| INCOME TAX ACT |
| SECTION 2(15) |
| CHARITABLE OR RELIGIOUS PURPOSE |
Medical relief : Where
assessee-hospital was providing medical relief to people at large, merely
because surplus was generated from hospital activities could not be ground
to deny exemption under section 11 to assessee - (2015) 57 taxmann.com 333 (Pune -
Trib.)
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| SECTION 11 |
| CHARITABLE OR RELIGIOUS TRUST - EXEMPTION OF INCOME FROM
PROPERTY HELD UNDER |
Depreciation : Assessee-trust could
claim deduction on assets, cost of which had been fully allowed as
application of income for purpose of claiming exemption under section 11 -
(2015) 57 taxmann.com 185 (Chennai -
Trib.)
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| SECTION 13 |
| CHARITABLE OR RELIGIOUS TRUST - DENIAL OF
EXEMPTION |
Sub-section (1)(c) : Section 13 is
attracted where amount paid to interested person is in excess to what may
be reasonably paid for such services and not where any amount is paid by
way of salary or allowance to any interested person out of reserves of
trust or institution, for services rendered by such person to trust or
institution - (2015) 57 taxmann.com 333 (Pune -
Trib.)
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| SECTION 28(i) |
| BUSINESS INCOME - YEAR IN WHICH
CHARGEABLE |
Membership fee : Where
assessee-company was providing facility cards to members on payment of
one-time fee, and services were rendered partially in a year, revenue
earning was to be spread over period of membership - (2015) 56 taxmann.com 429 (Gujarat)
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| SECTION 28(iv) |
| BUSINESS INCOME - VALUE OF ANY BENEFIT OR PERQUISITE ARISING
FROM BUSINESS OR EXERCISE OF PROFESSION |
Waiver of loan : Where assessee, a
sick industrial unit, took loan from bank to purchase capital assets,
subsequent waiver of said loan by bank in one time settlement did not
result in revenue receipt which could be brought to tax in hands of
assessee under section 28(iv) - (2015) 57 taxmann.com 208 (Bombay)
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| SECTION 32 |
| DEPRECIATION - ADDITIONAL DEPRECIATION |
Windmill : Where assessee engaged in
business of production and export of textiles, entered into separate
business of generation of power and installed one windmill, it would be
eligible for additional depreciation on windmill under section 32(1)(iia) -
(2015) 57 taxmann.com 285 (Madras)
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| SECTION 32AB |
| INVESTMENT DEPOSIT ACCOUNT |
Computation of deduction : Deduction
could be allowed under section 32AB on lease rent received on leasing of
manufacturing unit which had been treated as business income - (2015) 57 taxmann.com 281 (Gujarat)
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| SECTION 41(1) |
| REMISSION OR CESSATION OF TRADING
LIABILITY |
Reassessment : Once first
reassessment initiated on ground that assessee had availed deduction in
respect of ceased liability without offering it to tax, was cancelled,
second reassessment could not be initiated if no new information is
available - (2015) 57 taxmann.com 280 (Mumbai - Trib.)
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| SECTION 68 |
| CASH CREDIT |
Gifts : Where identity and
relationship of donor was known, amount received by assessee by way of
gifts from said donor could not be treated as income from undisclosed
source - (2015) 57 taxmann.com 84 (Delhi)
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| SECTION 80-IB |
| DEDUCTIONS - PROFITS AND GAINS FROM INDUSTRIAL UNDERTAKINGS
OTHER THAN INFRASTRUCTURE DEVELOPMENT UNDERTAKINGS |
Housing projects : Where assessee,
after development of infrastructure facility project, transferred same to
Government for which it was paid cost plus margin of income by Government,
it would be entitled to deduction under section 80-IB - (2015) 57 taxmann.com 325 (Delhi)
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| SECTION 80-IC |
| DEDUCTIONS - SPECIAL PROVISIONS IN RESPECT OF CERTAIN
UNDERTAKINGS OR ENTERPRISES IN CERTAIN SPECIAL CATEGORY
STATES |
Commencement of business :
Certificate of Deputy Director of Industries showing date of
commencement of commercial production is a positive proof that assessee was
manufacturing/assembling unit, entitled to deduction under section 80-IC -
(2015) 57 taxmann.com 227 (Delhi -
Trib.)
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| SECTION 92C |
| TRANSFER PRICING - COMPUTATION OF ARM'S LENGTH
PRICE |
Comparables and adjustments/Comparables
– Illustration : Company engaged in rendering of provision
of software services to its AEs is not comparable to a company engaged in
development of software products - (2015) 57 taxmann.com 215 (Pune -
Trib.)
