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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, September 23, 2014 ST - Prima facie no ST liability arises on construction of low cost housing & Vipassana Kendra for Nagpur Improvement Trust & Municipal Council: CESTAT

Mumbai, September 23, 2014 Income tax - Whether Clause (d) of Sec 80IB(10), condition linked to date of approval of housing project, will not apply to any project sanctioned prior to Mar 31, 2005 - YES: HC

Mumbai, September 23, 2014 CX - Notfn 6/2006 - Certificate has to be issued only post supply as condition requires certificate to effect that 'such goods are cleared for intended use' - Commissioner has misconceived that certificate is required prior to clearance: CESTAT

Mumbai, September 22, 2014 ST - Leasing of land by Corporation on own account to pvt individuals on commercial consideration cannot be said to be sovereign function at all as normally understood - land given on lease is amenable to ST under Renting of Immovable property w.e.f 1.7.2010 - Pre-deposit ordered of Rs185 cr: CESTAT

New Delhi, September 22, 2014 CENVAT - Merely because supplier's name is Surya Roshni it is absurd to infer that they had supplied "tube lights" & not MS Tubes without taking slightest effort by checking from their website as to whether they have a steel division: CESTAT

Mumbai, September 22, 2014 Merely because postal department pays ST on Speed Post, it cannot be held that appellant need not discharge ST liability in respect of business support/auxiliary service rendered by him in canvassing business for postal department - Pre-deposit ordered: CESTAT

New Delhi, September 22, 2014 Income tax - Whether interest earned on bill discounting with credit institutions is to be included in interest income u/s 2(7) - NO: High Court

Chennai, September 22, 2014 CX - Cenvatted Moulds cleared under Rule 57S(8) to Job worker without payment of duty - Demand of duty on ground that consignor cannot be treated as job worker as no raw material was supplied by Principal manufacturer - No error in order of Tribunal setting aside demand: HC

Cairns, September 21, 2014 G20 commits to enable DCs to expand revenue bases & okays Common Reporting Standard for automatic exchange of tax information

Chennai, September 21, 2014 ST - Service in relation to Transmission & distribution of electricity - S.11C exemption notification is applicable in respect of tax which was 'not paid' - appellant not eligible to get refund of tax already paid: 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.

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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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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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