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Jio turns world’s top telco in terms of data traffic India takes part in 'Institutionalization of SMART Government for Improving Service Delivery' in London Gadkari faints during campaign; Heat takes toll on his health 'Sunflowers were the first ones to know' - film by FTII student selected at Cannes SARFAESI Act - Award of interest on auction money at rate applicable to fixed deposits is not a correct view and rate of interest deserves to be enhanced: SC (See 'TIOLCorplaws')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 SC asks EC to submit more info on reliability of EVMs GST - Without considering reply on merits, proper officer has held that reply is unsatisfactory and, therefore, he is left with no alternative but to create demand - Order set aside: 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 - Work contracts executed before 18 July 2022 - Petitioners should file refund claims before respondent agitating grievance and same be examined and orders passed within 4 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 to send military aid package worth USD 619 mn to Ukraine US regulator bans non-compete agreements by employees Air India, Nippon Airways join hands for travel between India and Japan SC grills Baba Ramdev & Balkrishna in misleading ad case


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New Delhi, July 20, 2015 I-T - Whether�if sale of development rights is recognized on accrual basis as per terms of agreements entered into with customers, every receipt is to be treated as income - NO: HC

Mumbai, July 20, 2015 CX - Only for sake of absence of record on date of destruction of sample, without there being any finding as to clearance or sale of any sample products, no adverse inference can be drawn based on presumptions: CESTAT

New Delhi, July 19, 2015 Govt committed to balanced Real Estate Bill protecting both consumers & developers

Ahmedabad, July 18, 2015 ST - Penalty u/s 78 - Recovering Tax from service recipients and not paying same to Dept has to be considered as evasion of ST - penalty is imposable: CESTAT

New Delhi, July 17, 2015 13 States opt to embrace backend systems of GSTN; Model GST law being drafted

New Delhi, July 17, 2015 CX/CUS/ST - Extension of Stay beyond 365 days, whether CESTAT has power - Matter referred to Larger Bench: High Court

Mumbai, July 17, 2015 CX - Fraudulent CENVAT credit - so long as admittedly material shown in invoices were not received, credit of such invoices cannot be allowed -Conduct of appellant clearly shows that they are in collusion with dealer - Demand & penalties upheld: CESTAT

Chennai, July 17, 2015 Income tax - Whether when assessee is in business of marketing bulk drugs and one of its ventures runs into losses, it can be deemed to be new enterprise and same is to be treated as capital expenditure - NO: HC

Ernakulam, July 17, 2015 Refund of Service Tax erroneously paid - Provisions of Sec 11B are not applicable - When payment was effected, if it has no colour of legality, Sec 11B is not attracted - High Court allows Writ Petition against rejection of refund claim

Mumbai, July 16, 2015 ST - A works contract can be vivisected prior to 01.06.2007 and subjected to levy of service tax under 'Erection, Installation and Commissioning service' - CESTAT by Majority

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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 24, 2024 | 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 24, 2024

TP - Arm's length computation of corporate guarantees issued by assessee in favour of its AEs abroad taken at 1% which has been approved for earlier A.Ys, cannot be disturbed in absence of contrary: ITAT

April 24, 2024

I-T- DTAA does not get triggered at all when a domestic company pays DDT u/s 115-O of the Act : ITAT

April 24, 2024

PMLA - Considering money trail and involvement of applicant in crime he is not entitled for anticipatory bail : HC

April 24, 2024

Competition Act - Informant has neither referred to any particular agreement nor provided any document which suggest existence of anti-competitive agreement : CCI

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