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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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New Delhi, October 20, 2015 Cus - Court in exercise of judicial review powers cannot enter into domain of Policy making - mere possibility of abuse of law does not per se invalidate a legislation - grievance of petitioners is of misuse of Policy - Writ dismissed: HC

Allahabad, October 20, 2015 I-T - Whether transfer for purpose of Sec 50C stands consummated and provisions of 48 come into play as soon as agreement to sale is executed and part consideration is received - YES: HC

New Delhi, October 20, 2015 ST - Franchise service - No part of agreement gives slightest support to contention that it gave representational right to manufacturers to manufacture goods identified with appellant - Demand set aside: CESTAT

Mumbai, October 19, 2015 CX - Valuation - Sales Tax deferment scheme & option to pay prematurely NPV (Net present value) of deferred tax - Revenue view that differential between deferred sales tax payable and NPV paid would form part of AV is untenable: CESTAT

New Delhi, October 19, 2015 ST - Refund - Notfn 41/2007 - If documents provide necessary particulars as required under Rule 4A of STR, 1994, merely because documents are debit notes refund cannot be denied: CESTAT

Mumbai, October 19, 2015 ST - Residential buildings constructed by appellants are allotted by Power Station as residential quarters to employees - activity not covered under definition of 'Construction of complex' and, therefore, does not attract Service tax: CESTAT

Ranchi, October 19, 2015 I-T - Whether in block assessment case any legally sustainable addition can be made based on cash memo seized for broken period - NO: HC

Chennai, October 19, 2015 Central Excise - Classification - Holograms supplied to State Excise and Prohibition Department, Govt of Tamil Nadu - Classifiable under CETH 4901 - Not under 3919 - Demand set aside: CESTAT

Mumbai, October 18, 2015 Cus - Courier Regulations - There is no notice issued proposing revocation within meaning of Regulation 14 - Without any such proposal, choosing to suspend registration is illegal: High Court

Mumbai, October 18, 2015 ST - Appeal has been dismissed only on technical ground of non-production of requisite certificate or proof of room rent being charged and bills raised in that behalf - Tribunal should have granted opportunity to produce evidence - Matter remanded: High 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

April 24, 2024

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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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