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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 GST - Petitioner has an appellate remedy against the impugned order - As petition was filed within the original period of limitation, it is just and appropriate that petitioner be permitted to present statutory appeal: HC World leaders appeal for quick ratification of UN Ocean Treaty GST - Once the notification itself has been declared as ultra vires, applying it would amount to applying an illegal notification: HC UK House debates ban on smoking GST - Transfer of development rights is amenable to GST and cannot be brought within the purview of Entry 5 of Schedule-III: HC Global economy to grow at 3.2% in current year and also 2025: IMF GST - Challenge to notification 11/2017-CTR clarifying the aspect of transfer of development rights being attracted to GST/TGST is devoid of merits: HC Great Barrier Reef in Australia suffers serious bleaching GST - Conclusions were recorded in the assessment order without providing a personal hearing - Order set aside and matter remanded: HC US to impose fresh sanctions on Iran’s missile programme Cus - Mere fact that Commissioner of Customs has filed an affidavit would not denude an officer, otherwise empowered under the Act/Rules to issue and adjudicate a SCN even though the officer may be below the rank of Commissioner: HC Delhi Police nabs woman for thieving luxury SUVs Cus - As wife of appellant has already been penalized for the offence related to importation of BMW M5 Car, no reason found to impose penalty against appellant for same offence: CESTAT


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Mumbai, January 19, 2016 Cus - Question of limitation has neither been raised during original proceeding nor has it been incorporated as a ground of appeal or by MA - Findings cannot be given without opportunity to Revenue: CESTAT

Mumbai, January 18, 2016 No justification to hold that Parliament intended to encourage trading of goods rather than manufacturing - Parliamentary intent has to be gathered from the language used - If words are clear, there is no scope for interpretation: HC

New Delhi, January 18, 2016 I-T - Whether findings recorded during course of assessment in previous year can be invoked to foreclose findings in current assessment - NO: SC

Mumbai, January 18, 2016 ST - Definition of Business Support Services talks about an entity rendering customer relationship management services and not customer relationship by appellant, authorized car dealer, per se: CESTAT

Mumbai, January 18, 2016 I-T - Whether CBDT Circular restricting Revenue from filing appeal in High Court u/s 260 having tax effect of less than Rs. 20 lakhs, would also apply to pending References u/s 256 - YES: HC

Ahmedabad, January 18, 2016 CX - Jurisdiction - Unit located in Dadra & Nagar Haveli - Order passed by Commissioner, Vapi - No jurisdiction for Gujarat HC - Appeal lies with Bombay HC - No need to refer issue to Larger Bench: HC

Mumbai, January 18, 2016 ST - Notfn. 32/2004 - GTA service - It will be a very absurd situation when 'A' is availing exemption notification and 'B' is required to fulfill condition of notification: CESTAT

New Delhi, January 17, 2016 PM unveils regulatory sops and tax concessions to incentivise Start-up India movement

Mumbai, January 17, 2016 CENVAT - Since, undisputedly job worker is carrying out job work of appellants' goods, therefore it cannot be presumed that service provided by service provider at job workers' premises is not for and on behalf of appellant: CESTAT

New Delhi, January 16, 2016 Bihar VAT Commissioner signs MoU with DGFT on forex data sharing; 13 States are on board now

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April 17, 2024

TP - ALP adjustment cannot be made with reference to entire turnover of assessee and ought to be restricted to value of international transactions: ITAT

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