Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Denial of the concessional tax regime under s. 115BAC solely for late filing of Form 10IE was held unsustainable where the assessee had opted for the new regime, filed Form 10IE along with the revised return, and the form was available to the AO during assessment. Relying on coordinate bench decisions treating the timing requirement for Form 10IE as directory rather than mandatory, it was held that substantial compliance is met if the form is on record at the time of assessment and the benefit cannot be refused on a technical lapse. The AO was directed to consider Form 10IE and grant the lower tax rates; the appeal was allowed. - ITAT
Denial of the concessional tax regime under s. 115BAC solely for late filing of Form 10IE was held unsustainable where the assessee had opted for the new regime, filed Form 10IE along with the revised return, and the form was available to the AO during assessment. Relying on coordinate bench decisions treating the timing requirement for Form 10IE as directory rather than mandatory, it was held that substantial compliance is met if the form is on record at the time of assessment and the benefit cannot be refused on a technical lapse. The AO was directed to consider Form 10IE and grant the lower tax rates; the appeal was allowed. - ITAT
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