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Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast US imposes fresh sanctions against Iranian drone production IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects Voting for General Elections 2024 commences tomorrow Global warming up to 3 degrees to cost 10% of global GDP: Study Nexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of Agency GST implications for Corporate Debtor under IBC I-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HC Brazil’s proposal to tax super-rich globally finds many takers in G20 Group I-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITAT CPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence Minister I-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITAT Biden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliers I-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITAT US Poll: Biden trumps Trump in money race by USD 75 mn I-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITAT Netanyahu says Israel to decide how and when to respond to Iran’s aggression I-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITAT Google slays costs by laying off staffers & shifting roles outside US I-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITAT Heavy downpours drown Dubai; Airport issues travel advisory Cus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HC HM pledges to make India completely Maoist-free GST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HC Microsoft to inject USD 1.5 bn in AI Group G42 of UAE GST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HC Canadian budget proposes more taxes on higher income groups & tax credits for EVs World leaders appeal for quick ratification of UN Ocean Treaty


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New Delhi, September 12, 2017 ST - From Master Supply Agreement, it is plain that recipient of service is Verizon US - service is an export and not amenable to tax: HC

New Delhi, September 12, 2017 I-T - Expenses incurred on Director's relocation to a foreign destination and on his annual holiday with family are business expenses and not perquisite: ITAT

Mumbai, September 12, 2017 I-T - Cancellation of hedging contracts by trader to mitigate forex loss, will not result in Speculation, but Business loss: ITAT

New Delhi, September 12, 2017 ST - As per agreement, price was cum tax - Since no service tax is payable, therefore, question of recovery does not arise -unjust enrichment inapplicable: CESTAT

New Delhi, September 12, 2017 CX - 'Unit' and 'factory' cannot be accorded same meaning for purpose of Notification No. 50/03-CE: CESTAT

New Delhi, September 11, 2017 I-T - Sec 11 benefits not to be denied merely because assessee has both religious-cum-charitable objectives for society at large and not for a particular community: HC

New Delhi, September 11, 2017 I-T - When ITO, Investigation, is not authorised u/s 131(1A), reports issued by him on basis of Tax Evasion Petitions of previous years, cannot form reasons for reopening: Delhi HC

New Delhi, September 11, 2017 Setback for IRS officer; HC rules no financial support merely because his foreign education leave was sanctioned and he meets eligibility criteria

New Delhi, September 11, 2017 ST - Appellant getting eminent speakers for their annual summit through agency abroad - foreign agents are event managers - ST payable under reverse charge: CESTAT

New Delhi, September 11, 2017 Cus�Notfn. 158/95-Cus - Nowhere it is mentioned that appellant is required to seek extension of time within six months from date of re-importation: CESTAT

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April 18, 2024 | New Delhi

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast

April 18, 2024 | New Delhi

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

April 18, 2024

INTL - Expenses incurred by a non-resident individual towards obtaining Special Power of Attorney & anciliary expenses, for purpose of transferring property located in India, are covered u/s 48(i) & allowable: ITAT

April 18, 2024

TP - If assessee has suo-moto offered guarantee commission and no inherent risk arises to financial services utilized by AE from assessee, then no further guarantee adjustment is required: ITAT

April 18, 2024

Trade Marks Act - Issue of grant of registration can be remitted back to Examiner as trade mark could not be rejected and is required to be advertised : HC

April 18, 2024

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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