ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
F International transactions : IT and ITES : Selection of comparables : Companies having functional dissimilarity, high turnover, super normal profit and varying profit margin to be excluded from comparables : PTC Software (India) P. Ltd. v. Dy. CIT (Pune) p. 578 (31-10-2014)
F International transactions :Software development services : Selection of comparables : Turnover filter : Company with advertisement, marketing and distribution expenses less than 3 per cent of sales to be included : Element K India P. Ltd. v. ITO (Delhi) p. 604 (14-11-2014)
F Failure by assessee to establish nature of advance and circumstances constituting write off not allowable as business expenditure: Element K India P. Ltd. v. ITO (Delhi) p. 604 (14-11-2014)
F Income received on sale of carbon credits as capital receipt : Dy. CIT v. Sree Rayalaseema Green Energy Ltd. (Hyd.) p. 627 (7-11-2014)
F Issue concluded in earlier orders cannot be revised : K. Raheja IT Park (Hyderabad) P. Ltd. v. CIT (Hyd) p. 632 (7-11-2014)
F Where cost of acquisition of asset treated as application of income for purpose of exemption, depreciation on assets allowable : Dy. DIT (Exemptions) v. Sri Rangalatchumi Educational Trust (Chennai) p. 654 (31-10-2014)
F Purchase of raw material in business of exports is revenue in nature : Lampex Electronics Ltd. v. Dy. CIT (Hyd.) p. 672 (7-11-2014)
F Failure by AO to discuss anything in assessment order regarding depreciation on windmill showed non-application of mind to materials filed, revision proper u/s. 263 : Peekay Steel Castings P. Ltd. v. Asst. CIT (Cochin) p. 677
F Commissioner can withdraw approval of registration only in accordance with law : Dream and Beauty Charitable Trust v. CIT (Chandigarh) p. 686 (17-10-2014)
| COMPANY LAW INSTITUTE OF INDIA PVT. LTD. No. 2, Vaithyaram Street, T.Nagar, Chennai - 600017. Phone: (044) 24350752 - 55 Fax: (044) 24322015 info@cliofindia.com |
GOODS AND SERVICE TAX REPORTS (GSTR) HIGHLIGHTS
F Where no specific mention with respect to "flanges" in entry 7329, duty drawback claim rejected : Micro Forge (India) Ltd. v. Union of India (Guj) p. 605
F Returned goods should be processed and cleared as such to claim refund : Lakshmi Automatic Loom Works Ltd. v. Deputy CCE (Mad) p. 619
F Even after omission of section 3A and rule 96ZP(3) Commissioner has authority to pass adjudication order or impose penalty in view of amendments made to notifications issued under sections 3A and 37 by 2009 Act validating of certain actions taken : Triveni Alloys Ltd. v. CESTAT (Mad) p. 625
F Delay in filing appeal by assessee which had taken over defaulting company condoned : Goodluck Carbon P. Ltd. v. CESTAT (P&H) p. 638
F Cenvat Credit on capital goods or input or input service used on power plant situated at different premises admissible, subject to exclusive supply of power by such plant to assessee's manufacturing unit : JSW Steel Ltd. v. CCE (Trib.-Chennai) p. 567
F Press Notes :
Tax Reforms : Introduction of Goods and Services Tax p. 147
F Rules :
Central Excise Rules, 2002 p. 145
F Notifications :
Central Excise Act, 1944 : Notification under section 35D : Customs, Excise and Service Tax Appellate Tribunal (Procedure) Rules, 1982 : Substitution of rule 28A(1)(a) p. 144
Customs Act, 1962 : Notification under section 14(2) : Rates of basic duty on specified goods : Amendments p. 146
Notification under section 129C : Customs, Excise and Service Tax Appellate Tribunal (Procedure) Rules, 1982 : Substitution of rule 28A(1)(a) p. 144
Customs Tariff Act, 1975 : Notification under section 9C : Customs, Excise and Service Tax Appellate Tribunal (Procedure) Rules, 1982 : Substitution of rule 28A(1)(a) p. 144
Finance Act, 1994 : Notification under section 86 : Customs, Excise and Service Tax Appellate Tribunal (Procedure) Rules, 1982 : Substitution of rule 28A(1)(a) p. 144
| COMPANY LAW INSTITUTE OF INDIA PVT. LTD. No. 2, Vaithyaram Street, T.Nagar, Chennai - 600017. Phone: (044) 24350752 - 55 Fax: (044) 24322015 info@cliofindia.com |
__._,_.___
No comments:
Post a Comment