. 3 lakhs, appeal before Tribunal was not maintainable Read More |
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| Deputy Commissioner of Income-tax-8(1) vs. Genesys International Corporation Ltd. [2013] 32 taxmann.com 372 (Mumbai - Trib.)
No concealment penalty if disclosures were made for inclusion of unrealized export proceeds in sec. 10A benefit -IT: Where assessee made adequate disclosure regarding unrealized export proceeds while claiming exemption under section 10A, penalty under section 271(1)(c) could not be imposed Read More |
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| Linkwell Telesystems (P.) Ltd. vs. Additional Commissioner of Income-tax, Range - 16, Hyderabad [2013] 32 taxmann.com 369 (Hyderabad - Trib.)
Order of AO not supported by examination of claim are prone to CIT's revisionary power under sec. 263 -IT : Where Assessing Officer passed order without applying his mind by simply accepting what was stated in return without making enquiries or examining genuineness of claim, it was erroneous and prejudicial to interests of revenue and could be revised by Commissioner under section 263 Read More |
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| Project Management Institute vs. Director of Income-tax (Exemption), Hyderabad [2013] 32 taxmann.com 368 (Hyderabad - Trib.)
If DIT failed to prove how activities of trust became non-genuine, its registration couldn't be revoked -IT : Where Director (Exemption) nowhere in order specified how activities of trust/institution were not genuine or not being carried out in accordance with objects of trust, cancellation of registration on reason that assessee's activities were in violation of objects of society could not be considered as a valid ground for cancellation of registration in terms of section 12AA(3) Read More |
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| Mohan Balakrishnan vs. Deputy Commissioner of Income-tax, 14, Ahmedabad [2013] 32 taxmann.com 308 (Ahmedabad - Trib.)
Salary from Polish Co. as reduced by tax deducted at source in Poland is taxable in India -IT/ILT : Assessee having received salary from Poland company, was liable to tax with respect to net income i.e., which it had received after deduction of tax from Poland company Read More |
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| Pawan Kumar Jain vs. Deputy Commissioner of Income-tax -24(2) Mumbai [2013] 32 taxmann.com 378 (Mumbai - Trib.)
Time-limit for rectification of order under sec. 254(2) begins with date of its communication -IT : For purpose of filing application under section 254(2), period of limitation would start from point of time when said order is communicated to assessee and not from date of passing order Read More |
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| Mali Florex Ltd. vs. Deputy Commissioner of Income-tax [2013] 32 taxmann.com 373 (Hyderabad - Trib.)
Business exp. on commercial lines couldn't be disallowed even if it wasn't taxed in hands of recipient -IT : Where assessee received only a meagre amount out of sale consideration and had not parted with possession of property, transaction could not be treated as transfer within meaning of section 2(47) Read More |
| | |
| Dresdner Bank AG vs. Assistant Director of Income-tax (International Taxation), Circle-1(2) [2013] 32 taxmann.com 305 (Mumbai - Trib.)
