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SARFAESI Act - Award of interest on auction money at rate applicable to fixed deposits is not a correct view and rate of interest deserves to be enhanced: SC (See 'TIOLCorplaws')ST - Chit Funds - Tax was not paid under mistake of law but upon demand by tax authorities - Refund not having been filed within time was rightly rejected: HC GST - Without considering the reply on merits, proper officer, without applying his mind has held that the reply is filed is unsatisfactory and, therefore, he is left with no alternative but to create demand - Order set aside and matter remitted: HC GST - Cancellation of registration retrospectively - Show Cause Notice and the impugned order are bereft of any details, accordingly the same cannot be sustained: HC GST - Registration could not have been cancelled retrospectively for the period for which returns were filed and taxpayer was compliant: HC GST - Notfn 11/2017-CTR amended by 03/2022-CTR - Work contracts executed before 18 July 2022 - Petitioners should file refund claims before respondent authorities agitating their grievance and the same be examined and orders passed within four months: HC Italy imposes USD 10 mn fine on Amazon for unfair business practices GST - Entire tax liability has been realised by appropriating the amount from the petitioner's bank account, therefore, Revenue interest stands fully secured - Since tax proposal was confirmed without participation of petitioner, order set aside and matter remanded: HC Caste Census is my mission, says Rahul 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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Mumbai, January 27, 2017 CX - Once consequential relief is ordered, lower authorities are deprived of power to reject, otherwise appellate hierarchy will serve no purpose: CESTAT

New Delhi, January 27, 2017 DBK - Respondents acted upon prejudice and preconceived notion that ladies sandals cannot be without back strap - commercial parlance test would predominate: High Court

Allahabad, January 27, 2017 CX - Cenvat Credit taken on plastic pouches for packing chewing tobacco sought to be denied on ground that SC banned usage of same - Question of recovery u/R.14 of CCRs does not arise as credit was validly taken: CESTAT

Ahmedabad, January 27, 2017 I-T - Whether additions can be made on account of investment merely on basis of statement of original owners, in absence of evidences to show transfer of sale consideration - NO: HC

Mumbai, January 27, 2017 ST - No such reference in Explanation 'ec' to s.11B that same applies only when refund is in dispute - judgment can be in relation to any precursor of refund - Revenue appeal dismissed: CESTAT

Mumbai, January 26, 2017 Sachin Tendulkar wins capital gains case; ITAT rules merely because he availed services of Portfolio Manager, gains from share transactions do not become business income

Ahmedabad, January 25, 2017 CX - Tribunals are respected for matters which they adjudicate & not matters which they dispose of - disposal of appeals in cavalier fashion would only give rise to more litigation: HC

Mumbai, January 25, 2017 Cus - Failure to ascertain credentials of exporter and failure to notice forged nature of documents do not evidence culpability in abetment of smuggling of red sanders: CESTAT

New Delhi, January 25, 2017 CX - Manufacture - Activities of filling gases from tanker to cylinder & mixing more than one gases in specified proportion - do not amount to manufacture: SC

New Delhi, January 25, 2017 Cus - Respondent was exonerated not in departmental inquiry but in adjudication proceedings for levying penalty, by CESTAT - no infirmity in order of ACMM dropping criminal prosecution: HC

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

April 24, 2024

TP - Arm's length computation of corporate guarantees issued by assessee in favour of its AEs abroad taken at 1% which has been approved for earlier A.Ys, cannot be disturbed in absence of contrary: ITAT

April 24, 2024

I-T- DTAA does not get triggered at all when a domestic company pays DDT u/s 115-O of the Act : ITAT

April 24, 2024

PMLA - Considering money trail and involvement of applicant in crime he is not entitled for anticipatory bail : HC

April 24, 2024

Competition Act - Informant has neither referred to any particular agreement nor provided any document which suggest existence of anti-competitive agreement : CCI

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