Income Tax
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ZPMC Lacks Permanent Establishment in India Under Article 5(4) of India-China DTAA.
Case-Laws - AT : No agency PE in India under Article-5(4) of the India China DTAA of the non-resident entity-i.e. ZPMC - AT
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Members' Withdrawals from AOP Not Taxable; Section 80IB(10) Deduction Applies to Joint Venture, Not Individual Members.
Case-Laws - AT : Once it is held that the agreement constitutes AOP any amount drawn from the AOP cannot be taxed in the hands of the assessee member. The assessee is also not entitled for any deduction u/s. 80IB(10) and it is the joint venture that is eligible for the deduction u/s.80IB(10) - AT
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Compensation for Power Shortfall Qualifies as Income from Windmill Power, Eligible for Deduction u/s 80IA.
Case-Laws - AT : Compensation on account of shortfall in the power generated by the assessee company vis-a-vis the minimum guarantee rated capacity of production of power is to be held to be derived from the windmill power undertaking engaged in generation of power and is entitled for deduction u/s 80IA - AT
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Interest on Advances for Business Purposes Allowed: Commercial Expediency Validated by Case Law and Tax Regulations.
Case-Laws - AT : Advance made for commercial expediency - No disallowance of interest - AT
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Non-Compete Rights Classified as Depreciable Intangible Assets, Impacting Business Tax Obligations and Income Calculations.
Case-Laws - AT : Non compete right is an "intangible asset" eligible for depreciation - AT
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Licensors' Data Provided Without Technology Access; No TDS Liability for Assessee Under Current Regulations.
Case-Laws - AT : Licensors have only made available the data acquired by them and available with them but are not making available any technology available for use of such data by the assessee herein - No TDS liability - AT
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Company's Share Loss Classified as Speculative u/s 73 Despite Actual Delivery Not Meeting Section 43(5) Definition.
Case-Laws - AT : Loss suffered by a company in share transactions is to be treated as a speculative loss within the meaning of s. 73, notwithstanding the fact that there was actual delivery of scrips of shares and the transaction is not within the purview of the definition of speculative transaction in s. 43(5) - AT
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Trademarks Recognized as Depreciable Intangible Assets for Tax Purposes; Eligible for Depreciation Benefits Under Tax Laws.
Case-Laws - AT : Eligibility for depreciation in respect of the intangible asset by way of trademark allowed - AT
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Court Upholds Taxpayer's Documents, Deletes Additions by Authorities u/s 68 of Income Tax Act.
Case-Laws - AT : Non disapproving the documents furnished by the assessee to discharge the initial burden placed upon it u/s 68 - additions deleted - AT
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Date of Allotment Determines Share Acquisition for Long-Term Capital Gains Tax, Not Demat Credit Date.
Case-Laws - AT : LTCG - Date of allotment is the date of acquisition of the shares in question and not date on which the same were credited to demat account - AT
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Orders u/s 127 Must Inform Assessee About Case Transfer to Ensure Transparency and Fair Process.
Case-Laws - HC : Orders passed under Section 127 for transferring a case should be forwarded to the concerned assessee, if only for the assessee to understand the circumstances in which the transfer takes place. - HC
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New Rules for Assessees: Justifying Deductions with Proper Documentation u/s 44AC of the Income Tax Act.
Case-Laws - HC : Distinction had to be made in respect of assessees covered by Section 44AC between those who would be able to justify the deductions claimed and others who may not stay back for the same or have their books in order for such purpose. - HC
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High Court Rules Challenges to Section 94-A (1) of Income Tax Act, 1961 and 2013 Notification Unfounded.
Case-Laws - HC : Challenges to Section 94-A (1) of the Income Tax Act, 1961, the Notification dated 1.11.2013 and the Press Release dated 1.11.2013 are not sustainable in law - HC
Customs
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Retracted Confession: Timing and Truthfulness Key to Credibility; Remains Binding and Usable in Related Depositions.
Case-Laws - AT : Even if the confession is retracted, the time within which such retraction has been made and the veracity of the retraction play a vital role for believability thereof - Confession binds the author and against whom the deposition has been made. - AT
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Second-hand goods restricted under Foreign Trade Policy, except capital goods; defective shafts classified as non-restricted.
Case-Laws - AT : By virtue of para 2.17 of the hand book of procedures under Foreign Trade Policy, all second hand goods except second hand capital goods, are only restricted - Defective shafts are not restricted goods - AT
Wealth-tax
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Residential Property Use Not Limited to Residence, Exemption if Let Out 300+ Days per Year: Wealth-tax Act Sec 2(ea)(i)(4.