Interest accrued by NR-banking Co. in its books can’t be taxed, unless it falls due during the relevant year -IT/ILT : Where non-resident banking company credited in its books, income from interest on securities on day-to-day accrual basis, which had not become due for payment during previous year, said interest did not constitute income of assessee for the year Read More |
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| Statutes |
| | |
| CORRIGENDUM [NO. 2A/2011 [F.NO. V- 27015/5/2011-SO
Recognition of Rewachand Bhojwani Foundation for sec. 35AC extended up to Financial Year 2014-15 -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Corrigendum to Notification No. 2/2012 [S.O. 406(E)], Dated 9-3-2012 Read More |
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| NOTIFICATION NO. 141/2012 [F.NO. V-27015/4/2012-SO
Extension of period and enhancement in approved cost for eligible project Impact India Foundation -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes – Impact India Foundation, Mumbai Read More |
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| NOTIFICATION NO. 138/2012 [F.NO. V- 27015/4/2012-S
Recognition for specified project of The Himalayan School Society under sec. 35AC extended up to F/Y 2014-15 -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - The Himalayan School Society, Uttaranchal Read More |
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| NOTIFICATION NO. 137/2012 [F.NO. V- 27015/4/2012-S
Recognition for specified project of Niskam Sikh Welfare Council under sec. 35AC extended up to F/Y 2014-15 -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Niskam Sikh Welfare Council, New Delhi Read More |
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| NOTIFICATION NO. 133/2012 [F.NO. V- 27015/4/2012-S
The cost of projects carried out by CRY further enhanced for purpose of sec. 35AC -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Cry, New Delhi Read More |
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| NOTIFICATION NO. 123/2012 [F.NO. V- 27015/4/2012-S
Cost of projects carried out by Shantilal Shanghvi Foundation further enhanced for the purpose of sec. 35AC -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Shantilal Shanghvi Foundation, Mumbai Read More |
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| NOTIFICATION NO. 139/2012 [F.NO. V- 27015/4/2012-S
Recognition for specified project of Guru Nanak Quin Centenary Hospital under sec. 35AC extended up to F/Y 2014-15 -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on – Notified Eligible Projects or Schemes - Guru Nanak Quin Centenary Memorial Hospital Trust, Mumbai Read More |
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| NOTIFICATION NO. 126/2012 [F.NO. V- 27015/4/2012-S
Recognition for specified project of Shri Ramana Academy of Blind under sec. 35AC extended up to F/Y 2015-16 -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Shri Ramana Maharishi Academy of The Blind, Bangalore Read More |
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| NOTIFICATION NO. 125/2012 [F.NO. V- 27015/4/2012-S
Recognition for specified project of Sri Venkateshwara Pranadana Trust under sec. 35AC extended up to F/Y 2015-16 -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on – Notified Eligible Projects or Schemes - Sri Venkateswara Pranadana Trust, Andhra Pradesh Read More |
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| NOTIFICATION NO. 124/2012 [F.NO. V- 27015/4/2012-S
Recognition for specified project of The Bombay Community Public Trust under sec. 35AC extended up to F/Y 2014-15 -IT : Section 35AC, Read With Explanation (b) Thereto of the Income-Tax Act, 1961 - Eligible Projects or Schemes, Expenditure on – Notified Eligible Projects or Schemes – The Bombay Community Public Trust, Mumbai Read More |
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| Articles |
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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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| Delhi High Court lauds computerization but issues 7 mandamuses for addressing taxpayers' grievances -Delhi High Court lauds computerization but issues 7 mandamuses for addressing taxpayers' grievances Read More |
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| Physical structure of new houses isn't impediment to section 54/54F deduction -Physical structure of new houses isn't impediment to section 54/54F deduction Read More |
| | |
| News |
| | |
| 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 |
| | |
| 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 |
| | |
| 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 |
| | |
| Green signal for conciliation in Vodafone tax dispute -Green signal for conciliation in Vodafone tax dispute [15-05-2013] Read More |
| | |
| 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 |
| | |
| 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 |
| | |
| 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 |
| | |
| I-T looks at global practices on transfer pricing -I-T looks at global practices on transfer pricing [11-05-2013] Read More |
| | |
| 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 |
| | |
| 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 |
| | |
