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DRI nabs 4 pax; seizes gold worth Rs 6 Cr at Mumbai Airport China’s Defence Minister says war with US would be mega disaster OPEC+ not on same page; Saudi to pare back oil production Change in electronic interlocking system triggered train wreck; People identified for action: Rail Minister 14 killed & 5 missing after hill-slide in China 4000 workers lost job because of AI in May month: Report MCA substitutes Form No 3 by amending LLP Partnership Rules New EVs with ultralong-range battery back-up to hit market soon Sunak may set up Global AI Watchdog to assess threats CBDT issues AGT order of 258 CITs with Addl charge Industry offers to further reduce the MRP of edible oils MeitY transfers Li-ion battery recycling technology to 9 recycling industries and start-ups Cus - Hublot Big Bang & Bvlgari Serpenti - No provision available in Customs Act to retain the goods after the concerned party has paid redemption fine as well as penalty: HC 19 CBIC officers promoted as Pr Commissioner CBDT fixes 21 days time limit for taxpayers to respond to intimation u/s 245(1)

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TODAY'S CASE (DIRECT TAX)

++ I-T- AO erred in making the addition when the alleged sum was used by the assessee for its objects : ITAT

++ I-T- Grants constitute the income of the assessee when the assessee was not authorised to use the said grants for any purpose : ITAT

++ I-T- Late fee can not be levied u/s 234E of the Act for late filling of TDS Return which pertains to the period prior to 01-06-2015 : ITAT

++ I-T- When there are two reasonable interpretations of a taxing provision, then that interpretation favoring the assessee must be adopted : ITAT

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May 2023 Edition

June 03, 2023 | New Delhi

Industry offers to further reduce the MRP of edible oils

June 03, 2023 | New Delhi

MeitY transfers Li-ion battery recycling technology to 9 recycling industries and start-ups

June 03, 2023 | New Delhi

G20 Employment Working Group Meeting concludes successfully in Geneva

June 03, 2023 | New Delhi

Gadkari inaugurates two NH projects in Vadodara worth Rs 48 crore

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Mr. Nikhil Gupta, Global Indirect Tax Lead, Wipro Enterprises Pvt Ltd sharing his thoughts at the TIOL Awards 2022 event.

June 02 2023

TP - If there is agreement for services and certain services out of bundle of services are undisputedly rendered, then entire agreement has to be viewed as whole: ITAT

June 01, 2023

TP - If assessee is not aggrieved by order passed by CIT(A) with respect to inclusion of certain companies, then assessee has no right to challenge order of CIT(A) for exclusion of these companies: ITAT

June 02, 2023

IBC - Registration of Mr. Ramasamy Shanmuggam can be suspended for 2 years as liquidator has failed to perform duty of conducting liquidation for beneficial liquidation of CD : IBBI

June 02, 2023

Trade Marks Act - Defendant can not continue to use mark 5ADDA PIND as '5' used in '5ADDA PIND' is deceptively similar to registered mark of plaintiff 'SADDA PIND' : HC

Mr. Vishweshwar Mudigonda, Partner, Deloitte Touche Tohmatsu India LLP sharing his thoughts at the TIOL Awards 2022 event.

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