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Musk defers India’s trip citing heavy Tesla obligations India needs to design legislative pills to euthanise tax-induced expatriation!I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITAT Torrential rains cause havoc in Pakistan; 87 killed I-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITAT US imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to Pakistan CX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTAT Dubai terribly water-logged as it has no storm drains ST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTAT EU online content rules tightened against adult content firms Cus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTAT EV market cools off in US; Ford, GM eyeing gas-powered trucks Apple China tosses out WhatsApp & Threads from App store after being ordered China announces launch of new military cyber corps Railways operates record number of additional Trains in Summer Season 2024 GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC 1st phase polling - Close to 60% voter turnout recorded Ministry of Law to organise Conference on Criminal Justice System tomorrow GST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HC Govt appoints New Directors for 6 IITs Nexus between Election Manifesto and Budget 2024 in July!Israel launches missile attack on Iran EC holds Video-Conference with over 250 Observers of Phase 2 polls


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Mumbai, October 06, 2015 I-T - Whether share trading or banking activity can be said to have an inherent quality of producing both regular banking income as well as dividend income, to qualify as condition for apportionment of expenses u/s 14A - YES: ITAT

New Delhi, October 06, 2015 ST - Refund - Direction of Commr(A) to verify total credit available as unutilized credit would result in waste of time as accounts were already subject to audit and as there is no such allegation raised in SCN: CESTAT

Paris, October 05, 2015 Final report on BEPS Project released; reveals annual revenue loss of USD 100-240 bn to Exchequers

Chennai, October 05, 2015 Benefit of Notification No 67/95 CE is admissible to clinker captively consumed for manufacture of Cement supplied to SEZ units/Developers - Tribunal allows bunch of appeals by Cement Companies and dismisses revenue appeals

Bengaluru, October 05, 2015 VAT - In course of ERP implementation even if any software comes into existence, title of software vests with client & not with assessee - they are not goods available in market - not liable to VAT: High Court

Mumbai, October 05, 2015 CX - Clandestine production and clearance of TMT bars without payment of duty - No credence can be paid to capacity determined under compounded levy scheme introduced in 1998 and abandoned after 2-3 years as scheme did not work properly: CESTAT by Majority

New Delhi, October 05, 2015 I-T - Whether when assesse's business is not restricted to only financing and treats re-possessed vehicles as stock-in-trade, any loss arising out of re-sale of such vehciles is to be construed as revenue loss - YES: ITAT

Mumbai, October 05, 2015 ST - Wikipedia has universal appeal among internet users but fails to acquire oracular significance - it is a source of knowledge for amateur research - Project titles may, in general, indicate content, however, determination of tax liability without examining specifics is inappropriate: CESTAT

Mumbai, October 04, 2015 ST - Respondent could have entertained a bonafide belief as to non-applicability of ST on contract executed by them - penalty imposable u/s 76 of FA, 1994 waived by invoking s.80 of FA, 1994: CESTAT

Nainital, October 03, 2015 VAT - Whether assessee is entitled to benefit of input tax credit on tax paid on packing materials used in manufactured products which were stock transferred outside the State concerned - NO: High Court

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April 19, 2024

I-T- Onus of establishing receipt of services from Associated Enterprise has to be discharged on year to year basis by assessee company: ITAT

April 19, 2024

DTAA - Payment received on account of subscription, professional and training services cannot be deemed to be Fees for Technical service and be taxed as Royalty, where no technical know-how is made available: ITAT

April 19, 2024

Companies Act - Charges of professional misconduct in SCN are proved for which monetary penalty can be imposed : NFRA

April 19, 2024

PMLA - Application for anticipatory bail can be rejected as there is failure on part of applicant to appear before trial Court despite service of bailable warrant : HC

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