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Farmers squat on railway tracks; 54 Amritsar-route trains cancelled 4 killed & 19 hurt as truck bangs into tractor-trolley Musk defers India’s trip citing heavy Tesla obligations India 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 : ITAT Torrential rains cause havoc in Pakistan; 87 killed I-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITAT US imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to Pakistan Dubai terribly water-logged as it has no storm drains ST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTAT EU online content rules tightened against adult content firms Cus - 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: CESTAT EV market cools off in US; Ford, GM eyeing gas-powered trucks Apple China tosses out WhatsApp & Threads from App store after being ordered China announces launch of new military cyber corps Railways operates record number of additional Trains in Summer Season 2024 GST - 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: HC Nexus between Election Manifesto and Budget 2024 in July!


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Kolkata, April 12, 2016 Cus - CTH 90 pertains to medical instruments whereas heading 8421 pertains to goods used for industrial purposes & do not appear to have any medical use - classification of dialyzers should be under 9018 9031 - Circular quashed: HC

Mumbai, April 12, 2016 ST - FA, 1994 does not envisage determination of taxability from accounting entries - Appellant booking cargo space in shipping lines and, thereafter, allotting space to customers - With space purchased being allocable only by appellant, shipping line fails in description as client whose services are promoted: CESTAT

Mumbai, April 12, 2016 ST - Transfer of technical knowhow is not consultancy envisaged for taxation by section 65(105)(za) of FA, 1994 - Demand set aside: CESTAT

Chennai, April 12, 2016 I-T - Whether upfront payment made for acquisition of leasehold rights over an immovable property for 99 years can be treated as rental income and assessee is liable to TDS u/s 194I - NO: HC

New Delhi, April 12, 2016 KVSS, 1998 - Since there is no procedure of 'admitting' a Reference Application, mere proof of pendency of RA before CESTAT should be sufficient for accepting declaration filed by Petitioner under KVSS: High Court

Mumbai, April 11, 2016 ST - Merely because appellant is registered as a broker with SEBI does not render all its activities to be that of brokering - Handling of application forms for an intending subscriber cannot constitute brokering in securities because securities do not exist at that stage: CESTAT

Ahmedabad, April 11, 2016 I-T-Whether exemption is available to sum of compensation received against compulstory acquisition of agricultural land situated within municipal limits - YES: HC

Patna, April 11, 2016 Unless it can be shown that order passed by authority while discharging quasi-judicial function was taken malafide, for a wrong decision taken, there cannot be disciplinary action as it is not a misconduct: HC

Mumbai, April 11, 2016 CX - Once main noticee in SCN against whom duty was proposed have paid duty, interest and 25% of penalty within one month, proceedings also stand concluded against co-noticees against whom penal proceedings u/r 26 of CER, 2002 are proposed: CESTAT

Hyderabad, April 11, 2016 CENVAT Credit - Common input services for manufacturing and trading - It is appropriate to apply method of computing for reversal provided by legislature effective from 01/04/2011 for the earlier period also: CESTAT

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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 2024 Edition

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

April 19, 2024

I-T- Onus of establishing receipt of services from Associated Enterprise has to be discharged on year to year basis by assessee company: ITAT

April 19, 2024

DTAA - Payment received on account of subscription, professional and training services cannot be deemed to be Fees for Technical service and be taxed as Royalty, where no technical know-how is made available: ITAT

April 19, 2024

Companies Act - Charges of professional misconduct in SCN are proved for which monetary penalty can be imposed : NFRA

April 19, 2024

PMLA - Application for anticipatory bail can be rejected as there is failure on part of applicant to appear before trial Court despite service of bailable warrant : HC

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