Ex-chairman threatens lawsuit to Micromax; Airbus patent for 'flying bunk beds'; No copyright for Yoga sequence
Ex-chairman threatens lawsuit to Micromax; Airbus patent for 'flying bunk beds'; No copyright for Yoga sequence
ITR'S TRIBUNAL TAX REPORTS (ITR (Trib)) HIGHLIGHTS
F Where payee wholly or substantially financed by Government, no tax to be deducted at source : Asst. CIT (TDS) v. State Bank of India (PEC) (Chandigarh) p. 129 (1-9-2015)
F Bad debts : Outstanding claims allowable u/ss. 36(1)(vii) and 37 if assessee had written off bad debts as irrevocable in his accounts : Bhagwati Prasad v. Asst. CIT (Jaipur) p. 134 (11-8-2015)
F Deduction allowable in respect of interest income attributable to carrying on business of providing credit facilities to members : Jaoli Taluka Sahakari Patpedhi Maryadit v. ITO (Mumbai) p. 138 (10-8-2015)
F Assessee not entitled to exemption on rendering services to its members to carry out their business or professional services being commercial activity and not charitable activity : Deputy DIT (Exemptions)-II v. The Chennai Custom House Agents Association (Chennai) p. 145
F Concept of charity and principle of mutuality, mutually exclusive : Deputy DIT (Exemptions)-II v. The Chennai Custom House Agents Association (Chennai) p. 145
F Deduction for depreciation in respect of same expenditure would amount to double deduction, not allowable : Deputy DIT (Exemptions)-II v. The Chennai Custom House Agents Association (Chennai) p. 145
F Where Central Government giving approval for remuneration of directors, such remuneration allowable as business expenditure : IMA PG India Ltd. v. Deputy CIT (Mumbai) p. 155
F Where reasonable cause for not furnishing permanent account numbers of deductees shown, penalty cannot be levied : ITO (TDS) v. Executive Engineer, Provisional Division, Public Health (Delhi) p. 162
F Reasonable opportunity to Assessing Officer to examine additional evidence is not violative of rule 46A of 1962 Rules : Xerces Technologies P. Ltd. v. Deputy CIT (Pune) p. 166
F Where creditworthiness of director not established, disallowance sustainable : Xerces Technologies P. Ltd. v. Deputy CIT (Pune) p. 166
F Change of opinion not permitted u/s. 147, reassessment proceedings invalid : Landbase India Ltd. v. Deputy CIT (Delhi) p. 172
F Nature of services rendered by non-resident agent cannot be decided without examining details, matter remanded : Chenitan Color Chem P. Ltd. v. Asst. CIT (Chennai) p. 181 (12-8-2015)
F Book profits : Profits arising on transfer of capital asset to wholly owned Indian subsidiary exempt : Shivalik Venture P. Ltd. v. Deputy CIT (Mumbai) p. 187 (19-8-2015)
F Profit arising on transfer of capital asset by assessee to its wholly owned Indian subsidiary liable to be excluded from net profit : Shivalik Venture P. Ltd. v. Deputy CIT (Mumbai) p. 187
F Arm's length price of loan to be ascertained even if loan given out of proceeds of global depository receipts abroad : Soma Textile and Industries Ltd. v. Addl. CIT (Ahd) p. 205
F Amortisation of preliminary expenses : condition precedent for allowing amortisation : Soma Textile and Industries Ltd. v. Addl. CIT (Ahd) p. 205
F Loss on fluctuation in rate of foreign exchange purely an account loss, cannot be capitalised : Soma Textile and Industries Ltd. v. Addl. CIT (Ahd) p. 205
F Where reassessment based on factual error pointed out by audit party that interest not actually paid, deduction of interest not allowable, reassessment valid : Rollatainers Ltd. v. Asst. CIT (Delhi) p. 217 (6-8-2015)
F Challenge to initiation of reassessment proceedings on ground of change of opinion not sustainable : Rollatainers Ltd. v. Asst. CIT (Delhi) p. 217
F Reopening of assessment valid on mere information about escapement of income to Assessing Officer : Rollatainers Ltd. v. Asst. CIT (Delhi) p. 217
F International transaction : Definition of associated enterprise : Kaybee P. Ltd. v. ITO (Mumbai) p. 234
F International transaction: Determination of arm's length price : Kaybee P. Ltd. v. ITO (Mumbai) p. 234
F Business expenditure : Where no material to show that payments made contrary to terms and conditions of agreement between assessee and owner, matter remanded for proper verification : Kaybee P. Ltd. v. ITO (Mumbai) p. 234
F Claim made after scrutiny notice u/s. 143(2), no inference that offer made by assessee not voluntary : Atotech India Ltd. v. Asst. CIT (Delhi) p. 253
| 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 |
