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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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Chandigarh, December 13, 2015 It is well settled that one fact can make all the difference - If the inquiry report was not supplied to the petitioner, it had no legal value without due communication - Petition premature, hence dismissed: HC

New Delhi, December 12, 2015 I-T - Whether Sec 80IA(9) mandates that profits allowed as deduction u/s 80IA have to be reduced from profits of undertaking while computing deduction under any another provisions under heading C in Chapter VIA - Matter referred to Larger Bench: SC

Chandigarh, December 12, 2015 CX�Director is not personally liable towards liability of company - It is well settled that in absence of any specific provision in statute, duty/penalty liability of company cannot be recovered from assets of its director: High Court

New Delhi, December 11, 2015 ST - Cut & Paste from another O-I-O in a different dispute - Non application of mind by Adjudicating Authority - Such order adversely impacts 'ease of doing business' environment - CESTAT imposes cost of Rs 10,000 on Commissioner

Mumbai, December 11, 2015 ST - Refund - It is settled legal position that even though refund claim is lodged in a different jurisdiction, same cannot be rejected only for want of right Jurisdiction - only aspect that is to be ensured is that refund should not be claimed by more than one person: CESTAT

New Delhi, December 11, 2015 I-T - Whether mere passing of a restraint order would extend time limit available for completion of assessment pursuant to search - NO: HC

New Delhi, December 11, 2015 CX - It is only commencement of commercial production which is essential and not emergence of fully saleable finished product - Benefit of Notfn 50/2003 rightly extended: CESTAT

New Delhi, December 10, 2015 Sodexo Meal Vouchers are not 'goods' within meaning of Sec 2(25) of Maharashtra Municipal Corporation Act and, therefore, not liable for either Octroi or LBT: Supreme Court

New Delhi, December 10, 2015 ST - Penalty - s 78 - CESTAT cannot extend time for Respondent to pay reduced penalty within 30 days from date of order of CESTAT - Revenue's appeal allowed: HC

Mumbai, December 10, 2015 CX - It was duty of Audit party to consider whether classification & benefit of notification claimed was correct - department cannot say that EA-2000 was not for classification but other procedural aspects - demand time-barred: CESTAT

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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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