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RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes Israel-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITAT TRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum Leasing I-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITAT Technology Board okays funding of Dhruva Space's Solar Array Project I-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITAT Health Secy visits Bilthoven Biologicals, discusses production of Polio Vaccine I-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITAT Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide I-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITAT Delhi HC says conspiracy against PM is a crime against State I-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITAT Brazil makes new rules to streamline consumption taxes I-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITAT Biden signs rules mandating airlines to give automatic refunds for delayed or cancelled flights I-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITAT BYD trying to redefine luxury for new EV variants GST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HC SC asks EC to submit more info on reliability of EVMs Right to Sleep - A Legal lullaby


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New Delhi, October 11, 2017 Entry Tax - There is no clash between Entry 52 of State List and Entry 83 of Union List relating to Customs in Constitution of India: Supreme Court

Hyderabad, October 11, 2017 I-T - Distributor of cellular company can only be termed as 'agent', and hence, merely by providing services of connection or talk-time to subscribers would not characterize relationship as 'principal to principal': ITAT

Kolkata, October 11, 2017 I-T - CIT (Exemption) should examine 'objects' and not 'activities', before deciding eligibility of Charitable Trust to Grant of registration: ITAT

New Delhi, October 11, 2017 CX - No part of electricity has been used for manufacture of excisable goods since such plant was never set up � CENVAT credit on capital goods used to set up captive power plant is inadmissible: CESTAT

Chennai, October 11, 2017 ST - Retaining commission amount and only remitting remaining portion of proceeds will have to be treated as saving of forex and by implication is akin to receipt of monies in convertible forex: CESTAT

Ernakulam, October 10, 2017 I-T - When acquisition of agri land was for non-agri purposes and assessee was not carrying on any agricultural activity on date of sale, land ceases to be agricultural in nature - No exemption from capital gains tax: HC

New Delhi, October 10, 2017 I-T - Allowing 100% deduction u/s 80IA which is linked to profits, would be anathema to special scheme: Supreme Court

New Delhi, October 10, 2017 Cus - Liquor sales from DFS - Acts of the employees done in their official capacity are binding on the employer who cannot escape vicarious responsibility: CESTAT

Mumbai, October 10, 2017 CX - Goods cleared under Notf 34/2006 cannot be treated as exempted since buyer of goods debits CE duty involved in their SFIS certificate: CESTAT

Mumbai, October 09, 2017 CBDT - When there is proven exigency and fact that officer has his wife posted with Railways with accommodation, there is no valid ground for court to invoke writ powers to grant relief by staying his transfer order: HC

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April 24, 2024

TP - Arm's length computation of corporate guarantees issued by assessee in favour of its AEs abroad taken at 1% which has been approved for earlier A.Ys, cannot be disturbed in absence of contrary: ITAT

April 24, 2024

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April 25, 2024

IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC

April 25, 2024

SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC

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