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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 Israel-Iran War: A close shave for Global Economy but for how long?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, March 13, 2015 Cus - We wonder if Tribunal has passed lengthy order (of 66 pages) at interlocutory stage, when will it get time to take up Appeals for final disposal - Appeal partly allowed: High Court

Kolkata, March 12, 2015 Service Tax - Fencing on Indo Bangladesh Border - No erection, Commissioning - No Service Tax: CESTAT

Chennai, March 12, 2015 Income Tax - Whether Income tax Act contains any specific provisions which vest power in authorities to grant stay or permit assessee to pay tax in instalments - NO: HC

Mumbai, March 12, 2015 CX - Against order passed by Commissioner in terms of rule 4(4) of CER, 2002 appeal lies before Tribunal: CESTAT

Mumbai, March 11, 2015 ST - Rebate claim - appeal against Order passed by Commissioner(A) lies before CESTAT - Tribunal has clearly missed and omitted from consideration subsection (2A) of section 86 of FA, 1994 - Revenue appeal allowed: High Court

New Delhi, March 11, 2015 Income tax - Whether mere acceptance of proof of commission payments, agreements between parties and affidavits, by AO, will debar him from questioning whether expenses claimed u/s 37 are allowable - NO: Supreme Court

New Delhi, March 11, 2015 Income tax - Whether, for purpose of Sec 14A read with Rule 8D, there can be a situation where disallowance of expenditure can swallow entire tax exempt income - NO: HC

Mumbai, March 11, 2015 CX - benefit of partial exemption not availed - goods cleared at Tariff rate of duty under claim of rebate by debit in CENVAT account - this was not case of wrongful availment of credit - Revenue's appeal dismissed: HC

Mumbai, March 10, 2015 Even employees of smaller organization having less than 250 workers will be hungry and be required to be provided with canteen facility - Outdoor catering service is an Input service - Revenue appeal dismissed: CESTAT

New Delhi, March 10, 2015 Income tax - Whether initiation of Sec 153C proceedings against company which no longer exists on account of its merger with another company is bad in law - YES: ITAT

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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

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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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