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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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Allahabad, January 07, 2014 Income tax - Whether when assessee receives interest on additional compensation in lieu of his land acquired by the State after Supreme Court decision, interest is to be charged retrospectively - NO: HC

Mumbai, January 07, 2014 CENVAT - SCN alleges credit was taken wrongly - if credit is taken intentionally then it cannot be taken wrongly but if it is mentioned wrongly, then it cannot be intentional - SCN alleges two contrary terms - benefit of doubt goes to assessee: CESTAT

Mumbai, January 06, 2014 ST - Tax saving bond is Govt security - Logic contained in Board Circular clarifying that there is no ST liability on underwriting fee received by dealers for dealing in securities would apply in respect of brokerage received for sale of tax savings bonds: CESTAT

Ahmedabad, January 06, 2014 Income tax - Whether activity of blending and mixing of reactive dyes amounts to manufacture and same is eligible for Sec 80IC benefits - YES: ITAT

Mumbai, January 06, 2014 CX - Cutting and slitting of Jumbo rolls of Al film - respondent paying duty by taking CENVAT credit of duty paid on Jumbo Rolls - Revenue alleging that since activity does not amount to manufacture credit cannot be availed - Revenue appeal dismissed: CESTAT

New Delhi, January 05, 2014 Swelling obesity: High-income countries suffer more; Overweight becoming serious problem in Developing World

Thiruvananthapuram, January 05, 2014 Export of software: Govt trying to resolve immigration and visa issues, says Prime Minister

Mumbai, January 04, 2014 CX - when goods are sold from different depots, for arriving at 'normal transaction value' of 'greatest aggregate quantity' what is to be taken is value at a particular depot from where goods are sold and not values prevalent at other depots: CESTAT

Hyderabad, January 03, 2014 Income tax - Whether provisions of sec194A are applicable to interest paid to a company whose shares are held by either Central or State Government - NO: ITAT

Mumbai, January 03, 2014 ST - Rule 5(1) which provides for inclusion of expenditure is held to be ultra vires by Delhi HC to that extent only - S.67 provides for payment of ST on gross amount - in present case, service is supply of manpower and there are no such expenses like travel cost & hotel stay as in referred case - appeal dismissed: 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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April 2024 Edition

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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