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News Update

The 'Trumped' Global International Tax (See TII Edit)Election Commission raps Kejriwal on Yamuna poisoned water row Microsoft hosts DeepSeek on its cloud server American Airlines flight bangs into US Army Black Hawk copter; goes down in Potomac River near Reagan Airport 'Food' for GST Council to restore ITC!Rajasthan HC orders website launch for registration of live-in couples Employee Liability Under GST Govt okays Rs 3000 Cr aid for disaster mitigation projects in States I-T- Extension of Time for Filing Compliance Documents Allowed Under Section 119(2)(b): HC Scientists use stem cell to muscle weak hearts I-T- Discretionary Power of Income Tax Authorities to Condone Delay in Filing Returns : HC Judicial inquiry ordered in stampede at Maha Kumbh I-T- As is trite law, deduction u/s 80P(2)(d) for interest income earned from fixed deposits with a cooperative bank is allowed: HC Powell holds on interest rate; Trump lashes out I-T - Fiction created by Sec 11 of Acquisition Act, does not imply that canara bank would also become company for purpose of Companies Act for which Clause (b) of Sec 115JB(2) is applicable: ITAT Israeli firm finds sensitive data of DeepSeek inadvertently exposed to internet I-T- Delay in filing Form 10B does not bar a trust from claiming exemption u/s 11, as long as the trust's activities meet statutory requirements: ITAT Meta to pay Trump USD 25 mn for illegally suspending his account in 2021 I-T- Revisionary power need not be invoked where limitation period therefor has lapsed & where original order is neither erroneous nor prejudicial to revenue's interests: ITAT Sweden to send prisoners in foreign jails ST - Case warrants remand where assessee unable to furnish requisite documents during adjudication due to COVID pandemic & fire incident at assessee's office: CESTAT ‘Doomsday Clock’ inches closer to midnight - only 89 seconds away ST - Insurance service provided by DICGC is input service for banks; is permissible for banks to claim CENVAT credit on Service Tax paid for such service: CESTAT Govt announces timeline for compliance with amendments in labelling CX - Excise duty is levied on manufacture, not sale of goods; exemption under Notfn No. 67/95-CE is allowed as long as goods in question are used within the factory of manufacture: CESTAT CBIC destroys 10,413 kg seized narcotics and 94.62 lakh tablets CX - Extended limitation need not be invoked where issue involves interpretation of Service Tax Rules & where no evidence indicates suppression of facts or tax evasion & where tax is already paid under forward charge: CESTAT MNRE notifies revised Quality Control Order for Solar Photovoltaic Products CX - Substantive benefit of credit under Rule 3 of Cenvat Credit Rules cannot be denied solely based on procedural discrepancies in assessee's address: CESTAT ISRO's 100th Launch marks quantum leap in India's Space journey: MoS Cus - Failure to comply with labelling requirements under Legal Metrology Rules, 2011, constitutes contravention of Customs Act, 1962, rendering goods liable for confiscation u/s 111(d): CESTAT National Conference on Good Governance to commence today CX - Assessee not entitled to avail Cenvat credit of Service Tax paid on lease rental, O&M for windmills, where relevant agreements provide only for supply of electricity, not for leasing/maintaining windmills: CESTAT

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Building a Resilient Backbone: The Critical Role of Tech-Savvy Finance, Legal, Tax, and M&A Teams in Sustainable Growth

TIOL Tube

Former Prime Minister, Dr Manmohan Singh, delivering his Award Acceptance Speech after receiving TIOL Fiscal Heritage Award 2022 on Nov 8 at Taj Palace, New Delhi

January 30, 2025 | New Delhi

Govt announces timeline for compliance with amendments in labelling

January 30, 2025 | New Delhi

CBIC destroys 10,413 kg seized narcotics and 94.62 lakh tablets

January 30, 2025 | New Delhi

MNRE notifies revised Quality Control Order for Solar Photovoltaic Products

January 30, 2025 | New Delhi

ISRO's 100th Launch marks quantum leap in India's Space journey: MoS

December 18, 2024

Multiple Adjournments of Appeals, After Issue of Final Order - Attempt to Restore Them

November 25, 2024

Import of Elisa Test Kits and Reagents with Benefit of Notification

VISION 360 - January 2025

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

January 2025 Edition

Technical Session I - Ease of Doing Business: GST on Digital Economy

January 30, 2025

TP - Rate at which electricity is sold on Indian Energy Exchange platform is not 'comparable' and shall not be considered to determine market value of power supplied by assessee to its industrial units: HC

January 30, 2025

TP - Non-operating incomes can't be treated as operating profit and prima facie, 'other income' should be removed from segmental profit while comparing margin of comparable: ITAT

January 30, 2025

A&C - Issue of validity of arbitration agreement more particularly in respect of having essential elements of arbitration agreement, can better be considered and decided on merits by arbitration tribunal: HC

January 30, 2025

A&C - Date of receipt of corrected award would be taken as disposal date u/s 34 of Arbitration Act, even when application u/s 33 has been filed: HC

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