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Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast US imposes fresh sanctions against Iranian drone production IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects Voting for General Elections 2024 commences tomorrow Global warming up to 3 degrees to cost 10% of global GDP: Study Nexus between Election Manifesto and Budget 2024 in July!Clearing the Air: Airtel's SC Decision provides clarity on test of Agency GST implications for Corporate Debtor under IBC I-T- Petitioner's CIBIL score lowered due to same PAN being issued to another assessee who defaulted on loan; I-T Deptt to inform CIBIL of remedial measures taken: HC Brazil’s proposal to tax super-rich globally finds many takers in G20 Group I-T- Additions framed on account of unconfirmed cash loans upheld in part, where assessee is unable to discharge onus of proving source of cash deposits : ITAT CPM manifesto promising annihilation of all weapons of mass destructions including nuclear, draws flak from Defence Minister I-T- Registration of trust u/s 12A denied due to inadvertent error by assessee in filing Form 10AB but with wrong selection code; case remanded for reconsideration: ITAT Biden favours higher steel tariff on ‘cheating’ China + may up tariff on dominant solar tech suppliers I-T- Enhancement of income is not sustainable if CIT (A) not follow sec 251 and no notice given to assessee of enhancement : ITAT US Poll: Biden trumps Trump in money race by USD 75 mn I-T- Assessee is entitled for depreciation on goodwill arising out of difference between cost of acquisition and net value of assets and liabilities as per book value of CAPL : ITAT Netanyahu says Israel to decide how and when to respond to Iran’s aggression I-T- There is no scope of extrapolation in search assessment based solely on assumptions and surmises in absence of any tangible material qua the relevant assessment year: ITAT Google slays costs by laying off staffers & shifting roles outside US I-T- Re-assessment cannot be sustained where based on borrowed satisfaction & where conducted in a mechanical manner: ITAT Heavy downpours drown Dubai; Airport issues travel advisory Cus - There cannot be an exercise of jurisdiction to injunct invocation of BG, as it is a settled principle of law that bank guarantee constitutes an independent contract between the bank and the party in whose favour BG is furnished: HC HM pledges to make India completely Maoist-free GST - Except for holding that the taxpayer had availed ITC which is blocked credit u/s 17(5), no reasons are specified - Order set aside and matter remanded: HC Microsoft to inject USD 1.5 bn in AI Group G42 of UAE GST - Injustice would be caused unless petitioner is provided another opportunity to contest tax demand on merits - Subject to deposit of 10% of demand, matter is remanded: HC Canadian budget proposes more taxes on higher income groups & tax credits for EVs World leaders appeal for quick ratification of UN Ocean Treaty


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Mumbai, March 03, 2014 CX - Reduction of demand by CESTAT consequent upon ROM application is on account of it allowing rectification application and not on account of review of the order - Revenue appeal dismissed: HC

New Delhi, March 02, 2014 MSME Sector accounts for 8% of GDP & 43% of exports; PM presents awards to 110 awardees

Mumbai, March 02, 2014 CX – Excess quantity filled in Injection is as per provisions of Drugs & Cosmetics Rules, 1945 and hence appellant is not required to pay any duty thereon - Appeal allowed: CESTAT

New Delhi, March 01, 2014 Rakesh Mohan Committee Report on Transport Development Policy to be presented to PM today

New Delhi, March 01, 2014 ST - Video Production - case is evenly balanced, both on classification and on validity of invoking extended period of limitation - applicant provided customization of content received from Discovery Asia by video tape production processes - Pre-deposit ordered: CESTAT

New Delhi, February 28, 2014 Cabinet approves detailed terms of reference for 7th Pay Commission

New Delhi, February 28, 2014 CX - Revenue's attempt to recover refunded amount on ground of unjust enrichment and irrelevant SC order - Party appeal allowed with costs: SC

New Delhi, February 28, 2014 Daman & Diu Sales Tax - clarificatory notification to take effect retrospectively, Such notification merely clarifies position & makes explicit what was implicit: SC

Chennai, February 28, 2014 I-T - Whether when assessee has responded to Sec 158BC notice & participated in proceedings, can later challenge jurisdiction of block assessment merely because search warrant was not issued in his name - NO: HC

Mumbai, February 28, 2014 ST - Notfn. 11/2005 - although no time-limit is set out in notification it is settled law that reasonable time-limit has to be read into law - provisions of s.11B of CEA, 1944 has been made applicable to ST - time-limit of one year would apply for ST refunds: CESTAT

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April 18, 2024 | New Delhi

Indigenous Technology Cruise Missile successfully flight-tested by DRDO off the Odisha coast

April 18, 2024 | 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 18, 2024

INTL - Expenses incurred by a non-resident individual towards obtaining Special Power of Attorney & anciliary expenses, for purpose of transferring property located in India, are covered u/s 48(i) & allowable: ITAT

April 18, 2024

TP - If assessee has suo-moto offered guarantee commission and no inherent risk arises to financial services utilized by AE from assessee, then no further guarantee adjustment is required: ITAT

April 18, 2024

Trade Marks Act - Issue of grant of registration can be remitted back to Examiner as trade mark could not be rejected and is required to be advertised : HC

April 18, 2024

SARFAESI Act - If any borrower is aggrieved by action of private bank/ARC, then borrower has to avail remedy under SARFAESI Act and no writ petition can lie or is maintainable : HC

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