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Germany disfavours Brazil’s proposal to tax super-rich Govt appoints Dinesh Tripathi as New Navy Chief FBI sirens against Chinese hackers eyeing US infrastructure Kenya’s top military commanders perish in copter crash Meta shares ‘Most Intelligent’ AI assistant built on Llama model Dengue cases soaring in US - Close to ‘Emergency situation’: UN Agency Half of China’s major cities sinking, reveals Study Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast Nexus between Election Manifesto and Budget 2024 in July!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 Clearing the Air: Airtel's SC Decision provides clarity on test of Agency GST implications for Corporate Debtor under IBC 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 Biden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliers Canadian budget proposes more taxes on higher income groups & tax credits for EVs


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Mumbai, December 01, 2013 Penalty - Customs official in his statement admitting that he had accepted gratification and granted LET order in respect of consignments which were overvalued to claim undue DEPB benefits - Pre-deposit ordered: CESTAT

New Delhi, November 30, 2013 I-T - Whether when Indian subsidiary enters into agreement with parent for right to duplication and imports of master copy, expenditure incurred on import of new versions of master copy having short shelf-life is to be construed as revenue in nature - YES: Delhi HC

Mumbai, November 30, 2013 CX - Notfn. 19/2004-CE(NT) granting rebate of duty specifically excludes goods which have been cleared by availing exemption notifications 56 & 57 of 2002 - in order to overcome this condition, appellant appears to have resorted to ‘deception' -Pre-deposit ordered in cash of Rs.13.22 Crores.: CESTAT By Majority

Chennai, November 29, 2013 CX - Manufacture - cutting of carpet rolls into smaller sizes and subjecting such cut sizes to process of stitching linings at edges would not amount to manufacture: CESTAT LB

New Delhi, November 29, 2013 I-T - Whether doctrine of 'source of source' and 'origin of origin' can be applied universally - NO, not without reference to factual matrix: Delhi HC

Bangalore, November 29, 2013 Service Tax - Stay and Waiver of pre-deposit: EPC need not be whole project, it can also be a part - Person includes Government - Pre-deposit ordered: CESTAT

Chennai, November 28, 2013 CX - CENVAT Credit - Capital Goods cleared as such - assessee would be entitled to reverse whatever Cenvat credit availed on value to be assessed on date of such subsequent sale as capital goods: CESTAT LB

Bangalore, November 28, 2013 I-T - Whether when Indian subsidiary turns its business losses into profit with financial aid coming from parent, such payment is to be treated as capital subsidy - YES: High Court

Mumbai, November 28, 2013 ST - Appellant MSRTC providing buses for excursions, site seeing, marriages, election duty etc - Appellant merely renting their vehicles - appellant cannot be termed as Tour Operators – as demand not sustainable penalties also do not survive – MSRTC appeal allowed and Revenue appeal dismissed: CESTAT

Chennai, November 27, 2013 ST - Whether cost of 'deemed sale' goods to be excluded from value for computing Tax - Larger Bench declines to answer reference in view of HC order - Matter remanded to Division Bench

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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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