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I-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HC China asks Blinken to select between cooperation or confrontation I-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITAT Honda to set up USD 11 bn EV plant in Canada I-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITAT Imran Khan banned from flaying State Institutions I-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITAT Pro-Palestine demonstration spreads across US universities; 100 arrested I-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITAT NATO asks China to stop backing Russia if keen to forge close ties with West Cus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTAT NY top court quashes conviction of Harvey Weinstein in rape case Weather prediction normal for phase 2 poll day IndiGo orders 30 Airbus A350s for long hauls ST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes REC avails SACE-Covered Green Loan for 60.5 Billion Japanese Yen Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide Cus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTAT DoNER discusses Development of Tourism in North East CX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT


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Mumbai, September 25, 2014 I-T - Whether interest paid to sister concern is to be disallowed merely on ground that such interest was not paid by assessee to any other parties from whom it had taken advances - NO: ITAT

Chennai, September 25, 2014 Seizure of FC - Tribunal fell in error by converting absolute confiscation into confiscation with option to redeem - Also allowing 25,000 USD as permissible amount is not correct - Question of law answered in favour of Revenue: HC

Mumbai, September 25, 2014 ST - activities undertaken involves writing of scripts, producing program & providing musical background - prima facie activity does not fall within definition of 'sound recording' - bonafide case for grant of stay: CESTAT

Bangalore, September 24, 2014 CX - Refund of CENVAT Credit - Rule 5 and notifications issued thereunder - Interim order on 16 Common/Legal Issues passed: CESTAT

New Delhi, September 24, 2014 ST - Notfn 22/2006 - Since exemption Notification clearly limits grant of immunity only to taxable services provided by or to RBI, benefit prima facie not available to State Bank of Patiala - Matter referred to Larger Bench: CESTAT

New Delhi, September 24, 2014 Income tax - Whether when assessee fails to produce PAN numbers of parties and also pays no interest on huge loans taken from them, it goes to establish that loan transactions were not genuine - YES: HC

Mumbai, September 24, 2014 ST - Visual images of 'Bruce Lee' received by appellant from foreign service provider for which they pay royalty - property embodied in visual images falls within definition of copyright as 'artistic work' and is excluded from IPR Service: CESTAT

Bangalore, September 24, 2014 Used capital goods cleared by DTA unit to EHTP under CT 3 certificates without reversing credit - Demand on ground that CT 3 clearance is allowed only if goods are obtained directly from manufacturer - HC answers question of law in favour of assessee

Bangalore, September 23, 2014 CENVAT Credit is admissible on fuel used for manufacture of power supplied to neighboring EOU situated in same premises - factory means more than one premises - No error in order of Tribunal: HC

Mumbai, September 23, 2014 ST - Observations of adjudicating authority are quite naive & cannot be accepted - there are mistakes in order - There cannot be double demand, once by denying credit taken & second by demand of credit utilized - Matter remanded: CESTAT

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April 26, 2024

I-T - Assessee cannot be prevented from claiming that receipts from sale of software were wrongly offered as royalty, merely because such income was wrongly offered in ROI and which was not revised: ITAT

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I-T- Proceedings commenced subsequent to exercise of revisionary power u/s 263, are unsustainable, where the revisionary order itself came to be quashed: 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

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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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