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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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Mumbai, June 02, 2015 CX - Rebate Fraud of Rs.11.61 crores - Penalty of Rs.1 crore on Supdt. CEX - It may be true that applicant is out of job for some period, however, this cannot imply that applicant has no means - Pre-deposit ordered of Rs.5 lakhs: CESTAT

Mumbai, June 01, 2015 Repairs & maintenance Service of wind mills used for producing electricity situated away from factory is also Input Service - No merit in appeals by Revenue: High Court

Bangalore, June 01, 2015 Income tax - Whether when objects of Trust are charitable, merely because of non-furnishing of details as to how said amount is proposed to be spent in future, assessee can be denied benefits u/s 11 - NO: HC

Mumbai, June 01, 2015 CX - Rule 4 - Storing excisable goods outside factory w.o payment of duty - Exceptional circumstances undoubtedly would imply brief period - Permission sought is for very long period - there is nothing wrong in reasoning given by Commr. while rejecting request: CESTAT

New Delhi, May 31, 2015 CBDT finalises New ITRs but online version to take time; Return filing date to be extended upto Aug 31�

New Delhi, May 31, 2015 India mulling to extend e-Tourist Visa facility to 150 countries and 25 Airports by March 26, 2016: HM

New Delhi, May 31, 2015 MSMEs New Revival Framework to focus on rehabilitation and exit norms

New Delhi, May 30, 2015 Services Sector logs over 10% growth in last fiscal; Financial, professional & real estate services record 11.5% growth

Mumbai, May 29, 2015 Import of Rolls Royce Ghost - If Govt in its wisdom introduces a scheme under FTDR Act, benefit of such legislation is to be made available by Customs - MoC is responsible for FTP and has final say: CESTAT

Mumbai, May 29, 2015 ST - Coaching - curriculum imparts skills to students in accounting, which enables them to get employment - Factual matrix recorded by Commissioner(A) not contested by Revenue hence are to be held as correct - Benefit of notification 24/2004 available: 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.

April 18, 2024 | New Delhi

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

April 18, 2024 | New Delhi

IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects

April 18, 2024 | New Delhi

Voting for General Elections 2024 commences tomorrow

April 17, 2024 | New Delhi

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April 16, 2024

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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 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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