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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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New Delhi, February 26, 2019 I-T - Imposition of conditional pre-deposit is not necessitated in every case seeking stay of demand: HC

Mumbai, February 26, 2019 CX - Valuation - Even if buyer company is an inter-connected undertaking, it cannot be treated as a 'related person': CESTAT

Pune, February 25, 2019 I-T - Cash received as gift cannot be treated as such if donee fails to explain reason for piece-meal deposit of cash amount purportedly received in lump-sum: ITAT

Gauhati, February 25, 2019 I-T - Once assessment order passed by ITO merges with Appellate order of CIT(A), it cannot be corrected in revision proceeding u/s 263: HC

Mumbai, February 25, 2019 I-T - Assessee cannot resurrect before Tribunal any claim which was revoked before CIT(A) & without pointing out any error which led to withdrawal of such claim: HC

Mumbai, February 25, 2019 ST - Premium paid on deposit insurance to DICGC is not an Input service: CESTAT

Mumbai, February 25, 2019 I-T - Taxes offered by assessee at erroneous rate, if promptly revised without any opposition on being noticed, shows bona fide and hence attracts no penalty: HC

Ahmedabad, February 23, 2019 Cus - 'Pre-import condition' inserted by Notf. 79/2017-Cus renders Advance Authorisation scheme nugatory, hence is ultra vires : High Court

Ahmedabad, February 22, 2019 I-T - SETCOM cannot pass order based on auxiliary submissions of CIT to bolster incomplete report challenging validity of assessee's application for settlement: HC

Hyderabad, February 22, 2019 I-T - If AO's order is based on wrong application of Accounting Standard to financial statements of assessee, it is a fit case for invocation of powers u/s 263: ITAT

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