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RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes 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 SC asks EC to submit more info on reliability of EVMs Right to Sleep - A Legal lullaby


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New Delhi, May 01, 2014 Income tax - Whether losses can be carried forward even if legal personality of an entity gets extinguished and whether new entity can set off losses of non-existent 'person' by filing return on its behalf - NO: Supreme Court

Kolkata, May 01, 2014 CX - electricity consumption cannot be only factor or basis for determining duty liability - Stay Order of Tribunal - Appeal or Writ?

Mumbai, May 01, 2014 ST - Onshore Terminal is not Transport terminal hence is not excluded from levy of ST under Industrial Construction Service - concept of transport terminal is relevant for transportation by air, sea, road & not for transporting gases through pipelines - Afcons Infra loses case in CESTAT

Allahabad, May 01, 2014 CX - Rebate - Restrictions in relation to period imposed by CBEC Circular NO 354/1997 are not valid - Refund claims to be processed by ignoring Circular: HC

Chandigarh, May 01, 2014 I-T - Whether quashing of proceedings by ITAT for faulty service of notice under Ss 148, 143(2) & 142(1) amounts to allowing assessee to go scot-free even if he is liable to pay capital gains tax - YES: HC

New Delhi, May 01, 2014 Cus - Import of old photocopier - whether TV should be adopted as AV or should it be arrived on basis of Chartered Engineer certificate - whether RF & penalty can be reduced to 10% & 5% res. - Matter referred to TM: CESTAT

Mumbai, April 30, 2014 Cus - Except for fact that appellant sold security seals to non-existent firm, there is nothing on record to show that appellant had any knowledge that security seals sold by him would be misused for sealing containers in which red sanders would be stuffed - stay granted: CESTAT

Mumbai, April 30, 2014 Cus - Revenue alleged respondent imported Modems in CKD form - from evidence it cannot be said that parts imported are not further worked upon - there is also no suppression since respondent has not misdeclared goods: CESTAT

Chennai, April 30, 2014 CST - Error apparent - If interstate sale not covered by Form C, tax rate to be equivalent to VAT rate applicable in particular State - Interstate sale without Form C - Application of wrong rate by grouping all items - Application for rectification not considered - Department directed to consider it: HC

Mumbai, April 30, 2014 Income tax - Whether, for purpose of block assessment, it is necessary that name of assessee must figure in warrant of authorisation u/s 132 - YES: HC

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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.

April 25, 2024 | New Delhi

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April 24, 2024 | New Delhi

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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

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

April 25, 2024

IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC

April 25, 2024

SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC

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