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RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes 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 SC asks EC to submit more info on reliability of EVMs Right to Sleep - A Legal lullaby


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New Delhi, September 11, 2016 Provisions relating to GST Council to come into force from Monday; RS speeds up preparations and selection of officials required for Council; Constitution of Council to be notified within 60 days from Sept 12

Mumbai, September 10, 2016 ST - Paragraph reproduced in final order being out of context and not required, expunged - ROM application allowed: CESTAT

New Delhi, September 10, 2016 Drive against IPR-violating imports; ICD Customs seizes fake goods of several international brands worth Rs 7.5 Crore; Sleuths discover 'carrier' being used to import from China

Ahmedabad, September 09, 2016 Cus - Computation of NFE would be FY wise and which would be beginning of FY following year in which manufacturing activity commences - Under no circumstances such period would be period anterior to date of manufacturing activity: High Court

Amritsar, September 08, 2016 I-T - Whether Revenue is free to raise demand u/s 201(1A) on ground of non-mentioning of TDS on declarations when PAN of deductees were available and non-recording of same on declarations was only technical breach - NO: ITAT

Guwahati, September 08, 2016 Whether Revenue has jurisdiction to realise entertainment tax collected by an exhibitor during period when he was availing exemption benefit, merely on ground that such tax is ultimately borne by movie-goers - NO: HC

Mumbai, September 08, 2016 Cus - Notification 23/2001-Cus(NT) will have prospective effect - Goods warehoused prior to 01.06.2001 shall be governed by old provision where interest free period of 180 days is available - Appeal allowed: CESTAT

Mumbai, September 08, 2016 Appellants paying VAT on sales price to OMCs which also pay VAT on sales price to customers - argument that sale is not taking place but is paper transaction is incorrect - payment of duty on net sale price cannot be faulted: CESTAT

New Delhi, September 07, 2016 Promotion Issue - Whether DPC held as per extant IRS Rules, 1988 and also DoP&T OM, just before cabinet approval of Cadre Review stands valid and Review DPC to demote promoted officers as per new restructuring plan is legally not sustainable - YES: HC

New Delhi, September 07, 2016 UP Trade Tax Act - Bitumen - bitumen emulsion would be covered by Entry bitumen: Supreme Court

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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

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SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC

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