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IndiGo orders 30 Airbus A350s for long hauls Filing of Form 10A & 10AB: CBDT extends due date to June 30 RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes CPGRAMS recognized as best practice in Commonwealth Secretaries of public service Israel-Iran War: A close shave for Global Economy but for how long?KABIL, CSIR ink MoU for Advancing Geophysical Investigations I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITAT TRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum Leasing I-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITAT Technology Board okays funding of Dhruva Space's Solar Array Project I-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITAT Health Secy visits Bilthoven Biologicals, discusses production of Polio Vaccine I-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITAT Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide I-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITAT Delhi HC says conspiracy against PM is a crime against State I-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITAT Brazil makes new rules to streamline consumption taxes I-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITAT Biden signs rules mandating airlines to give automatic refunds for delayed or cancelled flights I-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITAT BYD trying to redefine luxury for new EV variants GST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HC SC asks EC to submit more info on reliability of EVMs Right to Sleep - A Legal lullaby


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Mumbai, May 22, 2015 Income tax - Whether sum received after tripartite agreement is to be taxed as capital gains when assessee is engaged in such activity with respect to only one property - YES: HC

Bangalore, May 22, 2015 Service Tax - providing of 'gear boys' and 'deck foremen' by association of stevedores to its members - Prima facie covered by High Court decisions - Stay petition allowed unconditionally

New Delhi, May 21, 2015 ST - CENVAT - Third party MV insurance - As per Rule 9, whatever ST has been paid, applicant is entitled to take credit - Question whether applicant has availed credit of input service without receiving service shall be dealt with at time of final hearing - Stay granted: CESTAT

New Delhi, May 21, 2015 Income tax - Whether insertion of expression 'even if delay in disposing of appeal is not attributable to assessee' by virtue of Finance Act, 2008, is violative of non-discrimination clause of Article 14 of Constitution - YES: HC

Mumbai, May 21, 2015 CENVAT - ISD neither provides any service nor pays any ST and, therefore, there is no question of assessment - Contention that credit cannot be denied unless assessment of distribution of credit made at ISD is rejected outright: CESTAT

New Delhi, May 20, 2015 Cus - export is not liable to duty but misdeclaration of higher value to claim higher drawback is breach of law and is one of modality of hawala - violation of provisions of Sec 113 proved - redemption fine imposable: CESTAT

Chennai, May 20, 2015 Customs - Suspension of CHA licence after a lapse of more than five years from date of importation - order of suspension is set aside - SCN with pre-determined conclusions is not valid: High Court

New Delhi, May 20, 2015 ST - CAI, USA were providing services to customers of appellants - As CAI was engaged in providing services in relation to provision of service on behalf of client, which in this case is appellants, prima facie, services are classifiable under BAS - Pre-deposit ordered: CESTAT

Shimla, May 20, 2015 Income tax - Whether conversion of gram dal into besan amounts to manufacture and assessee is eligible for Sec 80IB(4) benefits - YES: HC

New Delhi, May 19, 2015 Central Excise - Settlement Commission - High Court has power to decide principle of law on admitted facts: Supreme Court

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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 25, 2024 | New Delhi

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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 25, 2024

IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC

April 25, 2024

SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC

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