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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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Mumbai, February 19, 2014 ST - Merely because adjudicating authority has given elaborate finding, it does not mean that appellate authority need not discuss matter and give finding - lower appellate authority has not applied his mind at all - matter remanded: CESTAT

Ahmedabad, February 19, 2014 Inter-unit transfer of goods manufactured by a 100% EOU 'No requirement to pay SAD though no sales tax is paid' Tribunal sets aside demand

Ahmedabad, February 18, 2014 Income tax - Whether additions are warranted when there is substantial increase in consumption of electricity but without corresponding increase in production and also no mention of work-in-progress in books - YES: HC

New Delhi, February 18, 2014 Appeal against Anti-dumping Notification No 33/2008 Cus dated 11.3.2008 fails – Tribunal finds no flaw in Notification and the proceedings

Chennai, February 18, 2014 Toys or Games? Not fun to decide - Classification of Chip N Dale, Duck Tale Disney, Fox and Geese and Rally manufactured by Funskool - Matter referred to Third Member

Mumbai, February 17, 2014 ST - Ajay Devgn aka Bajirao Singham not entitled to take CENVAT credit on Club service as same relates to personal activity & has no nexus with business: CESTAT

Chennai, February 17, 2014 CENVAT - Credit taken not utilized & reversed - Penalty not imposable, but interest exists in view of SC decision in Ind-Swift - question of size of demand not relevant when major question of law is involved: HC

Hyderabad, February 17, 2014 I-T - Whether when assessee has earned capital gains on transfer of land to developer, not filing Return because papers were missing, warrant penalty - YES: ITAT

Mumbai, February 17, 2014 ST - listing fee charged towards banner advertising - SCN alleges activity would be exigible to tax under online data access - demand dropped - in appeal memo, Revenue seeks classification under BAS but has no merits: CESTAT

Mumbai, February 16, 2014 CX - appellant paid ST for Works Contract - since Composition Scheme was availed in respect of ST on condition that CENVAT is not availed on inputs, permitting appellant to take CENVAT against CX duty would mean they are disentitled to benefit of ST: HC

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