| States Push for Common Exempt List Under GST -States Push for Common Exempt List Under GST [11-05-2013] Read More |
| | |
| Offer Maturity Benefits on Micro-policies, Says Irda -Offer Maturity Benefits on Micro-policies, Says Irda [11-05-2013] Read More |
| | |
| Markets may See a Flurry of Share -Markets may See a Flurry of Share [11-05-2013] Read More |
| | |
| Pay More Service Tax on House Over 1 -Pay More Service Tax on House Over 1 [10-05-2013] Read More |
| | |
| Finland seeks settlement of Nokia tax dispute -Finland seeks settlement of Nokia tax dispute [09-05-2013] Read More |
| | |
| BMW India faces Rs.650- cr Customs blow -BMW India faces Rs.650- cr Customs blow [09-05-2013] Read More |
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| Tax treaties not to provide I-T return leeway anymore -Tax treaties not to provide I-T return leeway anymore [09-05-2013] Read More |
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| No discrimination if rate is correct -No discrimination if rate is correct [06-05-2013] Read More |
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| I-T dept detects unaccounted assets -I-T dept detects unaccounted assets [06-05-2013] Read More |
| | |
| I-T dept alleges tax evasion in Purti group transactions -I-T dept alleges tax evasion in Purti group transactions [06-05-2013] Read More |
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| Lower interest rates likely to keep investors away from tax- free bonds -Lower interest rates likely to keep investors away from tax- free bonds [06-05-2013] Read More |
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Corporate Laws |
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| SC/HC |
| | |
| 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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| V.K. Prakas vs. Union of India [2013] 32 taxmann.com 400 (Kerala)
SEBI has power to issue Circular dated 30-6-2009 barring mutual funds from charging entry load -SEBI : SEBI has power to issue Circular dated 30-6-2009 barring mutual funds from charging entry load Read More |
| | |
| Lakshmiji Sugar Mills Company vs. Union of India [2013] 32 taxmann.com 309 (Delhi)
Co. judge justified in excluding secured creditors from revival scheme formed for benefit of unsecured creditors -CL : Where appellant-company in a scheme of arrangement had discriminated in payments made to secured creditors, Govt. company whose payments had been reduced was to be excluded from purview of scheme 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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| Yogesh Ganeshlaji Somani vs. Zee Turner Ltd. [2013] 33 taxmann.com 2 (CCI)
Distribution of channels and their pricing regulated by TRAI; making JV for such purpose isn’t anti-competitive -Competition Act : Where distribution of channels and their pricing by broadcasters/aggregators is totally regulated due to TRAI Regulations and market share of joint venture (JV) formed by opposite parties - channel owners was only 10 per cent, opposite parties had not contravened sections 3 and 4 by forming JV for distribution of channels Read More |
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| SAT |
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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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| Mrs. Ramkishori Gupta vs. Securities and Exchange Board of India [2013] 33 taxmann.com 150 (SAT - Mumbai)
SEBI has no jurisdiction to grant compensation for loss suffered by investor on trading in shares -SEBI : There is no directive or mandate empowering SEBI to undertake task of considering and granting compensation to an investor for alleged losses he might have suffered due to certain misleading or fraudulent advertisements by a company Read More |
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| Statutes |
| | |
| 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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| 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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| 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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| NOTIFICATION NO. SO 935(E) [F. 2/472/2006-SEZ]
Central Government notifies 17.08 hectares of SEZ for Parsvnath Infra Limited in Kerala -SEZ : Section 4 of the Special Economic Zones Act, 2005 - Parsvnath Infra Ltd. Read More |
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| NOTIFICATION NO. SO 987(E) [F.NO.5/37/2012-CS]
Central Govt. appoints S.L. Bunker as member of the Competition Commission of India -CL : Section 8, Read With Section 10 of the Competition Act, 2002 - Competition Commission of India - Composition of Commission - Notified Member Read More |
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| NOTIFICATION NO. SO 631 (E) [F. NO. F/1/15/2011-SE
Central Government notifies 1,840 hectares of SEZ for Adani Ports at Kucth, Gujarat -SEZ : Section 4 of the Special Economic Zones Act, 2005 - Adani Ports and Special Economic Zone Ltd. Read More |
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| NOTIFICATION NO.SO 2806(E) [F.NO.F.1/11/2012-SEZ]
Central Government notifies 17.712 hectares of SEZ for Electronics Technology Parks - Kerala -SEZ : Section 4 of the Special Economic Zones Act, 2005 - Electronics Technology Parks-Kerala Read More |
