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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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Bangalore, November 30, 2018 I-T - Any conclusion to be recorded by authority should stand preceded by reasons: HC

Mumbai, November 30, 2018 ST - Transaction between respondent and assignee is one of assignment of debt/sale of receivables for a consideration and not one of providing taxable service of OIDAR: CESTAT

New Delhi, November 29, 2018 Cus - DFIA is intended to exempt inputs used in production of other goods & is not concerned with materials that have been used in production of those inputs: HC

Mumbai, November 29, 2018 I-T - Information received by AO from DGIT (Inv) which in turn is based on incriminating inputs received from VAT constitutes new material to justify reopening of assessment: ITAT

Mumbai, November 29, 2018 ST - Revenue should have, as per order of Commissioner (A), made calculation of Service Tax payable rather than filing appeal: CESTAT

Mumbai, November 28, 2018 ST - Revenue cannot recover tax without authority of law - Amendment of form VCES-1 should have been allowed: HC

New Delhi, November 28, 2018 CX - Questions of law urged by appellant are purely factual - appeal dismissed: HC

Mumbai, November 28, 2018 ST - Notification No 17/2011-ST could not have eclipsed or restricted exemption provided by S.26(1)(e) of SEZ Act, 2005: CESTAT

New Delhi, November 28, 2018 I-T - Assumption of jurisdiction u/s 147 is void ab-initio if there is non-application of mind in recording reasons & there is lack of link between formation of belief by AO and tangible materials : ITAT

Mumbai, November 27, 2018 ST - SCN has been issued demanding tax under category of 'Management, Maintenance & Repair Service' and, therefore, confirmation of demand under another category viz. IPR service cannot be justified: CESTAT

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