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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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New Delhi, December 23, 2016 I-T - Whether amounts of advance tax paid prior to declaration under Kar Vivad Samadhan Scheme, can be adjusted while determining tax arrears - NO: HC

Mumbai, December 23, 2016 ST - Prior to 2006, in order to get covered under Consulting Engineer Service, person should be professionally qualified engineer/Engineering firm -manufacturer transferring technology in r/o bulk drugs not taxable: CESTAT

Mumbai, December 23, 2016 Cus - What has been imported is second hand tunneling equipment in semi knocked down condition and not 'parts and components' of second hand machine - no special import licence required: CESTAT

Ahmedabad, December 22, 2016 Cus - ADD on Soda Ash - Midterm review - DGAD findings that no injury to domestic industry despite continued dumping - Government permitted to issue notification revoking ADD, but it would be applicable only after final hearing: HC

Cuttack, December 22, 2016 I-T - Whether transfer of case from one ITO to another due to restructuring of Department is not valid even if assessee is not prejudiced � NO: HC

Mumbai, December 22, 2016 Cus - MRP has to be declared by importer if there is going to be resale of goods - it is undisputed that tiles were imported for personal use - CVD discharged on declared value plus Customs duty is correct: CESTAT

Mumbai, December 22, 2016 ST - Appellant is repeating infraction in not depositing ST collected from customers - no merits in arguments that ST liability having been discharged, penalties should be set aside: CESTAT

Ahmedabad, December 21, 2016 Wealth Tax: Whether 'Stock Exchange Card' of recognised Stock Exchange held by non-defaulting member is an 'Asset' in hands of assessee and hence exigible to wealth tax � YES: HC

Chennai, December 21, 2016 Commissioner (Appeals) allowed appeal for earlier period - Ordering pre-deposit of full duty in another appeal of identical issue is not correct - Petitioner is entitled for full waiver: HC

Mumbai, December 21, 2016 ST - S.80 of FA, 1994 - During the relevant period there could be doubt as to whether ST liability arises on amount received as commission on sale of items manufactured by someone else -Penalty set aside: CESTAT

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April 18, 2024 | New Delhi

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

April 18, 2024 | New Delhi

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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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