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ST - Chit Funds - Tax was not paid under mistake of law but upon demand by tax authorities - Refund not having been filed within time was rightly rejected: HC GST - Without considering the reply on merits, proper officer, without applying his mind has held that the reply is filed is unsatisfactory and, therefore, he is left with no alternative but to create demand - Order set aside and matter remitted: HC GST - Cancellation of registration retrospectively - Show Cause Notice and the impugned order are bereft of any details, accordingly the same cannot be sustained: HC GST - Registration could not have been cancelled retrospectively for the period for which returns were filed and taxpayer was compliant: HC GST - Notfn 11/2017-CTR amended by 03/2022-CTR - Work contracts executed before 18 July 2022 - Petitioners should file refund claims before respondent authorities agitating their grievance and the same be examined and orders passed within four months: HC Italy imposes USD 10 mn fine on Amazon for unfair business practices GST - Entire tax liability has been realised by appropriating the amount from the petitioner's bank account, therefore, Revenue interest stands fully secured - Since tax proposal was confirmed without participation of petitioner, order set aside and matter remanded: HC Caste Census is my mission, says Rahul Right to Sleep - A Legal lullaby US warns Pak of punitive sanctions against trade deal with Iran I-T- Income surrendered before approaching Settlement Commission not covered u/s 115BBE, where this provision did not exist during relevant AYs: HC Chinese companies decry anti-subsidy probe by EU I-T- Entire interest expenditure is allowable as deduction if loan funds is not diverted for non-income earning activities/personal purposes : ITAT UK’s key water supplier, Thames Water, slips into financial quagmire I-T- Sale consideration cannot be considered as unexplained cash credit if sale takes place in online platform and sale consideration is received through stock broker in banking channels : ITAT UK to send military aid package worth USD 619 mn to Ukraine I-T- Section 69C includes expenditures reflected in account books, as well as those discovered during Search & Seizure for which no valid explanation is forthcoming from assessee: ITAT US regulator bans non-compete agreements by employees I-T- Penalty imposed u/s 273B upheld where assessee unable to provide just cause for failure to file audit report within prescribed due date as per Section 44AB: ITAT Palestinian PM unveils new reform package I-T- Assessee cannot contest validity of penalty notice on grounds of irrelevant provision not being struck off, by highlighting such defect for the first time before ITAT itself: ITAT Air India, Nippon Airways join hands for travel between India and Japan Govt receives 7 bids for giga-scale Advanced Chemistry Cell under PLI 10 killed as two Malaysian Military copters crash I-T- Lower authorities erred in disallowing long term capital loss : ITAT SC grills Baba Ramdev & Balkrishna in misleading ad case 1351 candidates to contest in phase 3 of LS Elections I-T- Revisionary order u/s 263 invalidated where passed in ignorance of repeated factual submissions to prove that original assessment order is not erroneous or prejudicial to revenue's interests: ITAT Indian Coast Guard, Oman Coast Guard to jointly combat transnational illegal activities at sea ST - Department cannot retain any amount which is otherwise not payable by the Assessee; nothing acts as embargo on assessee's right to demand refund of tax paid under misaken notion: CESTAT AFMS, ICMR join hands to undertake biomedical research for Armed Forces Cus - If noticee seeks Cross Examination of such persons, same should be granted, appellant will produce all documentary evidence before Adjudicating Authority in support of their claim that seized gold is part of their normally procured gold in course of their commercial transactions: CESTAT


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New Delhi, March 03, 2016 Interest tax - Whether reassessment can be initiated even if there is no assessment order - NO: Supreme Court

New Delhi, March 03, 2016 Competition Act, 2002: Whether Director General of Health services qualifies as enterprise under Section 2(h) of Competition Act and be subject to DG investigation for alleged abuse of its dominant position - YES : COMPAT

Mumbai, March 03, 2016 ST - Since appellant has no requirement of 'advertising agency service' for manufacture and export of goods, tax demanded is not on consideration for a service received in India but a tax on funds transferred in a cross-border transaction - Such a tax is not contemplated in FA, 1994 - appeal allowed: CESTAT

New Delhi, March 02, 2016 Central Excise - Refund - Interest on delayed refund - Section 11BB - Interest payable if refund not paid within three months from date of application: SC

Mumbai, February 28, 2016 ST - Agreement between appellants and vendor is for transfer of immoveable property by way of sale - Transaction is squarely covered by exclusion from definition of service u/s 65B and, therefore, outside ambit of tax: CESTAT

New Delhi, February 27, 2016 Indian equity market relatively resilient; Credit offtake for industry sector slowing: Economic Survey

Chandigarh, February 27, 2016 I-T - Whether when there are four registered co-owners of a house property, assessee is entitled to deduction against only 25% of interest paid on housing loan - YES: HC

Ahmedabad, February 26, 2016 CX - Credit of Additional duty leviable under CTA, 1975 - Amendment made in CCR3(7) in 2009 by notfn. 22/2009-CX(NT) is only for purpose of removal of doubts and not for any other reason - denial of credit for earlier period has no rationale: CESTAT

Kolkata, February 26, 2016 Settlement - Explanation inserted by FA, 2014 in s. 32O(1)(i) is consistent with statutory intent & a reiteration of statutory provisions in sec 32E(1), hence clarificatory - bar from filing subsequent application consequent upon penalty in earlier case was always in vogue: HC

Mumbai, February 26, 2016 CX - Least that is expected of last fact finding authority is to consider record of submissions in detail - Tribunal has failed to perform its duty and in accordance with law - Matter remanded: High Court

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