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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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Chennai, March 25, 2019 ST - International GSM Roaming service provided by Indian operator to foreign counterparts is export of service even if ultimate user of such service is latter's subscriber visiting India: CESTAT

Allahabad, March 25, 2019 I-T - Once very basis for referring matter to DVO stands vanished, then entire assessment proceedings on basis of such valuation will be rendered unjustified: HC

Ahmedabad, March 22, 2019 I-T - Revenue is not permitted to make additions based on unrelated incriminating materials found during course of search, if no assessments are pending on date of search: ITAT

Chennai, March 22, 2019 ST - Seeking to tax a particular commission amount under Excise duty & later demanding Service tax on very same amount is an exercise in incredulity: CESTAT

Mumbai, March 20, 2019 ST – Tribunal has not discussed applicability of provisions proposed in SCN, hence there is a mistake apparent on record, which calls for rectification: CESTAT

Mumbai, March 20, 2019 I-T - If transfer of capital assets is not finalised, part payment made in a particular AY cannot be subjected to capital gains: ITAT

Mumbai, March 20, 2019 ST - In absence of any consideration, service tax cannot be charged: CESTAT

Mumbai, March 19, 2019 I-T - Mere reference of term 'agency' in agreement, by itself is not conclusive of relationship between parties for attracting Section 28(ii)(c): HC

Chennai, March 19, 2019 I-T - Mercantile system is not appropriate method for revenue recognition, in case there is uncertainty in ultimate recovery of revenue: HC

Chennai, March 19, 2019 CX - Whether supply of Modvatted inputs to 100% EOU are governed by Notfn. 1/95-CX or rule 57F of CER, 1944 - Matter remanded: HC

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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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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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