Judgements and Orders, Supreme Court and High courts of India
Non compete fees
CA Praveen Chopra 26 March 2008 at 14:12
Non-compete fee paid to ward off competition but no period recorded in agreement - Since no capital asset created nor any advantage of enduring nature acquired, it is business expenditure, eligible for deduction
Service Tax Credit
CA Praveen Chopra 26 March 2008 at 12:14
Security Services utilized by appellant for residential colony - whether eligible for Cenvat Credit - Matter remanded as Commissioner(A) has passed a non-speaking order
Central Excise - Duty paid before Show cause Notice
CA Praveen Chopra 25 March 2008 at 15:17
Central Excise - Duty paid before Show cause Notice - interest and penalty liable : Karnataka High Court
Excise duty and sales tax under section 80HHC(3)
CA Praveen Chopra 24 March 2008 at 18:58
Excise duty and sales tax cannot form part of 'total turnover' u/s 80HHC(3), otherwise formula becomes unworkable : ITAT Special Bench
Input Services Credit
CA Praveen Chopra 24 March 2008 at 18:58
Exempted and dutiable services – common input services - Not maintaining separate records cannot be a ground for denying Input Service Credit in respect of service tax paid on services referred in Rule 6(5) of CCRs, 2004 : Tribunal
Section 80-IA-Synco Industries vs. ITO (Supreme Court)
CA Jonu Jain 20 March 2008 at 18:14
(a) If the assessee has suffered a loss in one unit, the same has to be set-off against the profits of the undertaking eligible for deduction u/s 80IA etc and if the resultant figure is a loss, no deduction under Chapter VI-A is allowable; (b) Whe
India-Malaysia treaty- taxed in country where income accrued
CA Jonu Jain 19 March 2008 at 18:34
The Supreme Court ruled that dividend income received from a foreign company is not liable for taxation when there is a tax treaty with the country the company is based in, which stipulates that dividend is to be taxed at source. The court has endors
Section 80IB
CA Praveen Chopra 19 March 2008 at 15:28
Profits and gains from any business of industrial undertaking - no direct nexus required between activity of an industrial undertaking and profits and gains
Section 4 -Central Excise Act 1944
CA Praveen Chopra 19 March 2008 at 14:51
“Whether the Central Excise duty is payable on the assessable value determined under Section 4 of the Central Excise Act as claimed by Respondents or with reference to M.R.P. under Section 4A of the Central Excise Act as claimed by the Revenue? – the
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