To Unsubscribe : Reply back with "Unsubscribe" in subject followed by the key word "ITR" or "CC" or "VST" or "ITR (Trib)" or "GSTR", respectively or "All" if you do not want any Email. ITR : Income Tax Reports, CC : Company Cases, VST : VAT and Service Tax Cases, GSTR : Goods and Service Tax Reports, ITR (Trib) : ITR'S Tribunal Tax Reports. Also send your feedback or comments to info@cliofindia.com
The facility to view tax and computation sheet for demand raised by AO is made available to the assessee in the eFiling portal. After Login, select eFile ' Response to Outstanding Tax Demand, click on download button next to demand amount to download the details pdf. In case of demand raised by CPC or raised manually outside the system, assessee needs to request for resend of intimation request or Jurisdictional Assessing Officer respectively
SEBI reviews capacity planning framework of Stock Exchanges & Clearing Corporations
Based on the recommendation of SEBI's Technical Advisory Committee, SEBI reviews capacity planning framework of Stock Exchanges ('SEs') and Clearing Corporations ('CCs'); Directs SEs & CCs to ensure certain requirements while planning capacities of their trading, clearing and settlement, risk management related infrastructure; Requirements include: (i) Installed capacity shall be at least 1.5 times of projected peak load, (ii) Projected peak load shall be calculated for next 60 days based on per-second peak load trend of past 180 days, (iii) Systems in trading, clearing and settlement ecosystem shall be considered in this process including all technical components such as network, hardware, software, etc., and shall be adequately sized to meet the capacity requirements, (iv) Where actual capacity utilisation exceeds 75% of installed capacity, immediate action shall be taken to enhance the capacity; States that SEs / CCs shall implement suitable mechanisms, including generation of appropriate alerts, to monitor capacity utilisation on real-time basis and shall proactively address issues pertaining to their capacity need: SEBI
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SEBI prescribes norms to increase FPI investment limit in Government Debt
SEBI enhances the limit for investment by FPIs in Government Securities; Increases limit in Central Government securities to INR 129,900 Crore (on October 12, 2015) and INR 135,400 cr (on January 01, 2016); Increases limit for Long Term FPIs in Central Government securities to INR 36,600 cr (on October 12, 2015) and INR 44,100 cr (on January 01, 2016); Prescribes separate additional limit for investment by all FPIs in State Development Loans: SEBI
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Govt. appoints Shri. Tapan Ray as SEBI, Part-time Member
Central Government appoints Shri Tapan Ray, Secretary, Ministry of Corporate Affairs as Part Time Member of SEBI, with immediate effect and until further orders.
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Shri. Mohanty takes charge as Executive Director, SEBI
Shri. S.K. Mohanty takes charge as Executive Director, SEBI with effect from September 29, 2015
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CLB's interim order, sans perversity/arbitrariness, not to be interfered by HC
SC sets-aside AP & Telangana HC decision whereby Board of Directors of a company was substituted by an ad-hoc Board and the Executive Director of the co. (respondent) was entrusted with MD post; CLB had denied the respondent with such interim relief, thus she preferred an appeal before HC u/s 10F of Cos Act 1956; SC observes that an appeal u/s 10F could be preferred against both final & interlocutory CLB order, however "an order granting or refusing interim relief, being essentially in the exercise of judicial discretion and based on equity is an appeal on principle and no interference is merited unless the same suffers from the vice of perversity and arbitrariness"; Explains that Sec 10F statutorily demarcates the contours of jurisdictional exercise by an appellate forum depending on the nature of the order impugned i.e. interlocutory or final and both cannot be equated; Notes that in instant case, CLB had given interim order, pleadings of other party before CLB were yet pending and CLB did not record any view on merits of the case, despite which HC decisively furnished its conclusions on all vital issues, leaving little or none for CLB to decide; Holds that, "no exhaustive examination of the factual and legal aspects ought to have been undertaken by the High Court to record its conclusive deductions on the basis thereof... the elaborate pursuit so undertaken by it, is neither contemplated nor permissible.":SC
The ruling was delivered by Justice V. Gopala Gowda and Justice Amitava Roy.