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| A.P. (DIR SERIES 2012-13) CIRCULAR NO. 102
Indian agents under MTSS to follow statement on Anti-Money Laundering and Combating of Financing of Terrorism -FEMA : Anti-Money Laundering (AML) Standards/Combating the Financing of Terrorism (CFT) Standards - Cross Border Inward Remittance under Money Transfer Service Scheme Read More |
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| A.P. (DIR SERIES 2012-13) CIRCULAR NO. 101
RBI’s instructions to APs for Anti-Money Laundering and Combating of Financing of Terrorism -FEMA : Anti-Money Laundering (AML) Standards/Combating the Financing of Terrorism (CFT) Standards - Money Changing Activities Read More |
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| NOTIFICATION NO. LAD-NRO/GN/2012-13/22/5429
Amendment to SEBI (Employees’ Service) Regulations, 2001 -SEBI : SEBI (Employees' Service) (Second Amendment) Regulations, 2012 - Amendment in Regulation 16 Read More |
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| CIRCULAR DNBS (PD).CC. NO. 324/03.10.42 /2012-13
NBFCs directed to update list of persons connected with Al-Qaida and to keep a watch on it while opening new a/c -NBFC : Implementation of Section 51-A of UAPA, 1967 - Updates of the UNSCR 1267 (1999)/1989 (2011) Committee's Al-Qaida Sanctions List and Consolidated List Read More |
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| NOTIFICATION NO.SO 651(E) [F.NO.F.1/18/2011-SEZ]
Central Government notifies 11.51 hectares of SEZ for SEZ Bio-Tech Services Private Ltd. -SEZ : Section 4 of the Special Economic Zones Act, 2005 - SEZ Bio-Tech Services Pvt. Ltd. Read More |
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| NOTIFICATION NO. SO 512 (E) [F. NO. F./1/26/2010-S
Central Government notifies 19.53 hectares of SEZ for Wipro Ltd. -SEZ : Section 4 of the Special Economic Zones Act 2005 - Wipro Limited Read More |
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| News |
| | |
| 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 |
| | |
| FinMin okays 8.5% PF rate for FY13 -FinMin okays 8.5% PF rate for FY13 [16-05-2013] Read More |
| | |
| Inflation- indexed bonds from next month -Inflation- indexed bonds from next month [16-05-2013] Read More |
| | |
| 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 |
| | |
| 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 |
| | |
| Reserve Bank Restricts Gold Import By Banks -Reserve Bank Restricts Gold Import By Banks [14-05-2013] Read More |
| | |
| Trade Deficit Widens on Huge Gold Imports -Trade Deficit Widens on Huge Gold Imports [14-05-2013] Read More |
| | |
| 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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| Passbook for PF Account Holders -Passbook for PF Account Holders [09-05-2013] Read More |
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| First Meeting of High-Level Inter-Ministerial Group Constituted for Proper Enforcement of Regulatory Framework -First Meeting of High-Level Inter-Ministerial Group Constituted for Proper Enforcement of Regulatory Framework [09-05-2013] Read More |
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| NSE may launch debt segment on Monday -NSE may launch debt segment on Monday [09-05-2013] Read More |
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| RBI’s curbs set to cut gold imports by a tenth -RBI’s curbs set to cut gold imports by a tenth [09-05-2013] Read More |
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| Govt approves National Cyber Security Policy -Govt approves National Cyber Security Policy [09-05-2013] Read More |
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| New guidelines for banks doing insurance broking -New guidelines for banks doing insurance broking [09-05-2013] Read More |
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| It is govt’s job to check money laundering: RBI -It is govt’s job to check money laundering: RBI [09-05-2013] Read More |
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| Securitisation to Turn Costlier for Banks with new Distribution Tax -Securitisation to Turn Costlier for Banks with new Distribution Tax [09-05-2013] Read More |
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| Incentives Given for Business Units in SEZs -Incentives Given for Business Units in SEZs [08-05-2013] Read More |
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| HDFC Life Keen to Buy Out Rivals -HDFC Life Keen to Buy Out Rivals [08-05-2013] Read More |
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| RBI panel suggests setting up of common bill payment system -RBI panel suggests setting up of common bill payment system [08-05-2013] Read More |
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| RBI to issue clarifications on new bank licence norms -RBI to issue clarifications on new bank licence norms [08-05-2013] Read More |
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| Govt okays FDI proposals worth Rs.262.56 cr -Govt okays FDI proposals worth Rs.262.56 cr [08-05-2013] Read More |
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| Proposal to limit state tax on cell phones, tablets -Proposal to limit state tax on cell phones, tablets [08-05-2013] Read More |
