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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 CX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTAT 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 1st phase polling - Close to 60% voter turnout recorded Ministry of Law to organise Conference on Criminal Justice System tomorrow GST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HC Govt appoints New Directors for 6 IITs Nexus between Election Manifesto and Budget 2024 in July!GST - Classification - Matter which had stood examined by Principal Commissioner is being treated differently by Additional Commissioner - Prima facie , approach appears to be perverse: HC Israel launches missile attack on Iran EC holds Video-Conference with over 250 Observers of Phase 2 polls


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Ahmedabad, June 12, 2014 CX - appellant clears transformers & pays duty by availing CENVAT - prima facie denial of credit on ground that in respect of service provided of commissioning of such transformers, appellant paying ST by availing Works Contract Scheme cannot be upheld - Stay granted: CESTAT

New Delhi, June 12, 2014 Income tax - Whether for purpose of determining time-frame for completion of assessment, date on which requisition u/s 132A is made, is irrelevant - YES: HC

Mumbai, June 12, 2014 Cus - On examining goods at docks, part quantity of packed sugar was found not up to standard, hence same were not loaded � penalty imposable only on account of any default - since proper care was taken by exporter, no cause for ordering confiscation: CESTAT

Ernakulam, June 11, 2014 ST - Petitioner having failed to remit any amounts as tax in relevant years, no adjustments can be made in penalty levied, on basis of amounts paid subsequent to relevant years: HC

New York, June 11, 2014 Global economy to grow by 2.8% in 2014; Job growth continues to be 'stubbornly slow': UN Report

Mumbai, June 11, 2014 CX - Valuation - Rule 6 - appellant sells set-top boxes to M/s THIPL which in turn sell them to Tata Sky - value of remote, smart card and software includible in value of STB - demand of Rs.10.78 Cr upheld: CESTAT

New Delhi, June 11, 2014 Income tax - Whether expenditure incurred on premium paid for political risk insurance policy for safeguarding interest in its wholly owned subsidiary against unstable political environment in foreign country is allowable as business expenditure - YES: ITAT

Mumbai, June 11, 2014 ST - Tax collected but not deposited with Govt - finding by Commr(A) that there is no suppression as assessee has mentioned above factum in balance-sheet lacks merit - Revenue appeal allowed: CESTAT

New Delhi, June 10, 2014 Tribunal by Majority order sets aside demand of service tax on British Airways - Holds appellant is not liable to pay tax under reverse charge on services of online database access by overseas reservation Cos

Ahmedabad, June 10, 2014 Income tax - Whether Sec 80IA benefits cannot be denied merely because the business is in nature of works contract - YES: HC

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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

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