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Interest earned from Income Tax Department & staff loans to be assessed under 'other sources'; Interest on Credit sales is business income; When profit is negative, deduction under Section 80 HHC is nil
valuation -Merely because supplier was holding 30% of equity in share capital of buyer does not establish mutuality of interest - Burden to prove undervaluation lies on Revenue
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
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 - interest and penalty liable : Karnataka High Court
Excise duty and sales tax cannot form part of 'total turnover' u/s 80HHC(3), otherwise formula becomes unworkable : ITAT Special Bench
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
Profits and gains from any business of industrial undertaking - no direct nexus required between activity of an industrial undertaking and profits and gains
“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
Food for thought – Service Tax paid by Outdoor Caterers for running Canteen Services in a factory is an Input Service for availing Credit : Tribunal
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