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Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast US imposes fresh sanctions against Iranian drone production IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects Voting for General Elections 2024 commences tomorrow Global warming up to 3 degrees to cost 10% of global GDP: Study Nexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of Agency GST implications for Corporate Debtor under IBC I-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HC Brazil’s proposal to tax super-rich globally finds many takers in G20 Group I-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITAT CPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence Minister I-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITAT Biden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliers I-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITAT US Poll: Biden trumps Trump in money race by USD 75 mn I-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITAT Netanyahu says Israel to decide how and when to respond to Iran’s aggression I-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITAT Google slays costs by laying off staffers & shifting roles outside US I-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITAT Heavy downpours drown Dubai; Airport issues travel advisory Cus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HC HM pledges to make India completely Maoist-free GST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HC Microsoft to inject USD 1.5 bn in AI Group G42 of UAE GST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HC Canadian budget proposes more taxes on higher income groups & tax credits for EVs World leaders appeal for quick ratification of UN Ocean Treaty


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Mumbai, January 31, 2017 CX - Principle of 'comity of courts' - By no stretch can an overlap even be contemplated in jurisdiction of officials entrusted with task of collection of central excise: CESTAT

Mumbai, January 31, 2017 ST - Since tax itself was not leviable during disputed period, manner of discharging that tax liability cannot be subject of demand u/s 73 r/w rule 14 of CCR: CESTAT

Pune, January 31, 2017 I-T - Whether sale of SIM cards or recharge coupons at discounted rate to distributors, is 'commission' and hence liable to TDS u/s 194H � NO: ITAT

Mumbai, January 31, 2017 CX - Appellants are liable to pay tax on entire value of goods recovered by them as per contract - excluding value of guarantee is without any authority: CESTAT

Allahabad, January 30, 2017 I-T - Whether when assessee is to return technical knowhow to non-resident after 5 years, royalty paid is to be treated as revenue expenditure - YES: HC

Hyderabad , January 30, 2017 When assessee stopped paying duty as directed by Department, question of suppression does not arise - Adjudicating Authorities should be cautious and apply mind as pre-deposit is mandatory after 06.08.2014: CESTAT

Mumbai, January 30, 2017 CX - Freight per se is not includible in AV, therefore, merely because transportation charges are not mentioned in excise invoice, same cannot be charged to excise duty: CESTAT

Ahmedabad, January 30, 2017 I-T - Whether advances can be treated as deemed dividend in hands of assessee, if he is not shareholder having substantial voting rights in lender company - NO: HC

Mumbai, January 30, 2017 ST - Appellant had recovered rent for Computer colour display machines supplied to their dealers - no tax liability arises under Financial Services: CESTAT

Hyderabad, January 28, 2017 CX - Refund of duty in CENVAT credit - Since the Company is referred to BIFR, Petitioner's request to credit amount to Bank account to enable discharge of some loan is allowed: High Court

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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.

April 18, 2024 | New Delhi

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast

April 18, 2024 | New Delhi

IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects

April 18, 2024 | New Delhi

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April 17, 2024 | New Delhi

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April 16, 2024

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April 2024 Edition

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

April 18, 2024

INTL - Expenses incurred by a non-resident individual towards obtaining Special Power of Attorney & anciliary expenses, for purpose of transferring property located in India, are covered u/s 48(i) & allowable: ITAT

April 18, 2024

TP - If assessee has suo-moto offered guarantee commission and no inherent risk arises to financial services utilized by AE from assessee, then no further guarantee adjustment is required: ITAT

April 18, 2024

Trade Marks Act - Issue of grant of registration can be remitted back to Examiner as trade mark could not be rejected and is required to be advertised : HC

April 18, 2024

SARFAESI Act - If any borrower is aggrieved by action of private bank/ARC, then borrower has to avail remedy under SARFAESI Act and no writ petition can lie or is maintainable : HC

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