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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 15, 2014 I-T - Whether when assessee fails to produce any proof towards claim that goods inventorized at time of Survey also included goods received from customers, such claim is to be construed as afterthought - YES: ITAT

Jaipur, July 15, 2014 Delay in filing supplementary drawback claims - No sufficient grounds to condone delay - Order of Revisional authority upheld: High Court

New Delhi, July 13, 2014 Tobacco kills about 8 to 9 lakhs Indians annually

New York, July 13, 2014 Half of world's population living in cities; another 2.5 bn expected by 2050

New Delhi, July 09, 2014 Survey pins hope on food market reforms, fewer exemptions in income tax & single rate GST

New Delhi, July 09, 2014 India has second fastest growing Services Sector at 9%

Bangalore, July 09, 2014 ST - legal consultancy service for obtaining patent rights abroad - better classified and more specifically covered by Legal Consultancy Service: CESTAT

Allahabad, July 09, 2014 Income tax - Whether when assessee files estimate of income showing NIL advance tax liability on basis of loss returns of previous years it attracts penal provisions of Sec 273(2)(c) - NO: HC

Mumbai, July 09, 2014 CENVAT - Credit availed without receiving capital goods - Assets register seems to be cooked up one and cannot be accepted as reliable piece of evidence to substantiate appellant's claim that they had received capital goods but had removed the same later - Pre-deposit ordered: CESTAT

Ahmedabad, July 08, 2014 CX - If contention of Revenue that since applicant has admitted duty liability before Settlement Commission duty had to be upheld straightaway is accepted, in that case, there is no question of further adjudication by CE Officer : HC

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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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