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| Action Taken in Cases of Corporate Frauds -Action Taken in Cases of Corporate Frauds [07-05-2013] Read More |
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| Detection of Corporate Frauds -Detection of Corporate Frauds [07-05-2013] Read More |
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| Government Asks CMDS of PSBs and LIC to Initiate Immediate Action Against those Exposed by Cobrapost, Red Spider -Government Asks CMDS of PSBs and LIC to Initiate Immediate Action Against those Exposed by Cobrapost, Red Spider [07-05-2013] Read More |
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| Fair Trade Practices by Companies -Fair Trade Practices by Companies [07-05-2013] Read More |
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| SAT asks Sebi to probe misleading ads -SAT asks Sebi to probe misleading ads [07-05-2013] Read More |
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| Telcos non- compliant with billing norms: Trai -Telcos non- compliant with billing norms: Trai [07-05-2013] Read More |
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| RBI To Use All Means to Manage Liquidity -RBI To Use All Means to Manage Liquidity [07-05-2013] Read More |
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| Telecom Marriages to Face Costly Pre-Nup DoT Norm -Telecom Marriages to Face Costly Pre-Nup DoT Norm [07-05-2013] Read More |
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| ‘Puffing up’ in ads permissible -‘Puffing up’ in ads permissible [06-05-2013] Read More |
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| Court can override contract -Court can override contract [06-05-2013] Read More |
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| Stock exchange loses suit -Stock exchange loses suit [06-05-2013] Read More |
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| SC tweaks compensation package -SC tweaks compensation package [06-05-2013] Read More |
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| Revamped EPCG scheme may take sheen off SEZs -Revamped EPCG scheme may take sheen off SEZs [06-05-2013] Read More |
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| Foreign investors betting big on Indian consumers -Foreign investors betting big on Indian consumers [06-05-2013] Read More |
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Service Tax Laws |
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| SC/HC |
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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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| Commissioner of Central Excise, Kanpur vs. Ufan Chemicals [2013] 32 taxmann.com 389 (Allahabad)
Authorization to file appeal before Tribunal isn’t invalid even if signed on different dates by Commissioners -ST : In absence of any statutory rules providing that Committee of Commissioners/Chief Commissioners will sit on same day at same time and take a decision authorising a Central Excise Officer to file appeal, authorization signed on different dates cannot be held invalid, if it is passed after application of mind Read More |
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| Sercon India (P.) Ltd. vs. Commissioner (Adjudication), Service Tax [2013] 32 taxmann.com 390 (Delhi)
Reimbursements aren’t liable to service tax, Delhi HC vindicates assessee’s view point -ST : Prima facie, service tax is not leviable on reimbursable expenditure in view of Intercontinental Consultants & Technocrats Pvt. Ltd.'s case Read More |
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| Khalil Thakur, Managing Partner vs. Customs Excise and Service Tax Appellate Tribunal [2013] 32 taxmann.com 391 (Kerala)
Writ not maintainable if appeal rejected by the Tribunal due to default in pre-deposit order -ST : Where assessee had not complied with pre-deposit order of Tribunal and appeal had been dismissed thereby, it was not a fit case to call for interference invoking discretionary jurisdiction available under article 226 of Constitution Read More |
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| Gopinath & Sharma vs. Customs, Excise & Service Tax Appellate Tribunal [2013] 32 taxmann.com 377 (Madras)
Commissioner (Appeals) can't condone delay beyond permissible period under sec. 85 -ST : Where appeal was received in office of Commissioner (Appeals) after expiry of three months plus discretionary period of three months, Commissioner (Appeals) had no power to condone delay Read More |
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| CESTAT/CCE |
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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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| Shree Dhar Industries vs. Commissioner of Central Excise, Jaipur-I [2013] 32 taxmann.com 393 (New Delhi - CESTAT)
No penalty for delay in furnishing info to department, if service of letter seeking such info is doubtful -ST : Where there was doubt about of service of letters seeking information from assessee, assessee could not be penalized under section 77(1)(c) for furnishing information belatedly Read More |
