Home Highlights August 2015 Year 2015 This

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1. Bogus sale - allegation of unaccounted sale to the petrol pump owners/other industries - the sale price declared by the assessee was accepted by the sales tax department...

2. E-commerce business - Selling at a price lower than the cost price - unless certain provisions such as Section 145(3)are invoked, the AO is not empowered to go beyond...

3. Valuation of goods - method of valuation - sale of goods from depot / customer care center - It is found that the form in which the goods have been sold at depot are in...

4. Levy of differential Additional Duty of Customs - Valuation for CVD - In this case since the goods are not sold to the consumer there cannot be a retail sale price. The...

5. Uber’s discount and incentive policy - Abuse of Dominant Position - so long as this dominant position, whether directly or indirectly, imposes an unfair price in...

6. Benefit of sales tax exemption - sale price were same from the exempted and non-exempted units - Uniform pricing cannot be a ground to hold that the respondent was...

7. Whether the prices fixed under the Drugs (Prices Control) Order (for short, ‘DPCO’) in respect of drugs/formulations would be operative in respect of all sales...

8. Recovery of sales tax dues - encumbered property or not - liability of auction purchasers - this is a clear case in which the Sales Tax Department had a charge on the...

9. Concessional rate of duty - import of bulk drugs - It is beyond doubt that bulk drugs are also drugs - Benefit of N/N. 21/2002-Cus allowed.

10. Entry Tax - rebate to the extent of the amount of tax on the payment of Trade Tax - Notification dated 28.4.2005, cannot be interpreted in the manner that where the rate...

11. Multiple trades on the same day - fraudulent and unfair trade - Even though preponderance of probability is sufficient to prove PFUTP violations still fraudulent and...

12. Assessment of sales shown in accounts at low prices - Benefit of exemption from VAT - sale of footwear - The language of the section is specific insofar as it states...

13. Valuation - Once anti dumping duty is levied, the same becomes part of the sale price, as otherwise the sale price of the product imported into India will be different...

14. Capital gain on sale of shares - market price or agreed price - transfer of shares by obtaining interest free loans for a long tenure coupled with call option agreements...

15. Shares converted into stock-in-trade - Valuation adopted for conversion of investments to stock-in-trade, opening stock and closing stock - where an assessee converts...