COMPANY CASES (CC) HIGHLIGHTS
F "Continued employment" of managing directors on attainment of 70 years and no special resolution required to "continue" as managing director : Sridhar Sundararajan v. Ultramarine and Pigments Ltd. (Bom) P. 355
F Appeal filed and objections raised by person disqualified from being statutory auditor of company, appeal dismissed with cost : H. K. Chadha v. Basti Sugar Mills Co. Ltd. (Delhi) P. 367
F Petitioner never ceasing to be member of company on transferring shares to ex-employee in execution proceedings, petitioner competent to seek restoration of name of company : M. A. Panjwani v. Registrar of Companies (Delhi) P. 380
F Restoration of name of comapny : Conditions for restoration : M. A. Panjwani v. Registrar of Companies (Delhi) P. 380
F Interpretation of statutes : Rule of ejusdem generis : M. A. Panjwani v. Registrar of Companies (Delhi) P. 380
F Company falling within definition of expression "party" under section 403 of 1956 Act, can maintain miscellaneous application : AIDQUA Holdings (Mauritius) Inc. v. Tamil Nadu Water Investment Co. Ltd. (Mad) P. 390
F CLB having powers under section 397 or 398 to modify articles of association of company has powers to alter or modify shareholders' agreement : AIDQUA Holdings (Mauritius) Inc. v. Tamil Nadu Water Investment Co. Ltd. (Mad) P. 390
F CLB or High Court cannot direct State Government to legislate : AIDQUA Holdings (Mauritius) Inc. v. Tamil Nadu Water Investment Co. Ltd. (Mad) P. 390
F Dishonour of cheques of companies and issuance of notice to directors : A critical study-Prof. Dr. Mukund Sarda p. 138
F Employment laws in India-Vivek Pathak p. 125
F Role of banks' recovery agents under SARFAESI Act, 2002-G. S. Dubey p. 133
| 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 |
To Unsubscribe : Reply back with "Unsubscribe" in subject followed by the key word "ITR" or "CC" or "VST" or "ITR (Trib)" or "GSTR", respectively or "All" if you do not want any Email. ITR : Income Tax Reports, CC : Company Cases, VST : VAT and Service Tax Cases, GSTR : Goods and Service Tax Reports, ITR (Trib) : ITR'S Tribunal Tax Reports. Also send your feedback or comments to info@cliofindia.com
INCOME TAX REPORTS (ITR)--PRINT AND ONLINE EDITION
Return --Revised return--When can be filed--Amount shown in original return as income from sales of property--Sales not materialising--Revised return showing nil income from transactions--Valid--Income-tax Act, 1961, s. 139-- CIT v. Lok Housing and Constructions Ltd. (Bom) . . . 235
Scientific research --Expenditure on scientific research--Effect of section 35--Expenditure must be approved by prescribed authority--Decision of prescribed authority is final--Assessing Officer and Dispute Resolution Panel cannot overrule such decisions--Income-tax Act, 1961, s. 35(2AB), (3), 43(4)-- Tejas Networks Ltd. v. Deputy CIT (Karn) . . . 240
Search and seizure --Block assessment--Meaning of undisclosed income in section 158B--Income disclosed under Voluntary Disclosure Scheme and in a return three years prior to search--Amount cannot be as undisclosed income in block assessment proceedings--Income-tax Act, 1961, s. 158B-- CIT v. H. M. Exports (Karn) . . . 228
Writ --Existence of alternate remedy not an absolute bar for issue of writ--Constitution of India, art. 226-- Tejas Networks Ltd. v. Deputy CIT (Karn) . . . 240
Advance tax --Interest payable by assessee--Waiver of interest--Powers of Chief Commissioner--Levy of interest confirmed by Tribunal--Case of assessee not covered by notification dated 26-6-2006--Chief Commissioner could not waive interest--Income-tax Act, 1961, ss. 119, 234C--Notification dated 26-6-2006-- Fertilizers and Chemicals Travancore Ltd. v. Deputy CIT (Ker) . . . 591
Appeal to Appellate Tribunal --Revision--Powers of Tribunal --Valid order of revision--Tribunal has no power to reappraise material and set aside order--Income-tax Act, 1961, ss. 254, 263-- CIT v. Varanasi Khanta Rao, Prop. Sri Sai Srinivasa Modern Rice Mill (T & AP) . . . 602
Appeal to High Court --Duty of Tribunal--Duty to follow direction of High Court--Income-tax Act, 1961, s. 254-- Dr. Nassar Yusuf v. CIT (Ker) . . . 595
