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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, December 27, 2015 Year 2015 saw DoPT taking several out of box administrative initiatives

Mumbai, December 27, 2015 CX - Rejection of request for provisional assessment only for not providing records to finalize assessment for earlier period cannot be a reason as department in many cases have undertaken exercise of finalizing provisional assessment belatedly: CESTAT

Mumbai, December 26, 2015 Cus - No person has a vested right in grant of an exemption - HC in its jurisdiction cannot direct Govt to grant an exemption that was never granted earlier in first place until it framed FTP 2015-2020 - Petition dismissed: HC

New Delhi, December 26, 2015 Govt focuses on citizen centricity aspect of all delivery mechanisms; All forms to be reduced to single A4 size paper

New Delhi, December 25, 2015 Govt focuses on building a safe and environmentally sound Road Network

New Delhi, December 25, 2015 CBDT pays Rs 43000 Cr interest on refund in six years; It is violative of Constitutional provisions: CAG Report

Ahmedabad, December 24, 2015 Imported goods procured from local dealers by SEZ - Rebate under Rule 18 of CE Rules is not admissible - No error in rejection of rebate by Revenue: HC

New Delhi, December 24, 2015 I-T - Whether amendment made in Sec 153C whereby words 'pertain to' and 'relate to' have been inserted by Finance Act, 2015 has prospective effect w.e.f 1-6-2015 - YES: ITAT

Ahmedabad, December 24, 2015 Denial of Cross examination of Chief Chemist - There is clear breach of principles of natural justice � Impugned order set aside and matter remanded � Petition maintainable under Article 226 despite alternative remedy: HC

Bangalore, December 23, 2015 Manufacturer cum Service provider - Composition under Works Contract cannot be denied on ground that assessee availed CENVAT credit on inputs used for manufacture of goods which are in turn used in execution of Works Contract - CESTAT

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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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