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Comparables and adjustments/Comparables
– Illustration : Company providing back office support
services to its AEs is not comparable to a giant company having own
significant intangibles and eminent brand value - (2015) 57 taxmann.com 215 (Pune -
Trib.)
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Comparables and adjustments/comparables
– illustrations : Where TPO made addition to assessee's ALP
in respect of rendering call centre services to its parent company located
abroad, since comparables selected by TPO were involved in fraud on account
of which their financial results could not be considered as correct and
reliable, impugned addition was to be set aside - (2015) 57 taxmann.com 368 (Pune -
Trib.)
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| COMPANIES ACT, 2013 |
| SECTION 74 |
| PUBLIC DEPOSITS - DEPOSITS ACCEPTED BEFORE COMMENCEMENT OF
THIS ACT |
Where Unitech Ltd. failed to repay matured FDs despite
making profits yet it wanted to reschedule payment thereof, it was to be
directed to repay the deposits as rescheduling of deposits was not allowed
under new Companies Act, 2013 and, accordingly, directed the 'Unitech Ltd'
to repay deposits within 30 days. - (2015) 57 taxmann.com 423 (CLB - New
Delhi) |
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| COMPETITION ACT |
| SECTION 3 |
| PROHIBITION OF AGREEMENTS - ANTI-COMPETITIVE
AGREEMENTS |
Where informant was aggrieved by fact that real estate
companies were using political connections to seek approvals from
Government of Haryana to legitimise their otherwise illegal actions, same
could not come within purview of section 3 - (2015) 57 taxmann.com 324 (CCI) |
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| CENTRAL EXCISE ACT |
| SECTION 2(f) |
| MANUFACTURE |
Extended period cannot be invoked, if, even as per
department, there were doubts as to whether process amounted to manufacture
- (2015) 57 taxmann.com 319 (SC) |
|
Sterilization does not produce a transformation in
'syringes and needles' and does not lead to any value addition in said
product; it merely removes bacteria which settles on syringe's and needle's
surface and therefore, process of sterilization of 'syringes and needles'
for medical purposes does not amount to manufacture - (2015) 57 taxmann.com 314 (SC) |
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| SECTION 11A |
| RECOVERY - OF DUTY OR TAX NOT LEVIED/PAID OR
SHORT-LEVIED/PAID OR ERRONEOUSLY REFUNDED - INVOCATION OF EXTENDED PERIOD
OF LIMITATION |
Cutting larger size plates into small size and shapes
using gas cutting machines, as per requirements of customers amounts to
manufacture - (2015) 57 taxmann.com 319 (SC) |
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| CUSTOMS ACT |
| SECTION 110A |
| CONFISCATION - PROVISIONAL RELEASE OF SEIZED GOODS,
DOCUMENTS AND THINGS PENDING ADJUDICATION |
Where Single Judge of High Court ordered 'provisional
release of seized goods pending adjudication' on payment of 40 per cent of
differential duty as pre-deposit and executing a bond of 100 per cent
value, Division Bench modified said order increasing pre-deposit to 50 per
cent of differential duty while maintaining bond amount - (2015) 57 taxmann.com 156 (Madras) |
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| SECTION 128 |
| APPEALS - CONDONATION OF DELAY - COMMISSIONER
(APPEALS) |
In case of delay beyond 90 days in filing of appeal
before Commissioner (Appeals), no appeal can be entertained by Commissioner
(Appeals) and even High Court cannot condone such delay - (2015) 57 taxmann.com 424 (Madras) |
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| CST & VAT |
| SECTION 4 OF KARNATAKA VALUE ADDED
TAX ACT, 2003 |
| CLASSIFICATION OF GOODS |
Where assessee was engaged in business of execution of
works contract, iron and steel, cement, PVC pipes and RCC pipes used in
same form in execution of works contract during assessment year 2005-06
were liable to be taxed at rate of 4 per cent - (2015) 57 taxmann.com 335 (Karnataka) |
|
| SECTION 15 OF KARNATAKA VALUE
ADDED TAX ACT, 2003 |
| COMPOSITION OF TAX |
In a works contract involving transfer of goods and
labour, composition tax is payable under section 15(1)(b) on total
consideration of works contract and segregation of composite contract is
not permissible under section 15(1)(b) - (2015) 57 taxmann.com 317 (Karnataka) |
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| CENVAT CREDIT RULES |
| RULE 2(l) |
| CENVAT CREDIT - INPUT SERVICE - PROCUREMENT OF
INPUTS/CAPITAL GOODS |
Construction and related services availed for getting
a railway siding constructed for transport of 'coal' to captive power plant
for generation of electricity for use in manufacture, amounts to 'services
used in or in relation to procurement of inputs' and eligible for input
service credit - (2015) 57 taxmann.com 155 (New Delhi -
CESTAT) |
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| CORPORATE LAWS |
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