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Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast US imposes fresh sanctions against Iranian drone production IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects Voting for General Elections 2024 commences tomorrow Global warming up to 3 degrees to cost 10% of global GDP: Study Nexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of Agency GST implications for Corporate Debtor under IBC I-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HC Brazil’s proposal to tax super-rich globally finds many takers in G20 Group I-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITAT CPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence Minister I-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITAT Biden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliers I-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITAT US Poll: Biden trumps Trump in money race by USD 75 mn I-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITAT Netanyahu says Israel to decide how and when to respond to Iran’s aggression I-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITAT Google slays costs by laying off staffers & shifting roles outside US I-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITAT Heavy downpours drown Dubai; Airport issues travel advisory Cus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HC HM pledges to make India completely Maoist-free GST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HC Microsoft to inject USD 1.5 bn in AI Group G42 of UAE GST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HC Canadian budget proposes more taxes on higher income groups & tax credits for EVs World leaders appeal for quick ratification of UN Ocean Treaty


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Ahmedabad, April 04, 2014 Service Tax - No legal bar to utilization of Cenvat credit for purpose of payment of service tax on GTA services: CESTAT LB

Mumbai, April 04, 2014 Once the amended rules have come into force, they have to be given full effect and, therefore, for period from 1.4.2003, new rate of interest shall apply and not rate of interest which was prevalent when amount of duty was due - Otherwise, entire rule becomes infructuous/otiose: CESTAT

Ernakulam, April 04, 2014 Income tax - Whether, after 18 years of the Search conducted, documents obtained under RTI Act can be relied upon for establishing that no notice u/s 143(2) was issued - YES: HC

New Delhi, April 04, 2014 Cus - Questions which were agitated were duly considered by the CESTAT - What the appellant/assessee is urging this Court to do is convert itself into a third court of appellate review - Appeal dismissed: HC

Mumbai, April 04, 2014 ST - In absence of any documentary evidence, there cannot be any presumption in favour of appellant � Order of adjudicating authority is impeccable � appeal dismissed: CESTAT

New Delhi, April 03, 2014 I-T - Whether when assessee had related party deals & also failed to furnish bifurcated expenses incurred on SEZ and non-SEZ projects, resorting to Special Audit cannot be faulted with in such a case - YES: Delhi HC

Chandigarh, April 03, 2014 CX - S 35E - Appeal filed before CESTAT based on Review order passed by Committee of CCs delayed by 63 days - CESTAT has CoD power - Revenue appeal allowed and matter remanded to Tribunal to decide afresh regarding sufficiency of reasons for CoD: HC

New Delhi, April 03, 2014 Creative proposition by Revenue is ill-conceived and does not commend acceptance - where a limitation period is stipulated in terms of 'month', it connotes 30 days and not calendar month - Cost imposed: CESTAT

Mumbai, April 02, 2014 ST - Collection of Passenger Service Fees from passengers on behalf of AAI - 'collection charges' received by Jet Airways from AAI is chargeable to Service tax under category of BAS: CESTAT

Mumbai, April 02, 2014 CENVAT - Recovery agents discharging Service Tax on �seizing� charges under BAS is an Input service for a Banking & Financial Service provider prior to 01.04.2011: 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.

April 18, 2024 | New Delhi

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast

April 18, 2024 | New Delhi

IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects

April 18, 2024 | New Delhi

Voting for General Elections 2024 commences tomorrow

April 17, 2024 | New Delhi

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April 16, 2024

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April 09, 2024

Hearings in CESTAT after commencement of CIRP by NCLT

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April 2024 Edition

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

April 18, 2024

INTL - Expenses incurred by a non-resident individual towards obtaining Special Power of Attorney & anciliary expenses, for purpose of transferring property located in India, are covered u/s 48(i) & allowable: ITAT

April 18, 2024

TP - If assessee has suo-moto offered guarantee commission and no inherent risk arises to financial services utilized by AE from assessee, then no further guarantee adjustment is required: ITAT

April 18, 2024

Trade Marks Act - Issue of grant of registration can be remitted back to Examiner as trade mark could not be rejected and is required to be advertised : HC

April 18, 2024

SARFAESI Act - If any borrower is aggrieved by action of private bank/ARC, then borrower has to avail remedy under SARFAESI Act and no writ petition can lie or is maintainable : HC

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