| Corporate Laws |
| COMPANY LAWS |
| CLB |
 | [2012] 21 taxmann.com 239 (CLB)
Application for oppression and mismanagement maintainable by member who has paid all calls - CL : Only a member can apply under section 399 provided all calls and other sums due on shares held have been paid Read More
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| SC/HC |
| [2012] 21 taxmann.com 240 (GUJ.)
Winding up petition not barred merely because proceedings instituted by creditor before DRT - CL : Winding up petition would not be barred merely because of proceedings instituted by creditor before DRT Read More
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| [2012] 21 taxmann.com 251 (KAR.)
CL : Where Application for impleadment was allowed in larger interest of justice and for a satisfactory resolution of petition filed under sections 397 and 398 before CLB Read More
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| [2012] 21 taxmann.com 246 (BOM.)
CL : Where respondent-company had raised bona fide and substantial defence in winding up petition filed by petitioner, winding up petition was to be dismissed Read More
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| [2012] 21 taxmann.com 242 (GUJ.)
CL : Where in terms of proposed scheme of amalgamation share broking business of petitioner-company was to merge with its 100 per cent holding company, in view of fact that scheme of amalgamation was in interest of shareholders, creditors as well as general public, same deserved to be accepted Read More
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| [2012] 21 taxmann.com 241 (GUJ.)
CL : Where in terms of proposed scheme of amalgamation, construction business of transferor-Companies was to merge with petitioner i.e. transferee company, in view of fact that all companies were family companies operating under same management and upon merger no interest of their members or public at large was going to be adversely affected, said scheme was to be accepted Read More
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| OTHERS |
| SC/HC |
| [2012] 21 taxmann.com 266 (SC)
NHAI can blacklist delinquent bidders in addition to forfeiting their EMDs - CL : The very authority to enter into contracts conferred under section 3 of the NHA Act, by necessary implication, confers the authority not to enter into a contract in appropriate cases (blacklist) Read More
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| SECURITY EXCHANGE BOARD OF INDIA |
| SAT |
| [2012] 21 taxmann.com 247 (SAT)
SEBI : Orders which are merely procedural cannot be appealed against and it is only those orders or decisions taken by SEBI which adversely affect rights of parties will fall within purview of an appealable order under section 15T Read More
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| Direct Tax Laws |
| ITAT |
| [2012] 21 taxmann.com 257 (DELHI - ITAT)
Absence of claim in TP documents would not be an estoppel in making claim afresh - IT/ILT : Fact that assessee did not make a claim in Transfer Pricing Documentation would not act as an estoppel against assessee Read More
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| [2012] 21 taxmann.com 288 (MUM. - ITAT)
Shifting from rented to owned premise is extension of business, interest exp. attracts disallowance under sec. 36(1)(iii) - IT : Disallowance u/s 36(1)(iii)(proviso) applicable to extension of existing business and not to setting up altogether different or new business Read More
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| [2012] 21 taxmann.com 256 (BANG. - ITAT)
Different approach for similar transaction could not be taken for TP analysis - IT/ILT : Transfer Pricing - Where similar transactions with associated enterprises for subsequent years have been accepted by TPO without any ALP adjustment, he should adopt TP analysis conducted by assessee for relevant assessment year also to be at ALP Read More
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| [2012] 21 taxmann.com 254 (CHD. - ITAT)
IT Inspector not authorized to take statement in survey, if taken it wouldn't have any evidentiary value - IT : Statement recorded by Income-tax Inspector during survey has no evidentiary value and not comparable to evidence gathered during invalid search Read More
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| [2012] 21 taxmann.com 224 (DELHI - ITAT)
VRS is open ended and without any restrictions - IT : All conditions of section 10(10C) read with rule 2BA are not to be read into section 35DDA and therefore, eligibility for deduction under section 35DDA is to be left open-ended without restrictions Read More
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| [2012] 21 taxmann.com 222 (DELHI - ITAT)
Change of address is reasonable cause for non-compliance with sec. 143(2) notice, penalty for same not to be levied - IT : Change of address can be a reasonable cause under section 273B for non-compliance of notice under section 143(2) by assessee, and, therefore, penalty under section 271(1)(b) cannot be imposed Read More
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| [2012] 21 taxmann.com 218 (BANG. - ITAT)
Requirement to pay due taxes, as required in appeal to CIT(A), does not apply when appeal is filed to ITAT - IT : Provisions of section 249(4) relating to filing of appeal before Commissioner (Appeals) could not be read into section 253(1)(b) which relates to filing of appeal before Tribunal Read More
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| SC/HC |
| [2012] 21 taxmann.com 262 (BOM.)
