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Israel-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITAT TRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum Leasing I-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITAT Technology Board okays funding of Dhruva Space's Solar Array Project I-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITAT Health Secy visits Bilthoven Biologicals, discusses production of Polio Vaccine I-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITAT Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide I-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITAT Delhi HC says conspiracy against PM is a crime against State I-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITAT Brazil makes new rules to streamline consumption taxes I-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITAT Biden signs rules mandating airlines to give automatic refunds for delayed or cancelled flights I-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITAT BYD trying to redefine luxury for new EV variants GST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HC Israel finally moving ahead with Rafah Operations GST - Registration cancelled retrospectively on ground that physical verification revealed that the firm was non-existent - Petitioner had informed that they shifted business and had sought cancellation of registration - Order cancelling registration modified: HC Norway oil major boss says Europeans are not hard-working as compared to Americans GST - Since registration was cancelled, petitioner could not access portal and view the SCNs and file replies - Order set aside and matter remitted: HC Jio turns world’s top telco in terms of data traffic GST - Reply filed is a detailed one and if the proper officer was of the view that the same was unsatisfactory, he should have specifically sought further details - Matter is remitted: HC Gadkari faints during campaign; Heat takes toll on his health GST - SCN does not put petitioner to notice that the registration is liable to be cancelled retrospectively - Order set aside and registration restored: HC SC asks EC to submit more info on reliability of EVMs GST - Non-application of mind - Proper officer has merely observed that the reply filed is unclear and unsatisfactory and, therefore, the demand is confirmed - Matter remitted for re-adjudication: HC Italy imposes USD 10 mn fine on Amazon for unfair business practices Commercial Tax - Judgment of High Court is in jeopardy once appeal is entertained by Supreme Court - Appeals shall remain pending before the Appellate Board, Bench at Indore, till the issue is decided by Apex Court: HC US warns Pak of punitive sanctions against trade deal with Iran ST - As the job-work undertaken by appellant amounts to manufacture, service tax cannot be levied on them under both Heads 'Business Auxiliary Service' and 'Business Support Service': CESTAT Right to Sleep - A Legal lullaby CX - Existence of corroborative evidence is essential in order to establish clandestine removal of goods and same cannot be merely based on assumptions and presumptions: CESTAT


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Mumbai, November 16, 2016 Minor variations in stock due to human error with no evidence of short receipt or clandestine removal - credit admissible: CESTAT

New Delhi, November 15, 2016 PM reviews currency supply positions; takes several more steps, including collecting smaller notes from hundis of worship places

Hyderabad, November 15, 2016 Validity of Show Cause Notice cannot be challenged once it confirmed by Tribunal, High Court and SC - Petition dismissed: HC

Kolkata, November 15, 2016 I-T - Whether acceptance of accomodation entries as to immediate withdrawal of cash after the deposit, warrants application of peak credit theory for taxing undisclosed income of assesseee - YES: ITAT

Mumbai, November 15, 2016 CX - Since duty liability on goods exported was discharged and refund claim was filed beyond six months, provision of Sec 11B gets attracted: CESTAT

Mumbai, November 15, 2016 Cus - It is undisputed that documents on basis of which benefit has been claimed existed prior to assessment - In these circumstances S.149 of CA is clearly applicable: CESTAT

New Delhi, November 14, 2016 Demonetisation - Cash crunch - PM reviews supply of currency - takes host of measures to ease hardships �

Kolkata, November 14, 2016 I-T - Whether assessee in receipt of a certificate u/s 197(1) of I-T Act, can be burdened with TDS obligation - NO: ITAT

Allahabad, November 14, 2016 U.P VAT Act - Whether any addition can be made to turnover on basis of receipts from repairing job, in absence of any inquiry regarding genuineness of such job - NO: HC

New Delhi, November 13, 2016 North Block reviews distribution of new currency notes; claims Rs 3 lakh crore of demonetised notes deposited till today�

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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

April 25, 2024 | New Delhi

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April 24, 2024 | New Delhi

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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 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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