HC quashed order of Tribunal imposing payment of 30% of total demand on assessee for granting stay against recovery

GST/EXCISE/ST/VAT: Where Assessing Authority had imposed penalty upon assessee and Tribunal insisted upon payment of 30 per cent of demand as a condition precedent for granting stay against recovery, pending disposal of appeal, Tribunal was directed to dispose of appeal without insistence for payment of 30 per cent of demand

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Tax Cuts Not Enough to Lift Sentiment On Auto: Jefferies

Tax Cuts Not Enough to Lift Sentiment On Auto: Jefferies

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Interest rate prevailing in country were loan was consumed to be considered for determining arm length of interest

TRANSFER PRICING: Where assessee advanced loans to its AE situated in Germany, rate of interest prevalent in Germany being country in which loan was to be consumed, was determinative of arm's length rate of interest charged by assessee

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Sum paid to foreign entities for rendering sales procurement services outside India not taxable as royalty or FTS

TRANSFER PRICING: Payment made by assessee-company to foreign entities for rendering sales procurement services abroad, could not be regarded as royalty or fee for technical services and, thus, said payment was not taxable in India

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Difference between market price and face value of equity shares issued to AE couldn't be treated as deemed loan

TRANSFER PRICING : Where assessee Indian company issued equity shares to its non-resident AE at lower price than its fair market value, difference between market price and face value of equity shares could not be treated as deemed loan to AE and, thus, TP addition made on account of notional interest on such deemed loan was to be deleted

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Setting up of discount price control mechanism by excise Dept. on L1 liquor licenses wasn't anti-competitive

COMPETITION LAW: Where informant engaged in business of manufacturing and marketing of beer had alleged that Department of Excise (DoE) had contravened provisions of section 3(4) by setting a discount price control mechanism on L1 licensees, in view of fact that DoE was not involved in production, storage, distribution or sale of beer and no vertical agreement existed in present matter, need of examination of present matter in framework of provisions of section 3(4) was ruled out

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Genuineness of loss couldn't be doubted just because assessee sold mutual funds immediately after earning dividend

INCOME TAX: Where assessee purchased certain units of mutual funds and earned dividend of certain amount on same and soon after earning dividend, a redemption was taken place wherin assessee had suffered loss, since assessee filed several documentary evidences to prove genuineness of loss suffered by it on sale of mutual funds and, further, revenue admittedly found that subjected transaction completely falls out of clutches of section 94(7), assessee was entitled to claim set off of said loss ag

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