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World Energy Congress 2024: IREDA CMD highlights need for Innovative Financing Solutions Voter turnout surpasses 50% by 4 PM in Phase 2 polls ST - Amendment made to FA, 1994 on 14.05.2015 making service tax applicable retrospectively on chit-fund business is only prospective - Refund payable of tax paid between 01.07.2012 to 13.05.2015: HC XI tells Blinken - China, US ought to be partners, not rivals ST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HC CX - Issue involved is valuation of goods u/r 10A of CE Valuation Rules, 2000 - Appeal lies before Supreme Court: HC Cus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HC Cus - Penalty that could be imposed for smuggling 3.2 kg of gold was Rs.88.40 lakhs, being the value of gold, but what is imposed is Rs.10 lakhs - Penalty not at all disproportionate: HC Cus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HC Cus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HC I-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HC China asks Blinken to select between cooperation or confrontation I-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITAT Honda to set up USD 11 bn EV plant in Canada Imran Khan banned from flaying State Institutions I-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITAT Pro-Palestine demonstration spreads across US universities; 100 arrested I-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITAT NATO asks China to stop backing Russia if keen to forge close ties with West NY top court quashes conviction of Harvey Weinstein in rape case


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New Delhi, March 12, 2019 I-T - High court order untenable as it fails to examine Chapter XV of I-T Act to dismiss dissolved company petition: SC

Mumbai, March 12, 2019 I-T - Once entire excess sum paid to Director by resolution, stands returned to Company by pro-tanto reduced remuneration in subsequent years, no disallowance is warranted for infringing Companies Act: ITAT

Mumbai, March 12, 2019 CX -S 4A - In absence of machinery provisions, invoice price, even though not found to be affixed on product would have to be accepted as RSP: CESTAT

New Delhi, March 11, 2019 I-T - Sec 80IA benefits are available to even franchisees of basic telephone service providers although it may only be erecting EPABX System: ITAT Special Bench

Mumbai, March 11, 2019 I-T - When assessee has filed revised computation of income immediately upon noticing defect in return and before detection by AO, then his act is not contumacious, warranting any penalty: ITAT

Mumbai, March 11, 2019 ST - Once duty is admitted, interest cannot be detached from duty liability: CESTAT

New Delhi, March 09, 2019 I-T - PSF is paid to AAI by passengers and not Airlines - NO TDS obligation arises for Airlines: ITAT

Ahmedabad, March 09, 2019 I-T - Registration of vehicle in name of company is not sine qua non to claim depreciation on such assets: ITAT

Bangalore, March 08, 2019 I-T - Reduction of sales figure in sales ledger by following AS-9 accounting standard is unlawful when an entry in ledger is made according to mercantile system of accounting: ITAT

Mumbai, March 08, 2019 ST - Not considering written submissions filed by Revenue while passing final order is an error apparent on record: CESTAT

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April 2024 Edition

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

April 26, 2024

I-T - Assessee cannot be prevented from claiming that receipts from sale of software were wrongly offered as royalty, merely because such income was wrongly offered in ROI and which was not revised: ITAT

April 26, 2024

I-T- Proceedings commenced subsequent to exercise of revisionary power u/s 263, are unsustainable, where the revisionary order itself came to be quashed: ITAT

April 26, 2024

PMLA -Bail application can be dismissed as petitioner failed to satisfy conditions for grant of bail : HC

April 26, 2024

Trade Mark Act - Marks are visually phonetically and deceptively similar to Plaintiffs' trademarks : HC

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