Business expenditure --Disallowance--Disallowance of expenditure on ground that tax has not been deducted at source on payment--Effect of insertion of second proviso to section 40(a)(ia)--Payee filing income-tax return and offering sum received for taxation--Disallowance of sum not justified--Income-tax Act, 1961, ss. 40(a)(ia), 201(1)-- CIT v. Ansal Land Mark Township P. Ltd. (Delhi) . . . 635
----Disallowance--Payments otherwise than by account payee cheque or account payee bank draft--Assessment on basis of estimate--Disallowance cannot be made under section 40A(3)--Income-tax Act, 1961, s. 40A(3)-- CIT v. Amman Steel and Allied Industries (Mad) . . . 568
Cash credits --Burden of proof--Share application money--Assessee must prove creditworthiness of applicants and genuineness of transactions--No such proof--Addition of amount in income of assessee--Justified--Income-tax Act, 1961, s. 68-- Riddhi Promoters P. Ltd. v. CIT (Delhi) . . . 641
Charitable purposes --Charitable trust--Exemption--Conditions precedent--Income of trust should be spent on objects enumerated in trust deed--Object of trust improvement of Ayurvedic system and allowing for help from allopathic system--Income from allopathic system much higher than that from Ayurvedic system--Not material--Trust granted exemption for several years--No new facts in assessment year 2006-07--Denial of exemption for assessment year 2006-07--Not valid--Income-tax Act, 1961, s. 11-- Mool Chand Khairati Ram Trust v. DIT (Exemptions) (Delhi) . . . 650
Exemption --Educational institution--Conditions precedent for exemption--Actual existence of educational institution--Approval of prescribed authority--Question of application of funds not to be considered at stage of approval--Income-tax Act, 1961, s. 10(23C)-- American School of Bombay Education Trust v. Union of India (Delhi) . . . 645
High Court --Meaning of “obiter dictaâ€--Observations made in disposing of case cannot be considered to be “obiter dictaâ€-- Dr. Nassar Yusuf v. CIT (Ker) . . . 595
Income from house property --Business--Business income or income from house property--Firm engaged in export business--Construction of godowns for its business--Godowns let out when not required by assessee--No amenities provided to lessees--Rent from godowns assessable as income from property--Income-tax Act, 1961, ss. 22, 28-- CIT v. Sileman Khan Mahaboob Khan (T & AP) . . . 613
Income from undisclosed sources --Enquiry by excise authorities cannot be sole basis for estimation of income--Order of Commissioner of Excise after remand--Estimate based on such order--Justified--Income-tax Act, 1961-- CIT v. Amman Steel and Allied Industries (Mad) . . . 568
----Income-tax survey of hospital disclosing payments in cash to doctors--Statement on oath by employees of hospital confirming payments--High Court holding in assessment of hospital that its accounts were unreliable--Additions of amounts in hands of doctors--Justified--Income-tax Act, 1961-- Dr. Nassar Yusuf v. CIT (Ker) . . . 595
Income-tax --General principles--Exemption granted for several years--No new facts--Denial of exemption in subsequent year--Not justified-- Mool Chand Khairati Ram Trust v. DIT (Exemptions) (Delhi) . . . 650
Industrial undertaking --Special deduction under section 80-IA--Computation of special deduction--Losses and other deductions set off against income of previous year cannot be taken into consideration--Income-tax Act, 1961, s. 80-IA-- CIT v. Kongoor Textile Process (Mad) . . . 559
International transactions --Arm’s length price--Determination--General principles applicable--Comparison of international transaction with uncontrolled transaction under rule 10B--Wide range of services in information technology enabled services--Knowledge process outsourcing could not be compared to call centres--Income-tax Act, 1961, Chap. X-- Rampgreen Solutions P. Ltd. v. CIT (Delhi) . . . 533
Precedent --Effect of decision of Supreme Court in American Hotel and Lodging Association Educational Institute v. CBDT [2008] 301 ITR 86 and decision of Delhi High Court in Digember Jain Society for Child Welfare v. DGIT (Exemptions) [2010] 329 ITR 459 (Delhi)-- American School of Bombay Education Trust v. Union of India (Delhi) . . . 645
----Effect of decision of Supreme Court in Liberty India v. CIT [2009] 317 ITR 218-- CIT v. Kongoor Textile Process (Mad) . . . 559
