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Italy imposes USD 10 mn fine on Amazon for unfair business practices Caste Census is my mission, says Rahul Right to Sleep - A Legal lullaby US warns Pak of punitive sanctions against trade deal with Iran I-T- Income surrendered before approaching Settlement Commission not covered u/s 115BBE, where this provision did not exist during relevant AYs: HC Chinese companies decry anti-subsidy probe by EU I-T- Entire interest expenditure is allowable as deduction if loan funds is not diverted for non-income earning activities/personal purposes : ITAT UK’s key water supplier, Thames Water, slips into financial quagmire I-T- Sale consideration cannot be considered as unexplained cash credit if sale takes place in online platform and sale consideration is received through stock broker in banking channels : ITAT UK to send military aid package worth USD 619 mn to Ukraine I-T- Section 69C includes expenditures reflected in account books, as well as those discovered during Search & Seizure for which no valid explanation is forthcoming from assessee: ITAT US regulator bans non-compete agreements by employees I-T- Penalty imposed u/s 273B upheld where assessee unable to provide just cause for failure to file audit report within prescribed due date as per Section 44AB: ITAT Palestinian PM unveils new reform package I-T- Assessee cannot contest validity of penalty notice on grounds of irrelevant provision not being struck off, by highlighting such defect for the first time before ITAT itself: ITAT Air India, Nippon Airways join hands for travel between India and Japan Govt receives 7 bids for giga-scale Advanced Chemistry Cell under PLI 10 killed as two Malaysian Military copters crash I-T- Lower authorities erred in disallowing long term capital loss : ITAT SC grills Baba Ramdev & Balkrishna in misleading ad case 1351 candidates to contest in phase 3 of LS Elections I-T- Revisionary order u/s 263 invalidated where passed in ignorance of repeated factual submissions to prove that original assessment order is not erroneous or prejudicial to revenue's interests: ITAT Indian Coast Guard, Oman Coast Guard to jointly combat transnational illegal activities at sea ST - Department cannot retain any amount which is otherwise not payable by the Assessee; nothing acts as embargo on assessee's right to demand refund of tax paid under misaken notion: CESTAT AFMS, ICMR join hands to undertake biomedical research for Armed Forces Cus - If noticee seeks Cross Examination of such persons, same should be granted, appellant will produce all documentary evidence before Adjudicating Authority in support of their claim that seized gold is part of their normally procured gold in course of their commercial transactions: CESTAT


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New Delhi, March 01, 2019 I-T - Revisionary powers cannot be exercised if AO has made ample enquiries on issue before framing order u/s 143(3): ITAT

Chennai, February 28, 2019 I-T - AO is obliged to examine financial stringency of & irreparable injury to assessee when disposing off stay petition: HC

New Delhi, February 28, 2019 I-T - CSR expenses incurred prior to April 1, 2015 are allowable as amendment vide Explanation 2 by Finance Act, 2014 are prospective in nature: ITAT

Kochi, February 28, 2019 I-T - Merely by signing JDA, capital gains provisions do not get attracted as assessee did not receive any consideration: ITAT

New Delhi, February 28, 2019 CX - Clandestine removal of manufactured goods in garb of trading - authenticity of records maintained and submitted to govt. authorities cannot be doubted unless and until proved otherwise: CESTAT

New Delhi, February 27, 2019 I-T - Provisions of Sec 260A are obligatory for High Court to frame questions of law & answer them where arguments of both parties have been heard - dismissal of appeal without doing so is unsustainable: SC

Ernakulam, February 27, 2019 I-T - Once taxpayer revises his return, he can claim interest on refund only from date of revised return, since delay in claiming enhanced refund is attributable to him: HC

Chennai, February 27, 2019 I-T - Attachment of movable property merits partial withdrawal where such attachment adversely affects third parties despite being no party to such tax dispute: HC

Mumbai, February 27, 2019 ST - A contractual obligation or collection of consideration for same cannot be equated to providing of service: CESTAT

New Delhi, February 26, 2019 I-T - If interest liability accrued during relevant A.Y was not actually paid back and rather adjusted into further bank loan, then it is not eligible for deduction u/s 43B: SC

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