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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, July 20, 2013 CX - 825 days delay in filing appeal by Revenue - explanation is not at all satisfactory and thoroughly vague - delay not condoned: High Court

New Delhi, July 20, 2013 Minister gives away Award of Certificate of Excellence to employees of DoP&T

Chennai, July 19, 2013 Central Excise - Appeal - Waiver of pre-deposit - When Stay granted by High Court is vacated, Tribunal's order comes back to life - assessee directed to make pre-deposit: High Court

Ahmedabad, July 19, 2013 I-T - Whether development of Geographical Information software based on raw customer inputs and fact that it is not mere compilation of map simplicitor, satisfies test of manufacture as per Sec 80IB - YES: ITAT

Mumbai, July 19, 2013 ST - Appellant getting secret from an ex-employee of competitor - suit filed - appellant reaches out of court settlement & becomes co-owner of IP - since transfer is permanent transaction it does not come under purview of Sec 65 (55b) so as to be taxed under head of IP: CESTAT

Bangalore, July 18, 2013 I-T - Whether when assessee issues shares to employees without the premium price under ESOP, the same is to be construed as short capital receipt - NO: ITAT Special Bench

Chennai, July 18, 2013 CX - Goods supplied under Notifi No 108/95 - Benefit of exemption is admissible to goods cleared to contractors executing projects financed by UN or international organizations: Madras HC

Chennai, July 18, 2013 I-T- Whether once Commissioner while excersing his revisional powers has stated that non-initiation of penalty proceedings by AO does not warrant any interference, hands of AO are tied on invoking penalty on remand - NO:HC

Mumbai, July 18, 2013 ST - Nobody can provide service to himself - buffer stock subsidy is not for services rendered to GOI - Just because storage of free sale sugar had to be extended at behest of GOI, neither sugar mill becomes 'storage and warehouse keeper' nor GOI becomes client: CESTAT

Allahabad, July 17, 2013 CX - Board Circular dated 28.10.2009 on Bagasse is all GAS - Allahabad High Court quashes Circular

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TP- AO does not have the jurisdiction to propose any transfer pricing adjustment in case where he has not made any reference to the TPO: ITAT

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SARFAESI Act - Petition has been filed to overreach recovery proceedings, wherein Petitioners have been found to be liable to pay certain amount so as to circumvent provisions of statutory appeal : HC

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