Jurisprudentiol – Tuesday's cases
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Banking and financial services received from abroad - not taxable prior to 18.04.2006: CESTAT
IN as much as the issue is covered by Hon'ble Mumbai High Court and confirmed by Hon'ble Supreme Court [], the High Court found no infirmity in the order of Commissioner(Appeals).
Income Tax
Whether assessee is entitled to interest u/s 244 on sum which is refundable after adjustment of MAT credit u/s 115JAA - Yes: Delhi Hc
THE question before the High Court is - Whether assessee is entitled to interest u/s 244A on the amount which became refundable to the assessee due to the adjustment of MAT credit u/s 115JAA. And the verdict goes in favour of the assessee.
Central Excise
ROM - Rectification order can be passed after six months - () overruled:
SECTION 35C(2) contain two parts, limitation prescribed i.e. six months under the Central Excise Act is applicable for disposal of the application for rectification to the first part, wherein the Tribunal or Authority, exercises suo-moto power and the said period of limitation for disposal of the proceeding for rectification would not be applicable in respect to the application filed by the aggrieved party.
Until Tomorrow with more DDT
Have a Nice Day.
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