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7, including 3 women & a child, killed in road accident in Patna UK to criminalise creation of sexually explicit deep fakes Chinese economy spikes by 5.3% in first quarter UPSC releases results of Civil Services 2023; Aditya Srivastava tops the list India’s exports marginally dips into minus in March month Diversion of goods imported under Advance Licence to Open Market: Mens rea upheld Seasonal rainfall likely to be 106 % of Long Period Average: IMD Workshop held for Eco-friendly Measures for Holistic National Highway Development I-T- Mere existence of power to assess or reassess six AYs' immediately preceding AY corresponding to year of search or 'relevant assessment year' would not justify invocation of Section 153C - HC What was Biden’s income in 2023? - ITR shows USD 6.2 lakh I-T - Act & Rules thereto provide a method for service of notices & orders; communication of notices before any action is taken, is mandatory: HC Mumbai Police nabs two shooters involved at random firing at Salman’s house I-T- Assessee cannot be expected to be logged in to I-T portal at all times, so as to be notified of actions taken by Department: HC IRS fears spurt in crypto tax evasion cases I-T - Expenses written off is only allowable if assessee offers said amount as income in previous years: HC Breast cancer to kill over 10 lakh women by 2040: Lancet Report China’s bubble tea stirs global buzz I-T- Penalty imposed u/s 271(1)(c) merits being quashed where exact charge between concealment of facts and furnishing inaccurate particulars of income, are not specified : ITAT Samsung gets USD 6.4 bn in subsidy for Texas chip production India to resume FTA talks with EU next month I-T- Assessee has not involved in manipulation of stock prices for purpose of earning bogus LTCG : ITAT TCS to hire 25K freshers in 2025 Election Commission seizes over Rs 4600 Cr cash - highest for LS polls GST - Proper officer has not applied his mind but dismissed the reply submitted as not satisfactory - Order set aside and matter remitted: HC


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Mumbai, November 10, 2014 ST - Notfn 4/2006 - Applicant is engaged in giving loan for earning interest through leased vehicles - as interest on loan is exempted from ST in terms of s.67 & rule 6(2)(iv) of Valuation Rules applicant has prima facie case: CESTAT

Kochi, November 10, 2014 I-T - Whether where money is paid by flat buyer & same remains outstanding, excess payment over & above sum paid by original buyer due to incapability to purchase flat is to be treated as interest as per Sec 2(28A) - YES: ITAT

Mumbai, November 10, 2014 Cus - Notf. 16/2000 - Exemption notification is to be construed strictly - Catalyst is required for initiating a chemical reaction & is not required for manufacture of machinery, instruments, equipment or appliances - Benefit not available: CESTAT

Mumbai, November 10, 2014 Cus - Lame excuse offered for not implementing directions of Tribunal to refund pre-deposit amount to appellant with interest - Commissioner of Customs (Import), Nhava Sheva to show cause as to why contempt proceedings should not be initiated: CESTAT

Mumbai, November 09, 2014 Cus - AO not passing order u/s 17(5) even after ten months shows scant regard for orders passed by superior & reflects poorly on Department: CESTAT

Mumbai, November 09, 2014 Cus - CBLR, 2013 - Time-limits are laid down so that inquiry progresses in time bound manner and proceedings completed within time - as Department does not seem to have any regard for time-limits, order of suspension set aside: CESTAT

New Delhi, November 08, 2014 CBDT directs officers to be more taxpayer-friendly; no coercive steps to be taken

New Delhi, November 08, 2014 CBEC happy with its initiatives to facilitate trade and encourage non-adversarial tax administration

Ernakulam, November 07, 2014 Service Tax on Hotels and Restaurants - Division Bench of Kerala High Court holds States alone have power to impose tax - Dismisses revenue appeal

New Delhi, November 07, 2014 ST - Demand of ST in respect of same transaction on ground that deposit of ST was under different category whereas different category of service has been provided cannot be held to be justifiable - Appeal allowed: CESTAT

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April 16, 2024

TP - Not adopting mandatorily prescribed methods to determine ALP in respect of fees of technical services payable by Assessee to its AE, make entire Transfer pricing Agreement unsustainable: ITAT

April 16, 2024

TP - If any third party rate is not considered for particular date of contract due to non availability of data, would not enable TPO to reject method adopted by assessee: ITAT

April 16, 2024

Companies Act - ROC's decision of rejecting application for conversion is not contrary to legislative intent of Section 18 : HC

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PMLA - If criminal case against person is quashed then there can be no offence of money laundering against him : HC

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