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Right to Sleep - A Legal lullaby US warns Pak of punitive sanctions against trade deal with Iran I-T- Income surrendered before approaching Settlement Commission not covered u/s 115BBE, where this provision did not exist during relevant AYs: HC Chinese companies decry anti-subsidy probe by EU I-T- Entire interest expenditure is allowable as deduction if loan funds is not diverted for non-income earning activities/personal purposes : ITAT UK’s key water supplier, Thames Water, slips into financial quagmire I-T- Sale consideration cannot be considered as unexplained cash credit if sale takes place in online platform and sale consideration is received through stock broker in banking channels : ITAT UK to send military aid package worth USD 619 mn to Ukraine I-T- Section 69C includes expenditures reflected in account books, as well as those discovered during Search & Seizure for which no valid explanation is forthcoming from assessee: ITAT US regulator bans non-compete agreements by employees I-T- Penalty imposed u/s 273B upheld where assessee unable to provide just cause for failure to file audit report within prescribed due date as per Section 44AB: ITAT Palestinian PM unveils new reform package I-T- Assessee cannot contest validity of penalty notice on grounds of irrelevant provision not being struck off, by highlighting such defect for the first time before ITAT itself: ITAT Air India, Nippon Airways join hands for travel between India and Japan Govt receives 7 bids for giga-scale Advanced Chemistry Cell under PLI 10 killed as two Malaysian Military copters crash I-T- Lower authorities erred in disallowing long term capital loss : ITAT SC grills Baba Ramdev & Balkrishna in misleading ad case 1351 candidates to contest in phase 3 of LS Elections I-T- Revisionary order u/s 263 invalidated where passed in ignorance of repeated factual submissions to prove that original assessment order is not erroneous or prejudicial to revenue's interests: ITAT Indian Coast Guard, Oman Coast Guard to jointly combat transnational illegal activities at sea ST - Department cannot retain any amount which is otherwise not payable by the Assessee; nothing acts as embargo on assessee's right to demand refund of tax paid under misaken notion: CESTAT AFMS, ICMR join hands to undertake biomedical research for Armed Forces Cus - If noticee seeks Cross Examination of such persons, same should be granted, appellant will produce all documentary evidence before Adjudicating Authority in support of their claim that seized gold is part of their normally procured gold in course of their commercial transactions: CESTAT


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Ahmedabad, July 17, 2014 Cus - Clarification issued by DGFT will be binding on Customs so far as ITC restrictions are concerned under FTP - Marine Gas Oil in fuel tanks form an integral part of ship and is freely importable - appeals allowed: CESTAT

Mumbai, July 17, 2014 CX - Imported cosmetics before being cleared into DTA are affixed with MRP - appellant discharging CVD on MRP - CCE demanding CE duty alleging manufacture- appellant contention that entire exercise is revenue neutral not looked into by adjudicating authority - matter remanded: CESTAT

Allahabad, July 17, 2014 Income tax - Whether if Revenue declines to grant exemption u/s 10(23C)(vi), such denial automatically leads to refusal of registration u/s 12AA - NO: HC

Bangalore, July 17, 2014 ST - Appellant absent in hearing - Requests for remand without pre-deposit as an earlier remand is pending with Commissioner - Pre-deposit of Rs Six Crore ordered : CESTAT

New Delhi, July 16, 2014 Anti-dumping duty - in case Govt wishes to extend levy during sunset review period, it has to comply with terms of that provision and do so before expiry of original period - attempt to levy duty through later notification is without authority of law: HC

Mumbai, July 16, 2014 CENVAT - Distribution of ST through ISD is only facility provided under Rules and does not deal with recovery - credit, if taken wrongly, has to be recovered from person who has availed - Pre-deposit ordered: CESTAT

Mumbai, July 16, 2014 I-T - Whether facts relating to AY 2005-06 can be assumed to be known to Revenue when it came to be known only in AY 2009-10 that interest on which deduction was claimed u/s 57 was infact related to home loan - NO: HC

Mumbai, July 16, 2014 Cus - Revocation of CHA licence cannot be said to be an order passed by Commissioner as adjudicating authority - in absence of a specific provision in CHALR, 1984, Revenue cannot appeal against such order: CESTAT

Ahmedabad, July 15, 2014 Cus - Respondent lower authority as well as this Tribunal are creatures of Statute, & cannot take any decision contrary to same - remedy lies elsewhere: CESTAT

Mumbai, July 15, 2014 CENVAT - Appellant engages agency for ad products - advertising agency prepares adverts & utilizes service of another company for broadcasting ads - ST paid on broadcasting service is eligible as credit to appellant: CESTAT

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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 23, 2024

PMLA - Applicant is not entitled for grant of anticipatory bail u/s 45 of PMLA as Court does not find any reasonable ground to believe that applicant is not guilty of crime : HC

April 23, 2024

SARFAESI Act - Petition has been filed to overreach recovery proceedings, wherein Petitioners have been found to be liable to pay certain amount so as to circumvent provisions of statutory appeal : HC

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