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I-T- Denial of deduction u/s 80IC can create perception of genuine hardship, where claimant paid tax in excess of what was due; order denying deduction merits re-consideration: HC Israel launches missile attack on Iran EC holds Video-Conference with over 250 Observers of Phase 2 polls Germany disfavours Brazil’s proposal to tax super-rich I-T- If material found during search are not incriminating in nature AO can not made any addition u/s 153A in respect of unabated assessment: ITAT Govt appoints Dinesh Tripathi as New Navy Chief AFMS, IIT Kanpur to develop tech to address health problems of soldiers FBI sirens against Chinese hackers eyeing US infrastructure I-T - Interest earned on short term deposit out of borrowed funds during period prior to commencement of business, is totally foreign to business objects of assessee, and not eligible for set off: ITAT Kenya’s top military commanders perish in copter crash CBIC notifies Customs exchange rates w.e.f. April 19, 2024 Meta shares ‘Most Intelligent’ AI assistant built on Llama model ST - Service Tax paid in respect of export of services and cannot be subject to levy of Service Tax under Notfn 18/2009-ST, denial of exemption on procedural lapses cannot be sustained: CESTAT Dengue cases soaring in US - Close to ‘Emergency situation’: UN Agency Nexus between Election Manifesto and Budget 2024 in July!Half of China’s major cities sinking, reveals Study CX - The warranty service is eligible for credit though the same is provided after clearance of final products: CESTAT


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Mumbai, April 09, 2015 CX - Notfn 3/2001 - Condition no 41 mandated that manufacturer should not have taken credit of duty paid on chassis - Assessee did not reverse Modvat Credit at time of removal of goods or after removal - Tribunal should not have interfered in O-in-O denying exemption - Revenue appeal allowed: HC

Chennai, April 08, 2015 Signages assembled at site of IOCL bunks cannot be treated as immovable property and are excisable - No error in order of Tribunal confirming demand: HC

New Delhi, April 08, 2015 Income tax - Whether if excess stock found in assessee's premises is later claimed to be of sister concern which has also paid tax on same, assessee can still be penalised with tax liability on same - NO: Supreme Court

Mumbai, April 08, 2015 ST - Appellants providing Telecom Service - CENVAT not admissible on towers and pre-fabricated buildings - As returns were filed periodically and audit was also conducted by department, demands hit by limitation: CESTAT

New Delhi, April 07, 2015 I-T - Whether if there are losses in export business of assessee, but profits of indigenous business outweigh such losses and net result is profit, deduction u/s 80HHC would still be available to assessee - NO: Supreme Court

Mumbai, April 07, 2015 ST - Activity undertaken by DICGC is 'General Insurance Business' - Benefit of notfn. 22/2006 not available - When CBEC itself was not clear or entertained doubts about taxability, it cannot be alleged that appellant suppressed facts: CESTAT

Chennai, April 07, 2015 ST - Exemption to stem cell banks - Notification 4/2014 is only prospective - Benefit of exemption cannot be applied retrospectively: HC

Hyderabad, April 07, 2015 Income tax - Whether contribution made to National Cooperative Union out of net profit is allowable business expenditure - NO: ITAT

Chennai, April 07, 2015 Cus - Once confiscation is ordered, penalty is automatic - High Court sets aside order of Tribunal vacating penalty u/s 112 and restores order of Commissioner

New Delhi, April 06, 2015 I-T - Whether even if amendment to Sec 80HHC(3) creates two categories of exporters on turnover basis and prescribes two conditions with retro effect for those whose turnover is more than Rs 10 Crore, both are to be treated similarly - YES: SC

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April 19, 2024

I-T- Onus of establishing receipt of services from Associated Enterprise has to be discharged on year to year basis by assessee company: ITAT

April 19, 2024

DTAA - Payment received on account of subscription, professional and training services cannot be deemed to be Fees for Technical service and be taxed as Royalty, where no technical know-how is made available: ITAT

April 19, 2024

Companies Act - Charges of professional misconduct in SCN are proved for which monetary penalty can be imposed : NFRA

April 19, 2024

PMLA - Application for anticipatory bail can be rejected as there is failure on part of applicant to appear before trial Court despite service of bailable warrant : HC

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