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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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Mumbai, January 29, 2019 ST - Rule 6(3)(c) of CCR, 2004 and Rule 6(1) of STR, 1994 should be read harmoniously - notwithstanding excess use of credit, consequence cannot lead to recovery of credit: CESTAT

Mumbai, January 28, 2019 CX - Definition of ‘Place of removal' in s.4 of CEA, 1944 is relevant only for determination of assessable value and cannot be applied for determining rate of duty: CESTAT

New Delhi, January 28, 2019 ST - Whatever be constraint assessee was faced with, it was duty bound to remit amounts collected by it towards service tax, as required by law - penalty rightly imposed: High Court

Kolkata, January 28, 2019 I-T - Merely because loan creditors have not appeared in response to summons cannot be sole reason for making addition u/s 68: ITAT

Jaipur, January 25, 2019 I-T - Benefits u/s 54F cannot be denied merely where cost of purchase & construction of new house is incurred from Savings account: ITAT

Chennai, January 25, 2019 Cus - CFS - Suspension to be made by invoking Regulation 11(2) of HCCAR, 2009 must be on known principle that 'prevention is better than cure': HC

Chennai, January 25, 2019 ST - Words 'by reason of fraud or collusion' or 'willful misstatement' or 'suppression of facts' are to be read in conjunction with ' intent to evade payment of service tax': HC

New Delhi, January 24, 2019 Cus - Used Multi-function printers were not prohibited but restricted items for import: Supreme Court LB

Ahmedabad, January 24, 2019 Cus - Mere fact that wastage is in excess of IO norms does not indicate that imported fabric has not been used for manufacture of export articles: High Court

Ahmedabad, January 24, 2019 I-T - An unregistered document 'Banachitthi' is enforceable under provisions of law as evidence of sale of plot of land: ITAT

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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.

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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

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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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