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Israel-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITAT TRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum Leasing I-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITAT Technology Board okays funding of Dhruva Space's Solar Array Project I-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITAT Health Secy visits Bilthoven Biologicals, discusses production of Polio Vaccine I-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITAT Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide I-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITAT Delhi HC says conspiracy against PM is a crime against State I-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITAT Brazil makes new rules to streamline consumption taxes I-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITAT Biden signs rules mandating airlines to give automatic refunds for delayed or cancelled flights I-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITAT BYD trying to redefine luxury for new EV variants GST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HC Israel finally moving ahead with Rafah Operations GST - Registration cancelled retrospectively on ground that physical verification revealed that the firm was non-existent - Petitioner had informed that they shifted business and had sought cancellation of registration - Order cancelling registration modified: HC Norway oil major boss says Europeans are not hard-working as compared to Americans GST - Since registration was cancelled, petitioner could not access portal and view the SCNs and file replies - Order set aside and matter remitted: HC Jio turns world’s top telco in terms of data traffic GST - Reply filed is a detailed one and if the proper officer was of the view that the same was unsatisfactory, he should have specifically sought further details - Matter is remitted: HC Gadkari faints during campaign; Heat takes toll on his health GST - SCN does not put petitioner to notice that the registration is liable to be cancelled retrospectively - Order set aside and registration restored: HC SC asks EC to submit more info on reliability of EVMs GST - Non-application of mind - Proper officer has merely observed that the reply filed is unclear and unsatisfactory and, therefore, the demand is confirmed - Matter remitted for re-adjudication: HC Italy imposes USD 10 mn fine on Amazon for unfair business practices Commercial Tax - Judgment of High Court is in jeopardy once appeal is entertained by Supreme Court - Appeals shall remain pending before the Appellate Board, Bench at Indore, till the issue is decided by Apex Court: HC US warns Pak of punitive sanctions against trade deal with Iran ST - As the job-work undertaken by appellant amounts to manufacture, service tax cannot be levied on them under both Heads 'Business Auxiliary Service' and 'Business Support Service': CESTAT Right to Sleep - A Legal lullaby CX - Existence of corroborative evidence is essential in order to establish clandestine removal of goods and same cannot be merely based on assumptions and presumptions: CESTAT


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Kolkata, August 30, 2013 CENVAT � Rule 6(3)(ii) - Discharging 10% of price of exempted goods due to non-availability of data at beginning of FY would not disentitle manufacturer from exercising option later during same FY - Stay granted: CESTAT

New Delhi, August 29, 2013 CX - Modvat - Deemed Credit - Assessee not responsible if supplier had not paid correct duty; Assessee not expected to verify with Department whether supplier had paid duty: SC

New Delhi, August 29, 2013 I-T - Whether when Revenue had issued notice for reassessment on ground that Sec 10B deduction had resulted in underassessment of income, and deduction on account of deferred revenue expenditure was inadmissible, it amounted to tangible material which had live link to validate formation of opinion - NO: Delhi HC

New Delhi, August 29, 2013 Service Tax - Franchisee Service - CESTAT upholds demand against Delhi Public School Society under normal period of limitation

Paris, August 28, 2013 MAA in Tax Matters to curb tax evasion: China, last Member of G20, signs OECD framework

New Delhi, August 28, 2013 Sliding Rupee - Possibility of Currency Swap - Task Force set up to work out mechanism

Allahabad, August 27, 2013 I-T - Whether penalty u/s 272B is to be imposed on deductor even if fault of non-furnishing of PAN details lies with deductees - NO: Allahabad HC

Mumbai, August 27, 2013 Service Tax is leviable on rendering of services - therefore, it is rate prevalent on date of rendering of service, which is relevant for levy of Service Tax - appeal allowed: CESTAT

New Delhi, August 27, 2013 CX - Appellant procuring various items of Ch. 85 for setting up paint shop in factory - Revenue alleging that upon fabrication what comes into existence being fixed to earth is not excisable and hence these items are not CENVATABLE - Order set aside: CESTAT

New Delhi, August 26, 2013 I-T - Whether when assessee is sanctioned a grant by Govt for operational purposes for a period of five years, entire sum is to be treated as receipt in same year - NO: Delhi HC

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

April 24, 2024

TP - Arm's length computation of corporate guarantees issued by assessee in favour of its AEs abroad taken at 1% which has been approved for earlier A.Ys, cannot be disturbed in absence of contrary: ITAT

April 24, 2024

I-T- DTAA does not get triggered at all when a domestic company pays DDT u/s 115-O of the Act : ITAT

April 25, 2024

IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC

April 25, 2024

SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC

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