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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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New Delhi, October 31, 2014 Cus - Exemption to goods imported for Common Wealth Games - Exemption extended to suppliers, contractors & vendors of Organising Committee by amending Notifn No 84/2010 cannot be applied retrospectively: CESTAT

New Delhi, October 31, 2014 Income tax - Whether when income of assessee is finally assessed u/s 115JB and not under normal provisions of Act, addition can still be made with respect to income determined under normal provisions - NO: ITAT

Hyderabad, October 31, 2014 CX - Balance sheet figures included quantity of re-rolled products traded - demand on differential quantity dropped by CCE & Revenue appeal dismissed by Tribunal - in grounds taken by Revenue, there hardly exists any element of law - Reference rejected: HC

Mumbai, October 30, 2014 Cus - A trader-importer, who paid SAD & who discharged VAT or ST liability on subsequent sale, and who issued invoices without indicating details of duty paid would be entitled to benefit of Notifn 102/2007: CESTAT

Mumbai, October 30, 2014 Income tax - Whether provisions of Sec 14A come into play only after AO first examines disallowance made by assessee itself and then AO is not satisfied with same - YES: ITAT

New Delhi, October 30, 2014 CENVAT on capital goods used in manufacture of exempted goods - Credit not deniable if at time of receipt, appellant had intention to use machinery for manufacture of dutiable as well as exempted goods - Matter remanded: CESTAT

Mumbai, October 29, 2014 ST - In Notfn 11/2010 expression 'for' means 'for purpose of' - Transmission, as per Electricity Act includes conveyance of electricity by transmission lines and includes setting up of sub-stations to accommodate transformers, therefore, activity of industrial construction in this regard also stands exempted: CESTAT

Mumbai, October 29, 2014 ST - Appellant places ads for clients in various media - On volume discounts, rate difference and amounts written back, demands under BAS cannot be sustained as these are either incentives or accounting adjustments and not consideration for any services: CESTAT

Mumbai, October 29, 2014 Cus - Conversion of Shipping Bill for duty free goods into SB for drawback - Only Division Bench, not single member bench, can hear such case: CESTAT

Mumbai, October 29, 2014 Income tax - Whether if a contract for sale or purchase is ultimately settled and no actual delivery of goods is effected under settlement, it is to be treated as speculative transaction - YES: ITAT

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

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