Reassessment --Notice--Validity--Notice based solely on opinion of audit party--Not valid--Income-tax Act, 1961, ss. 147, 148-- Shree Ram Builders v. Asst. CIT (OSD) (Guj) . . . 631
----Validity--Reason for notice not furnished to assessee--Reassessment based on statement of third party--Assessee not given opportunity to be heard--Reassessment not valid--Income-tax Act, 1961, s. 147-- Kothari Metals v. ITO (Karn) . . . 581
Recovery of tax --Garnishee proceedings--Writ petition by person who was not the legal owner of assets in question--Not maintainable--Income-tax Act, 1961, s. 226(3)-- TRO v. Bhishma Pithamaha (Karn) . . . 584
----State reorganisation--Company carrying on business on behalf of Telangana State incorporated on 30-5-2014--Assets and properties of Andhra Pradesh Beverages Corporation not taken over by company--Not a successor in interest to Corporation--Tax dues of Andhra Pradesh Beverages Corporation for assessment year 2012-13 could not be recovered from company--Company was not an assessee in default nor a garnishee--Andhra Pradesh Reorganisation Act, 2014, ss. 53, 68--Income-tax Act, 1961, s. 226(3)-- Telangana State Beverage Corporation Ltd. v. Union of India (T & AP) . . . 622
Revision --Condition precedent--Order of Assessing Officer erroneous and prejudicial to the Revenue--Commissioner discovering errors and passing order of revision after hearing assessee--Order valid--Income-tax Act, 1961, s. 263-- CIT v. Varanasi Khanta Rao, Prop. Sri Sai Srinivasa Modern Rice Mill (T & AP) . . . 602
Writ --Writ petition by person who was not legal owner of assets in question--Not maintainable--Constitution of India, art. 226-- TRO v. Bhishma Pithamaha (Karn) . . . 584
S. 53 --Recovery of tax--State reorganisation--Company carrying on business on behalf of Telangana State incorporated on 30-5-2014 --Assets and properties of Andhra Pradesh Beverages Corporation not taken over by company--Not a successor in interest to Corporation--Tax dues of Andhra Pradesh Beverages Corporation for assessment year 2012-13 could not be recovered from company--Company was not an assessee in default nor a garnishee-- Telangana State Beverage Corporation Ltd. v. Union of India (T & AP) . . . 622
S. 68 --Recovery of tax--State reorganisation--Company carrying on business on behalf of Telangana State incorporated on 30-5-2014 --Assets and properties of Andhra Pradesh Beverages Corporation not taken over by company--Not a successor in interest to Corporation--Tax dues of Andhra Pradesh Beverages Corporation for assessment year 2012-13 could not be recovered from company--Company was not an assessee in default nor a garnishee-- Telangana State Beverage Corporation Ltd. v. Union of India (T & AP) . . . 622
Art. 226 --Writ--Writ petition by person who was not legal owner of assets in question--Not maintainable-- TRO v. Bhishma Pithamaha (Karn) . . . 584
S. 10(23C) --Exemption--Educational institution--Conditions precedent for exemption--Actual existence of educational institution--Approval of prescribed authority--Question of application of funds not to be considered at stage of approval-- American School of Bombay Education Trust v. Union of India (Delhi) . . . 645
S. 11 --Charitable purposes--Charitable trust--Exemption--Conditions precedent--Income of trust should be spent on objects enumerated in trust deed--Object of trust improvement of Ayurvedic system and allowing for help from allopathic system--Income from allopathic system much higher than that from Ayurvedic system--Not material--Trust granted exemption for several years--No new facts in assessment year 2006-07--Denial of exemption for assessment year 2006-07--Not valid-- Mool Chand Khairati Ram Trust v. DIT (Exemptions) (Delhi) . . . 650
S. 22 --Income from house property--Business--Business income or income from house property--Firm engaged in export business--Construction of godowns for its business--Godowns let out when not required by assessee--No amenities provided to lessees--Rent from godowns assessable as income from property-- CIT v. Sileman Khan Mahaboob Khan (T & AP) . . . 613
S. 28 --Income from house property--Business--Business income or income from house property--Firm engaged in export business--Construction of godowns for its business--Godowns let out when not required by assessee--No amenities provided to lessees--Rent from godowns assessable as income from property-- CIT v. Sileman Khan Mahaboob Khan (T & AP) . . . 613