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| Quality Builders & Contracts vs. Commissioner of Central Excise, Jaipur-II [2013] 32 taxmann.com 392 (New Delhi - CESTAT)
Adjudication cannot be confirmed without examining evidences and terms of contract -ST : Where adjudicating authority confirmed adjudication without analyzing contract but by simply analyzing law and coming to conclusion, such an act was not permissible under law and matter was to be remanded back. Read More |
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| Bajaj Hindustan Ltd. vs. Commissioner of Central Excise, Lucknow [2013] 32 taxmann.com 375 (New Delhi - CESTAT)
Angles, channels, plates, etc., used in fabrication of sugar mill machinery are capital goods -ST : MS Angles, Channels, Plates, Joists, GP Sheets etc., which were used in fabrication of sugar mill machinery, are eligible for Cenvat credit as capital goods Read More |
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| DCM Shriram Consolidate Ltd. vs. Commissioner of Central Excise, Jaipur [2013] 32 taxmann.com 376 (New Delhi - CESTAT)
Hiring of machines for getting raw materials is an input service -ST : Hiring of machine for uprooting trees to make charcoal for use in manufacture of calcium carbide is an input service Read More |
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| A.B.R. Petro Products Ltd. vs. Commissioner of Central Excise, Allahabad [2013] 32 taxmann.com 316 (New Delhi - CESTAT)
No proceedings to be initiated against assessee if he has paid ST along with interest suo-motu -ST : If there was no contumacious conduct on part of assessee and he has, on his own ascertainment, paid tax with interest and informed such fact to Department, no proceedings can be continued against assessee Read More |
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| Commissioner of Central Excise, Indore vs. Jas Enterprises [2013] 32 taxmann.com 374 (New Delhi - CESTAT) (TM)
Extended period isn't invokable on issues capable of different interpretations -ST : Exemption under Notification No. 21/2004-ST is not available to services provided by an outdoor caterer, if 'such caterer' is not located within premises of any academic institution; though he may have hired a place within such academic institution Read More |
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| Addtech Packaging (P.) Ltd. vs. Commissioner of Central Excise, Vapi [2013] 32 taxmann.com 315 (Ahmedabad - CESTAT)
Matter remanded to decide whether inputs were delivered by courier or through a transport agency -ST : Since issue involved 'whether inputs which were delivered in factory premises were delivered by courier agency or by a transport agency' needed factual examination, matter was remanded back to adjudicating authority Read More |
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| FOREIGN COURT |
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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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| Genius Holding BV vs. Staatssecretaris van Financiën [2013] 32 taxmann.com 142 (ECJ)
Service recipient can’t claim credit of ST paid if it isn’t due -ST/ECJ : Right to credit may be exercised only in respect of taxes actually due ; Cenvat credit cannot be claimed in respect of : (1) tax paid higher than that legally due or (2) tax paid on a transaction, which is not subject to service tax Read More |
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| Staatssecretaris Van Financien vs. Stadeco BV [2013] 32 taxmann.com 137 (ECJ)
Tax collected on non-taxable services is to be paid to CG under section 73A -ST/ECJ : As per section 73A, assessee was liable to pay tax collected by it, even if services in question were not chargeable to service tax Read More |
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| Commission of the European Communities vs. Ireland [2013] 30 taxmann.com 234 (ECJ)
Support services provided by local authorities to business entity are liable to ST -ST/ECJ : Support services by way of off-street parking or other facilities provided by local authorities to any business entity would be liable to service tax 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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| NOTIFICATION NO. 9/2013-ST
Abatement in case of construction services, revised -ST : Section 66E(b) of the Finance Act, 1994 - Declared Services - Construction Services - Abatement Reduced to 70% for : (A) Commercial Units, (B) Residential Units Having Carpet Area 2,000 Sq. Ft. or More & (C) Residential Units Priced Rs. 1 Crore or More Read More |
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| CIRCULAR NO. 969/03/2013-CX
Amendment in CESTAT appeal forms -ST : Amendment to CESTAT Appeal Forms Read More |
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| Articles |
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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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| Electricity supplied free of cost by customers whether includible in value of services provided by maintenance service provider -Electricity supplied free of cost by customers whether includible in value of services provided by maintenance service provider Read More |
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