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Farmers squat on railway tracks; 54 Amritsar-route trains cancelled 4 killed & 19 hurt as truck bangs into tractor-trolley Musk defers India’s trip citing heavy Tesla obligations India needs to design legislative pills to euthanise tax-induced expatriation!I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITAT Torrential rains cause havoc in Pakistan; 87 killed I-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITAT US imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to Pakistan Dubai terribly water-logged as it has no storm drains ST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTAT EU online content rules tightened against adult content firms Cus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTAT EV market cools off in US; Ford, GM eyeing gas-powered trucks Apple China tosses out WhatsApp & Threads from App store after being ordered China announces launch of new military cyber corps Railways operates record number of additional Trains in Summer Season 2024 GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC Nexus between Election Manifesto and Budget 2024 in July!


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New Delhi, July 05, 2014 Global food prices declining but it's rising in India; FM for system to anticipate price rise

New Delhi, July 04, 2014 I-T - Whether when assessee had transferred property but sale deed was prevented from being excuted by legal tangles, any investment made out of capital gains from such sale can be allowed Sec 54 benefits - YES: SC

Mumbai, July 04, 2014 CX - Duty demanded on Cigarettes at higher rates by retro application of FA, 2012 - Provisional Collection of Taxes Act does not provide for recovery of any dues when rates are amended upwards subsequent to introduction of bill - Stay granted: CESTAT

Mumbai, July 04, 2014 Income tax - Whether initiation of reassessment proceedings cannot be faulted with if there is evidence indicating less than full and true disclosure of facts during normal assessment - YES: HC

Mumbai, July 04, 2014 CENVAT - Appellant taking credit on inputs purchased by job workers without receiving goods in premises was provided by erstwhile CER, 1944 - similar provision is implied from rule 4(5)(a) inasmuch as if final products are allowed from job worker's premises it implies job worker could procure part of inputs needed for manufacturing: CESTAT

Mumbai, July 04, 2014 ST - BAS - Applicants acting as agent on behalf of cane growers for providing service to sugar factory - activity undertaken by agent in relation to sale & purchase of agri produce is exempted as per Notifn no. 13/03 - stay granted: CESTAT

Mumbai, July 03, 2014 ST - Booklet titled 'Lifesaver' brought out by appellant gives benefits of yoga and also lists names of 20 asanas which were being taught in institution - appellants are clearly providing service as covered under 'Health and fitness service' - Appeals dismissed: CESTAT

Mumbai, July 03, 2014 Refund of SAD - Condition 2(b) of Notifn no 102/07, requiring endorsement that no credit of SAD shall be admissible is merely procedural - purpose of such endorsement could be achieved when duty element itself was not specified in invoice: CESTAT Larger Bench

Mumbai, July 03, 2014 CENVAT - Appellant, a manufacturer of excisable goods taking credit of tax paid on services used in Trading - question of taking credit on input service and its utilization thereof cannot be permitted at all prior to 01.04.2011 - Pre-deposit ordered: CESTAT

New Delhi, July 03, 2014 Income tax - Whether when assessee suo motu makes certain disallowance as per Rule 8D, further disallowance as per Sec 14A is warranted - NO: ITAT

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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

April 19, 2024

I-T- Onus of establishing receipt of services from Associated Enterprise has to be discharged on year to year basis by assessee company: ITAT

April 19, 2024

DTAA - Payment received on account of subscription, professional and training services cannot be deemed to be Fees for Technical service and be taxed as Royalty, where no technical know-how is made available: ITAT

April 19, 2024

Companies Act - Charges of professional misconduct in SCN are proved for which monetary penalty can be imposed : NFRA

April 19, 2024

PMLA - Application for anticipatory bail can be rejected as there is failure on part of applicant to appear before trial Court despite service of bailable warrant : HC

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