S. 40(a)(ia) --Business expenditure--Disallowance--Disallowance of expenditure on ground that tax has not been deducted at source on payment--Effect of insertion of second proviso to section 40(a)(ia)--Payee filing income-tax return and offering sum received for taxation--Disallowance of sum not justified-- CIT v. Ansal Land Mark Township P. Ltd. (Delhi) . . . 635
S. 40A(3) --Business expenditure--Disallowance--Payments otherwise than by account payee cheque or account payee bank draft--Assessment on basis of estimate--Disallowance cannot be made under section 40A(3)-- CIT v. Amman Steel and Allied Industries (Mad) . . . 568
S. 68 --Cash credits--Burden of proof--Share application money--Assessee must prove creditworthiness of applicants and genuineness of transactions--No such proof--Addition of amount in income of assessee--Justified-- Riddhi Promoters P. Ltd. v. CIT (Delhi) . . . 641
S. 80-IA --Industrial undertaking--Special deduction under section 80-IA--Computation of special deduction--Losses and other deductions set off against income of previous year cannot be taken into consideration-- CIT v. Kongoor Textile Process (Mad) . . . 559
Chap. X --International transactions--Arm’s length price--Determination--General principles applicable--Comparison of international transaction with uncontrolled transaction under rule 10B--Wide range of services in information technology enabled services--Knowledge process outsourcing could not be compared to call centres-- Rampgreen Solutions P. Ltd. v. CIT (Delhi) . . . 533
S. 119 --Advance tax--Interest payable by assessee--Waiver of interest--Powers of Chief Commissioner--Levy of interest confirmed by Tribunal--Case of assessee not covered by notification dated 26-6-2006--Chief Commissioner could not waive interest-- Fertilizers and Chemicals Travancore Ltd. v. Deputy CIT (Ker) . . . 591
S. 147 --Reassessment--Notice--Validity--Notice based solely on opinion of audit party--Not valid-- Shree Ram Builders v. Asst. CIT (OSD) (Guj) . . . 631
----Reassessment--Validity--Reason for notice not furnished to assessee--Reassessment based on statement of third party--Assessee not given opportunity to be heard--Reassessment not valid-- Kothari Metals v. ITO (Karn) . . . 581
S. 148 --Reassessment--Notice--Validity--Notice based solely on opinion of audit party--Not valid-- Shree Ram Builders v. Asst. CIT (OSD) (Guj) . . . 631
S. 201(1) --Business expenditure--Disallowance--Disallowance of expenditure on ground that tax has not been deducted at source on payment--Effect of insertion of second proviso to section 40(a)(ia)--Payee filing income-tax return and offering sum received for taxation--Disallowance of sum not justified-- CIT v. Ansal Land Mark Township P. Ltd. (Delhi) . . . 635
S. 226(3) --Recovery of tax--Garnishee proceedings--Writ petition by person who was not the legal owner of assets in question--Not maintainable-- TRO v. Bhishma Pithamaha (Karn) . . . 584
----Recovery of tax--State reorganisation--Company carrying on business on behalf of Telangana State incorporated on 30-5-2014--Assets and properties of Andhra Pradesh Beverages Corporation not taken over by company--Not a successor in interest to Corporation--Tax dues of Andhra Pradesh Beverages Corporation for assessment year 2012-13 could not be recovered from company--Company was not an assessee in default nor a garnishee-- Telangana State Beverage Corporation Ltd. v. Union of India (T & AP) . . . 622
S. 234C --Advance tax--Interest payable by assessee--Waiver of interest--Powers of Chief Commissioner--Levy of interest confirmed by Tribunal--Case of assessee not covered by notification dated 26-6-2006--Chief Commissioner could not waive interest-- Fertilizers and Chemicals Travancore Ltd. v. Deputy CIT (Ker) . . . 591
S. 254 --Appeal to Appellate Tribunal--Revision--Powers of Tribunal--Valid order of revision--Tribunal has no power to reappraise material and set aside order-- CIT v. Varanasi Khanta Rao, Prop. Sri Sai Srinivasa Modern Rice Mill (T & AP) . . . 602
----Appeal to High Court--Duty of Tribunal--Duty to follow direction of High Court-- Dr. Nassar Yusuf v. CIT (Ker) . . . 595
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