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Farmers squat on railway tracks; 54 Amritsar-route trains cancelled 4 killed & 19 hurt as truck bangs into tractor-trolley 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 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 Nexus between Election Manifesto and Budget 2024 in July!


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Hyderabad, June 26, 2015 I-T- Whether merely because assessee receives subsidy from State Govt and it sells flats at lesser costs to buyers, it becomes a charitable body - NO: ITAT

Mumbai, June 26, 2015 CHALR - Time lines laid down in Regulation 22 are meant to quicken probe and deliver justice - they are to be considered 'directory' in nature since if they are considered 'mandatory' and matter is closed on this basis, purpose of Regulations would get defeated: CESTAT

Geneva, June 25, 2015 FDI for developing countries rises by 2% in 2014; likely to be USD 1.7 trillion in 2017

Ernakulam, June 25, 2015 CST - Contract executed for Electricity Board - Petitioner made sale in-transit & sought for C Form - Whether Board can seek proof of payment of tax? - Held No - Board directed by HC to issue Form C upon petitioner producing E-2 certificate

Mumbai, June 25, 2015 I-T - Whether when assessee has exercised option of choosing AY 2008-09 as initial AY for purpose of Sec 80-IA(2), losses from such AY alone are to be brought forward as per Sec 80IA(5) - YES: ITAT

New Delhi, June 25, 2015 CX - Sub-section 35C(2A) did not give any power to grant stay; it only sought to put fetters on power of Tribunal to grant stay beyond certain period - with abolition of Sec 35C(2A) w.e.f 06.08.2014, power of Tribunal in no way got attenuated: CESTAT

New Delhi, June 25, 2015 Customs - In law it is nowhere required that before dealing with new client CHA is required to meet client personally - Penalty set aside and appeal allowed: CESTAT

Allahabad, June 24, 2015 Provisions of Mandatory pre-deposit of 7.5%/10% are not ultra vires or unconstitutional - Amended provisions apply to appeals filed after 06.08.2014: High Court

New Delhi, June 24, 2015 CENVAT - Rule 6 of CCR, 2004 - Amount of 5%/10% paid to Government but also 'recovered' from customers - such amounts cannot be treated as 'additional consideration' and added to sale price so as to again demand 5%/10% on same: CESTAT by Majority

Mumbai, June 24, 2015 Cus - Over-valuation to claim higher DEPB - Penalty on officers - being recently posted they may have lacked in training in clearance of export goods - non-drawing of samples can be held as dereliction of duty which can be proceeded in terms of CCS Rules, 1965 -charge of abetment not proved: CESTAT

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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

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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