IT : In case of search and seizure, when an amount retained under section 132(5) is found more than amount required to discharge existing liability and total amount of tax plus penalty determined after regular assessment, interest under section 132B(4) is payable on excess amount retained Read More
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| [2012] 21 taxmann.com 267 (BOM.)
Redemption of preference shares, between companies under same management, is not a sham transaction - IT : Redemption of preference shares is "transfer" even if both issuer and subscriber companies are under same management as they are both distinct juridical entities Read More
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| [2012] 21 taxmann.com 255 (SC)
Levy of Stamp Duty on Power of Attorney given to unrelated person is constitutionally valid - Supreme Court - IT : Levy of Stamp Duty at the rate of 2% of value of property transferred by power of attorney is constitutionally valid as held by SC Read More
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| [2012] 20 taxmann.com 655 (KER.)
IT : Credit of tax based on TDS certificates be allowed in respect of interest income in the year in which subject-matter of deduction of tax is assessed Read More
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| [2012] 20 taxmann.com 171 (KAR.)
IT: Expenditure incurred towards communications expenses as well as travelling, boarding and conveyance expenses is to be reduced from total turnover while computing deductions under section 10A Read More
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| [2012] 21 taxmann.com 238 (BOM.)
Trust enjoyed exemption for 50 years, if exemption withdrawn in a year, stay of demand can be granted - IT : When against an assessee, which is a public charitable trust availing tax exemption since 50 years, an assessment order is passed and an appeal is pending before Commissioner (Appeals) before whom serious issues are raised, complete stay of demand is to be granted Read More
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| [2012] 21 taxmann.com 221 (PUNJ. & HAR.)
Unaccounted sale, and not profit on unaccounted sale, is unexplained investment under sec. 69 - IT : It is amount of unaccounted sale and not only profit on unaccounted sale, that is to be added under section 69 as unexplained investment Read More
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| [2012] 21 taxmann.com 150 (PUNJ. & HAR.)
IT : Application of Supreme Court's judgment in Topman Exports v. CIT [2012] 205 Taxman 119/18 taxmann.com 120 Read More
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| Service Tax/GST |
| CESTAT |
| [2012] 21 taxmann.com 245 (MUM. - CESTAT)
ST : Even if services are rendered prior to 3-3-2009 but recipient has paid service tax on or after 3-3-2009, he can avail service tax refund as provided under Notification No. 9/2009-ST, dated 3-3-2009 Read More
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| [2012] 21 taxmann.com 243 (NEW DELHI - CESTAT)
ST : Where pay loaders were let out by assessee to discharge its main obligation of loading of coal within mining area, no service tax would be demanded from assessee under head 'Cargo handling service' Read More
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| SC/HC |
| [2012] 21 taxmann.com 244 (AP)
ST : Where Tribunal after taking into consideration benefit of abatement of taxable value available to assessee, partly granted waiver of pre-deposit requirement, said order could not be interfered with Read More
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| [2012] 21 taxmann.com 220 (SC)
SLP dismissed without reasoning, 'Doctrine of Merger' not applied to HC ruling and can be reviewed independently - ST : When a special leave petition is dismissed without giving any reason, there is no merger of judgment of High Court with order of Supreme Court and judgment of High Court can be reviewed Read More
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| [2012] 21 taxmann.com 219 (KAR.)
Leasing of self-constructed telecom towers are liable to VAT nonetheless the control thereof is not transferred - VAT: Where assessee erected and constructed tower sites and leased out same to various telecom operators and in terms of agreement maintenance and overall control of towers and equipments was with assessee, it was liable to VAT on such transaction Read More
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