News Update

Musk defers India’s trip citing heavy Tesla obligationsIndia needs to design legislative pills to euthanise tax-induced expatriation!I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITATTorrential rains cause havoc in Pakistan; 87 killedI-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITATUS imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to PakistanCX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTATDubai terribly water-logged as it has no storm drainsST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTATEU online content rules tightened against adult content firmsCus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTATEV market cools off in US; Ford, GM eyeing gas-powered trucksApple China tosses out WhatsApp & Threads from App store after being orderedChina announces launch of new military cyber corpsRailways operates record number of additional Trains in Summer Season 2024GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC1st phase polling - Close to 60% voter turnout recordedMinistry of Law to organise Conference on Criminal Justice System tomorrowGST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HCGovt appoints New Directors for 6 IITsNexus between Election Manifesto and Budget 2024 in July!Israel launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 polls
 
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Visakhapattnam, May 16, 2017
I-T - Rent receipts from letting out of commercial properties is assessable as 'income from business or profession' only: ITAT
 
Mumbai, May 16, 2017
ST - Revenue cannot raise same issue again which has attained finality intra-parties: CESTAT
 
Mumbai, May 16, 2017
CX - Crushed aluminium cans is not generated during course of manufacture but upon destruction of Aerated water on which CE duty has been remitted u/r 21 of CER, 2002 - No CE duty liability: CESTAT
 
New Delhi, May 15, 2017
CX - As there is no contrary decision of coordinate Benches for final resolution by Larger Bench, matter returned to referral Bench: CESTAT LB
 
New Delhi, May 15, 2017
ST - Refund admissible of tax paid under reverse charge on ‘Clearing and Forwarding Agent service' during period 16.10.1998 to 01.09.1999: HC
 
New Delhi, May 15, 2017
Cus - Fact that respondent authorities auctioned off goods during pendency of appeal is an act which is against letter of the law: HC
 
Allahabad, May 15, 2017
I-T - Income computed u/s 115J for period prior to enforcement of Sections 115JA & 115JB, would not attract interest u/s 234B and 234C: HC
 
Ahmedabad, May 15, 2017
CX - Concept of call book is contrary to provisions of CEA and such instructions are beyond scope of the authority of CBEC: HC
 
Mumbai, May 13, 2017
Cus - Commissioner(A), despite rendering finding of ineligibility on account of unjust enrichment, has not transferred amount sanctioned to Fund - order not sustainable in law: CESTAT
 
New Delhi, May 12, 2017
I-T - Whether merely because there is entry in object clause of business showing particular object, would be determinative of nature of income from house property - NO: SC
 
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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.