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Jio turns world’s top telco in terms of data traffic India takes part in 'Institutionalization of SMART Government for Improving Service Delivery' in London Gadkari faints during campaign; Heat takes toll on his health 'Sunflowers were the first ones to know' - film by FTII student selected at Cannes SARFAESI Act - Award of interest on auction money at rate applicable to fixed deposits is not a correct view and rate of interest deserves to be enhanced: SC (See 'TIOLCorplaws')ST - Chit Funds - Tax was not paid under mistake of law but upon demand by tax authorities - Refund not having been filed within time was rightly rejected: HC SC asks EC to submit more info on reliability of EVMs GST - Without considering reply on merits, proper officer has held that reply is unsatisfactory and, therefore, he is left with no alternative but to create demand - Order set aside: HC GST - Cancellation of registration retrospectively - Show Cause Notice and the impugned order are bereft of any details, accordingly the same cannot be sustained: HC GST - Registration could not have been cancelled retrospectively for the period for which returns were filed and taxpayer was compliant: HC GST - Notfn 11/2017-CTR amended by 03/2022 - Work contracts executed before 18 July 2022 - Petitioners should file refund claims before respondent agitating grievance and same be examined and orders passed within 4 months: HC Italy imposes USD 10 mn fine on Amazon for unfair business practices GST - Entire tax liability has been realised by appropriating the amount from the petitioner's bank account, therefore, Revenue interest stands fully secured - Since tax proposal was confirmed without participation of petitioner, order set aside and matter remanded: HC Caste Census is my mission, says Rahul Right to Sleep - A Legal lullaby US warns Pak of punitive sanctions against trade deal with Iran I-T- Income surrendered before approaching Settlement Commission not covered u/s 115BBE, where this provision did not exist during relevant AYs: HC Chinese companies decry anti-subsidy probe by EU I-T- Entire interest expenditure is allowable as deduction if loan funds is not diverted for non-income earning activities/personal purposes : ITAT UK to send military aid package worth USD 619 mn to Ukraine US regulator bans non-compete agreements by employees Air India, Nippon Airways join hands for travel between India and Japan SC grills Baba Ramdev & Balkrishna in misleading ad case


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New Delhi, May 22, 2014 CENVAT - Nobody invites fire - Revenue explanation that fire has occurred on account of negligence on part of assessee cannot be appreciated - no malafide hence penalty not imposable: CESTAT

Kolkata, May 22, 2014 Income tax - Whether a gratuitous one-time settlement amount paid by licensor to licensee out of goodwill gesture, at time of termination of agreement, but not under any contractual obligation can be treated as revenue receipts - NO: HC

Mumbai, May 22, 2014 ST - Construction of Hostel for Women and Synthetic Track in University is prima facie not 'Commercial construction service': CESTAT

Mumbai, May 21, 2014 Cus - Change from USD to Euro in Bill of Entry - Duty paid on Euro value - Rectification allowed by Commissioner(A) as being typographical mistake is proper in law - Revenue appeal dismissed: CESTAT

Mumbai, May 21, 2014 ST - Refund - Appellants charging client based upon quantity of concrete pumped through equipment installed by them - as charges are not in nature of rental but with reference to work performed they are to be held as inclusive of ST - unjust enrichment attracted: CESTAT

Ahmedabad, May 21, 2014 Income tax - Whether provisions of Sec 179 will apply in case where project runs into losses due to earthquake and FIs restructure debt and permit sale of property and creditors being proportionately paid out of such sale proceeds and when payments were made, assessment order was still pending - NO: HC

New Delhi, May 21, 2014 ST - Proprietary unit was taken over by Pvt Ltd company - due to delay in getting name changed in agreement with client, appellant unable to deposit ST - no malafide - penalty set aside: CESTAT

New Delhi, May 21, 2014 CX - Stock taking at Branch Sales offices showed that there was excess sale of certain steel products as compared to quantity received from respective steel plant - it cannot be presumed that goods were cleared clandestinely by PSU steel companies: CESTAT

Mumbai, May 20, 2014 CX - Valuation - Cost of packing of durable and returnable nature is not includible in assessable value - Revenue appeal dismissed: CESTAT

Mumbai, May 20, 2014 ST - Refund - Rule 5 of CCR, 2004 - Dy. Commr.rejecting refund claim by passing similar orders & by applying some general rule although HC on earlier occasion directed him to consider refund applications in accordance with law - Order quashed and matter remanded: High Court

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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

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April 24, 2024

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