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I-T- Denial of deduction u/s 80IC can create perception of genuine hardship, where claimant paid tax in excess of what was due; order denying deduction merits re-consideration: HC Israel launches missile attack on Iran EC holds Video-Conference with over 250 Observers of Phase 2 polls Germany disfavours Brazil’s proposal to tax super-rich I-T- If material found during search are not incriminating in nature AO can not made any addition u/s 153A in respect of unabated assessment: ITAT Govt appoints Dinesh Tripathi as New Navy Chief AFMS, IIT Kanpur to develop tech to address health problems of soldiers FBI sirens against Chinese hackers eyeing US infrastructure I-T - Interest earned on short term deposit out of borrowed funds during period prior to commencement of business, is totally foreign to business objects of assessee, and not eligible for set off: ITAT Kenya’s top military commanders perish in copter crash CBIC notifies Customs exchange rates w.e.f. April 19, 2024 Meta shares ‘Most Intelligent’ AI assistant built on Llama model ST - Service Tax paid in respect of export of services and cannot be subject to levy of Service Tax under Notfn 18/2009-ST, denial of exemption on procedural lapses cannot be sustained: CESTAT Dengue cases soaring in US - Close to ‘Emergency situation’: UN Agency Nexus between Election Manifesto and Budget 2024 in July!Half of China’s major cities sinking, reveals Study CX - The warranty service is eligible for credit though the same is provided after clearance of final products: CESTAT


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Mumbai, February 22, 2019 ST - No respite for State Bank of India - Penalty of Rs. 91 lakhs upheld: CESTAT

New Delhi, February 21, 2019 I-T - Definitions of 'Initial Assessment Year' used in Sections 80IB and 80IC are materially different and Assessee is entitled to deduction of 100% profits: SC Larger Bench

Mumbai, February 21, 2019 CX - Printed stationery supplied by Municipal Printing Press to MCGM offices is not marketable, therefore, not chargeable to duty: CESTAT

Mumbai, February 21, 2019 I-T - Second limb of Sec 2(22)(e) does not get attracted, if creditor company gives loan not directly to its shareholder but to any concern in which such shareholder has substantial interest: HC

Allahabad, February 20, 2019 VAT - Material event for levy of penalty is not failure to carry TDF, rather failure to prove that goods are for interState sale: HC LB

Allahabad, February 20, 2019 VAT - Railways are statutorily obliged to ensure timely TDS deduction; penalty reduced on account of bona fide reasons explaining delay: HC

Mumbai, February 20, 2019 CX - Once Tribunal found that condition of pre-deposit is not complied with, then, it was not open to it to adjudicate matter on merits: High Court

Allahabad, February 20, 2019 I-T - Mistake or non-application of mind at time of passing of original assessment order does not authorize Department to re-initiate proceedings of reassessment: HC

Mumbai, February 20, 2019 CX - Appeal was admitted on substantial questions of law - However, it is for Revenue to decide and withdraw appeals: High Court

Mumbai, February 19, 2019 I-T - Mesne profit fixed by Rent Control Tribunal in eviction proceedings cannot be treated as rent receivable in respect of premises protected by Rent Act: HC

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I-T- Onus of establishing receipt of services from Associated Enterprise has to be discharged on year to year basis by assessee company: ITAT

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DTAA - Payment received on account of subscription, professional and training services cannot be deemed to be Fees for Technical service and be taxed as Royalty, where no technical know-how is made available: ITAT

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SARFAESI Act - If any borrower is aggrieved by action of private bank/ARC, then borrower has to avail remedy under SARFAESI Act and no writ petition can lie or is maintainable : HC

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