"17 November 2015" Archive

SCN cannot be issued to debtors until tax liability crystallise – HC

M/s Quality Fabricators and Erectors Vs The Deputy Director, DGCEI, Zonal Unit Mumbai and Others (High Court of Bombay)

The Petitioner is carrying on business of fabrication and erection of plants, structures etc. The Petitioner undertakes the projects on turn key basis as well as on work contract basis. The Petitioner has been registered as an assessee with the Service Tax Department since 2008....

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Incentive paid by BSNL to its franchisee is a trade discount not commission liable to TDS

ITO Vs General Manager Bharat Sanchar Nigam Ltd (ITAT Hyderabad)

ITAT held in ITO Vs General Manager Bharat Sanchar Nigam Ltd that the incentive offered by the BSNL to its franchisee was in the nature of trade discount not in the nature of commission because after the payment made by the franchisee to the BSNL all risks and rewards relate to the franchisee. ...

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Adjudicating Authority can reject transaction value if assessee fails to prove that relationship had not influenced price

Ansaldo STS Transportation Systems India Pvt. Ltd. Vs Commissioner of Customs (CESTAT Chennai)

The CESTAT Chennai in the case of Ansaldo STS Transportation Systems India Pvt. Ltd vs. Commissioner of Customs, Chennai held that if the importer had entered into transaction with related persons and failed to prove that the price had not been influenced by the relationship ...

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Processes carried on imported gensets resulting into creation of functional and more operational product Power Pack would constitute manufacture

M/s Quippo Energy Private Ltd Vs CE&ST (CESTAT Ahmedabad)

The CESTAT Ahmedabad in the case of M/s Quippo Energy Private Ltd. vs. Commissioner of CE & ST held that the activities carried on by the assessee on imported gensets results into existence of a more functional & operational product catering the needs of industrial consumers...

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Notice u/s 153C invalid if no satisfaction been recorded by Assessing Officer

M/s Shiv Associates Vs DCIT (ITAT-Ahmedabad)

ITAT-Ahmedabad In the case of M/s Shiv Associates v DCIT quashed the notice u/s 153C relying on the Judgment of the similar case related to the assessee in which the notices u/s 153C were quashed as no satisfaction was recorded by the AO....

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Mutual Transactions can’t come under section 2(22)(e)

ITO Vs Smt. Gayatri Chakroborty (ITAT Kolkata)

ITAT Kolkata held in case of ITO v Smt. Gayatri Chakroborty that where the transactions are mutual in nature or there is benefit or no benefit to each other, then these kind of transactions will not come under the purview of section 2(22)(e)....

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Without any supporting material A.O. cannot substitute market value

DCIT Vs Rama Capital and Financial Services Ltd. (ITAT Mumbai)

ITAT Mumbai held in the case of DCIT v. Rama Capital and Financial Services Ltd. that without any substantive ground reopening cannot be done on the basis of change of opinion. It Further held that without any supporting material, the A.O. cannot substitute market value....

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Principal of Consistency should be followed on principal laid down in case of Assessee’s Sister Concern

DCIT Vs The Indian Hotels Co. Pvt. Ltd. (ITAT-Mumbai)

ITAT Mumbai held In the case of DCIT v. The Indian Hotels Co. Pvt. Ltd. that principle of consistency should be followed when there were similar issues and the similar principal was laid down in the case of Assessee’s Sister Concern....

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Penalty Proceedings can’t be initiated without any corroborative evidence

Dasrathbhai Narandas Patel Vs ITO (ITAT Ahmedabad)

In the Case of the Dasrathbhai Narandas Patel v ITO, ITAT-Ahmedabad held that the assessment Proceedings are completely different from Penalty Proceedings and before initiating the penalty proceedings there should be some convincing and corroborative evidence....

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Disallowance u/s 40A (3) for aggregate cash payments of more than Rs. 20,000 in a single day to one person is applicable w.e.f. 01/04/2009

M/s. Pardeep Singh Wazir Vs The DCIT (ITAT Amritsar)

ITAT Amritsar held In the case of M/s. Pardeep Singh Wazir vs. The DCIT that Circular no. 1/2009, dated 27th March, 2009 issued by CBDT is effective from 01/04/2009 i.e. for the assessment year 2009-10 onwards....

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