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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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Ahmedabad, November 07, 2014 I-T - Whether when assessee is under investigation, Revenue is legally right in collecting cheque payments towards future tax demand in order to protect its own interest - NO: HC

Ahmedabad, November 07, 2014 CX - Appeals filed by Revenue on basis of an invalid Review authorization deserve to be dismissed as not maintainable: CESTAT

Mumbai, November 06, 2014 Graph of Cheque-related frauds on the rise; RBI directs banks to take additional preventive measures

New York, November 06, 2014 Asia's landlocked countries need stable policy framework; UN adopts 10-year Action Plan for 32 landlocked developing economies

Mumbai, November 05, 2014 ST - Receipt of data and edit fees - Service rendered is to collect and transmit data to foreign sister concern & consideration is paid on cost plus basis - such services do not seem to be of nature of any 'management or repair services': CESTAT

Mumbai, November 05, 2014 ST - Contract for collection of proceeds from foreign buyer is between appellant and its Indian branch - Thus, both are situated in India and, therefore, there is no import of service involved - Stay granted: CESTAT

Chennai, November 05, 2014 Income tax - Sec 54EC - Whether even if investment falls under two financial years, benefit claimed by assessee cannot be denied, although it crosses limit of Rs 50 lakhs - YES: HC

Allahabad, November 05, 2014 Import of pax car radial tyres requiring BIS Certification - Revenue's appeal against allowing clearance of goods on payment of redemption fine instead of re-export - Matter remanded: High Court

New Delhi, November 04, 2014 Income tax - Whether when company has been dissolved and amalgamated with different company, it can be said to be incumbent upon Revenue to substitute name of successor company in place of old one in assessment order - YES: HC

New Delhi, November 04, 2014 CX - As brand name owner is eligible for benefit of SSI exemption in terms of notf. 175/86 during relevant period, goods manufactured by respondent in brand name of 'Precitex' is also eligible for SSI exemption: CESTAT

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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

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

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

I-T- DTAA does not get triggered at all when a domestic company pays DDT u/s 115-O of the Act : ITAT

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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