Case-Laws - AT : Section 2(ea)(i)(4) of the W.T Act does not contemplate the usage of residential property only for residential purpose. We find that this section only says the residential property that has been let out for a minimum period of three hundred days in a previous year is eligible for exemption. - AT
Service Tax
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Goods or services for client inputs taxed under business auxiliary service as per Section 65(19).
Case-Laws - AT : Demand - Procurement of goods or services, which are inputs for the client are to be classifiable and taxable under business auxiliary service u/s 65(19) - AT
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Payment Labeled as 'Brokerage' Not Necessarily Taxable Under Service Tax Laws for Corporate Entities.
Case-Laws - AT : Tax liability - Banking and other financial services - Merely because the remuneration is designated as 'brokerage' and because the recipient of that 'brokerage' is a 'body corporate', the transaction cannot be taxable - AT
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Tax on Financial Services Effective from Sept 10, 2004, u/s 65(105)(zm); Applies to Brokers Receiving Fees.
Case-Laws - AT : Banking and other financial services - Tax would be leviable with effect from 10th September 2004 u/s 65(105)(zm), before it was under Section 65(105)(zp), only if a person is a broker dealing in the savings bonds and received brokerage as the fee thereon - AT
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Abatement Allowed for Construction Services to 100% EOU Despite Initial CENVAT Credit Availment Under Notification No. 1/2006-ST.
Case-Laws - AT : Abatement under notification no. 1/2006-ST dated 1.3.2006 - Commercial or industrial construction service rendered to 100% EOU - Denial of substantial benefit of abatement owing to availment of CENVAT credit, does not appear to be equitable particularly as the amount has been made good - Abetement allowed - AT
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Free Supplies Excluded from Gross Amount in Construction Services under Notification No. 15/2004-ST, Amended by 4/2005-ST.
Case-Laws - AT : Inclusion of free supplies values in gross receipts - Commercial or industrial construction service - Value of free supplies by service recipient do not comprise the gross amount charged under Notification No. 15/2004-ST, including the Explanation thereto as introduced by Notification No. 4/2005-ST - AT
Central Excise
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Dabur Chyawanprash Classified as Ayurvedic Medicament Under CETH 30.03, Includes Awaleha Variants.
Case-Laws - AT : Dabur Chyawanprash (Awaleha Special & Awaleha with Ashtawarg) should be classified as Ayurvedic medicaments under CETH 30.03 - AT
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"TATA INDICOM" Telephones Eligible for SSI Exemption; Use Not Considered Branding Under Para-4.
Case-Laws - AT : Telephones cleared by the appellants bearing the name of “TATA INDICOM” to the telephone service provider does not amount to usage of other's Brand to attract para-4 of SSI notification and we do not find any infirmity in the impugned order to the extent of allowing SSI exemption benefit to the goods cleared bearing the name of “TATA INDICOM”. - AT
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Transporter Records Insufficient for Clandestine Removal Allegations Without Corroborating Evidence.
Case-Laws - AT : Clandestine removal cannot be sustained based merely on transporters records which are not corroborated by any other evidence.- AT
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Conversion of Sand Ores into Concentrates is Manufacturing per Section 2(f)(ii) & Chapter Note 4, Chapter 26, Central Excise Act.
Case-Laws - AT : Processes carried out on sand Ores result into conversion of ores to concentrate accordingly manufacture under clause (ii) of section 2(f) read with Chapter Note 4 to chapter 26 of CETA,1985 - AT
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Iron Ore Processing Now Considered Manufacturing Under Chapter Note 4, Chapter 26, Subject to Excise Duty.
Case-Laws - AT : Application of processes of crushing, grinding, screening and washing and grading of iron ore, converts it into iron ore concentrates and accordingly in view of the chapter note 4 of chapter 26 becomes manufacture and leviable to Excise duty - AT
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Entity Penalized for Not Registering Under Central Excise After Exceeding Rs. One Crore Exemption Limit.
Case-Laws - AT : Non obtaining of Central Excise registration on reaching full exemption limit of Rs. One Crore -Penalty confirmed - AT
VAT
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High Court Rules: Omissions in "D" Form Details Don't Justify Certificate Disallowance.
Case-Laws - HC : Disallowance - Certificates in "D" form - Mere omission to refer to the purchase order or to fill in the date of issue of the form are not the valid grounds to discard the certificate - HC
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Tobacco Products Detained Can Be Released for Transport, Not Sale, with Proper Documentation to Satisfy Authorities.
Case-Laws - HC : Detained of tobacco products as banned products - When the goods are not intended for sale but is intended for transportation then after being satisfied by the revenue on production of the relevant documents by the Transporter, can release the goods - HC
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