CESTAT Kolkata held that Cenvat Credit can be utilized for payment of service tax on ‘import of services’. Accordingly, duty demand denying the same is unsustainable.
ITAT Pune held that subsidy received by the assessee is towards the investment made in the expansion of its industrial unit under the Package Incentive Scheme 2001 is ‘Capital’ receipts. Accordingly, the same is not taxable.
Bombay High Court held that dismissal of appeal without hearing the case on merits merely on the ground that matter is remanded back by Commissioner (A) unjustified as remand was only for limited purpose of re-quantification of customs duty.
ITAT Mumbai held that assessee claimed benefit u/s 54 on a different document, whereas ultimately the transaction completed on altogether a different set of conditions and property, which is not permissible to claim benefit u/s. 54 of the Act. Accordingly, benefit u/s. 54 denied.
ITAT Bangalore held that in case of non-resident, income arising in India by way of royalties or technical charges could be taxed in India but that could be only on the receipt basis under India-Switzerland DTAA and not on accrual basis.
ITAT Jodhpur held that merely by transferring the reserve created out of the tax paid profit subsequently transferred to capital account of the firm is not a mistake apparent on record and cannot be rectified under the guise of provision of section 154 of the Act
CESTAT Chandigarh held that service tax demand under reverse charge mechanism unsustainable in case the IPR is registered in any foreign country and is not registered in India.
ITAT Amritsar held that initiation of Assessment Proceedings u/s 153C, instead of section 153A, in case of the searched assessee makes the entire assessment invalid. Accordingly, penalty levied u/s 271(1)(c) is not maintainable.
ITAT Indore held that issuance of notice under section 148 of the Income Tax Act to the demerged company i.e. non-existent company is invalid and liable to be quashed.
ITAT Mumbai held that in terms of General Clauses Act, 1897 period of six month mentioned in Section 54EC of the Income Tax Act has to be regarded as six British Calendar months.
