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Safari Retreats Judgement of Supreme Court: A Pyrrhic Victory India’s RuPay card launched in Maldives I-T- When the assessee has own funds and surplus is more than investments, then, the presumption is that own funds are used: ITAT US Court orders Google to welcome rival App stores I-T- Penalty under Section 271(1)(c) is invalid where notice issued u/s 274 fails to specify the exact limb of penalty imposed: ITAT US to sell lightweight torpedoes worth USD 175 mn to India I-T- CIT(A) empowered to consider additional evidence not furnished during assessment proceedings or which CIT(A) opines is necessary to admit for adjudicating matter; AO must necessarily have opportunity to examine such evidence: ITAT Lawyers, wife not to have access to Imran Khan over security concerns I-T- Re-assessment proceedings are rightly quashed where found to be based on change of opinion : ITAT Hurricane Milton turns into Category 5 storm CX - Spirits are denatured to be rendered unfit for human consumption - commodity tax in Constitutional scheme excludes Union's jurisdiction on spirits for human consumption - Excise tax applies to all spirits not intended for human consumption: CESTAT UK sets up Regulatory Innovation Office to spur growth CX - Molasses used captively for manufacturing Undenatured ethyl alcohol, are exempt from tax - tax demand raised thereon is not sustainable: CESTAT Mexican mayor killed days after assuming office Cus - Unless it is established that royalty is paid as a condition of sale, it cannot be included in assesable value: CESTAT

MESSAGE BOARD

Stayed Tax - Collected by Consent (of the victim) - Deplored - ITAT

Purchase of laptops

Ref: TIOL-DDT 2473 dated 12.11.2014. Considering the total number of 14 advocates and professionals, the number of laptops allotted to each person comes to around 89! What happened to desktops earlier purchased by the renowned Advocate for his office? If the documents and vouchers were eaten by termites, whether the laptops have also been eaten by termites? No, because those 1250 laptops were not kept in the office of the Chartered Accountant. Is he having a legal consultancy firm or shop for sale and repair of laptops?
++Shashwat Jain

shashwat jain 12/11/2014

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TIOL Tube

Shri Shailendra Kumar, Trustee, TIOL Trust, giving welcome speech at TIOL Fiscal Awards 2024.

October 07, 2024 | New Delhi

CBDT invites inputs for comprehensive review of Income-tax Act

October 07, 2024 | New Delhi

India-UAE BIT comes into effect

October 07, 2024 | Mumbai

SAI to develop National Centre of Sports Excellence in Mumbai

October 07, 2024 | New Delhi

Rs 1,000 cr earmarked for Venture Fund to Space StartUps, says Minister

October 07, 2024

Undervaluation of Imported Aluminium Scrap (Part 3 of series)

September 09, 2024

Undervaluation of Imported Aluminium Scrap

VISION 360 - September 2024

VISION 360 -
'A Treasury of Key Tax &
Regulatory Developments!'

September 2024 Edition

Ms. Kavita Reddy reading the acceptance speech on behalf of Dr. Y. V. Reddy former Governor of RBI, at TOL Fiscal Awards 2024 after being conferred TOL Kautilya Global Award 2024 by Deputy Chairman of Rajya Sabha, Shri Harivansh Narayan Singh.

October 08, 2024

TP - Additions on account of Advertising, Marketing & Promotional expenses are unwarranted where no evidence exists to suggest arrangement between Indian assessee & its AE abroad: ITAT

October 08, 2024

TP - There is no thumb rule of applicability of LIBOR plus basis points, considering that it depends upon various factors: ITAT

October 08, 2024

IBC - Disciplinary committee can be comprised and equated with one whole time member: HC

October 08, 2024

IBC - Failure to include specific agenda of withdrawal of Corporate Insolvency Resolution Process in Committee of Creditors meetings attracts penalization u/s 208 of Code: IBBI

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