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7, including 3 women & a child, killed in road accident in Patna UK to criminalise creation of sexually explicit deep fakes Chinese economy spikes by 5.3% in first quarter UPSC releases results of Civil Services 2023; Aditya Srivastava tops the list India’s exports marginally dips into minus in March month Diversion of goods imported under Advance Licence to Open Market: Mens rea upheld Seasonal rainfall likely to be 106 % of Long Period Average: IMD Workshop held for Eco-friendly Measures for Holistic National Highway Development I-T- Mere existence of power to assess or reassess six AYs' immediately preceding AY corresponding to year of search or 'relevant assessment year' would not justify invocation of Section 153C - HC What was Biden’s income in 2023? - ITR shows USD 6.2 lakh I-T - Act & Rules thereto provide a method for service of notices & orders; communication of notices before any action is taken, is mandatory: HC Mumbai Police nabs two shooters involved at random firing at Salman’s house I-T- Assessee cannot be expected to be logged in to I-T portal at all times, so as to be notified of actions taken by Department: HC IRS fears spurt in crypto tax evasion cases I-T - Expenses written off is only allowable if assessee offers said amount as income in previous years: HC Breast cancer to kill over 10 lakh women by 2040: Lancet Report China’s bubble tea stirs global buzz I-T- Penalty imposed u/s 271(1)(c) merits being quashed where exact charge between concealment of facts and furnishing inaccurate particulars of income, are not specified : ITAT Samsung gets USD 6.4 bn in subsidy for Texas chip production India to resume FTA talks with EU next month I-T- Assessee has not involved in manipulation of stock prices for purpose of earning bogus LTCG : ITAT TCS to hire 25K freshers in 2025 Election Commission seizes over Rs 4600 Cr cash - highest for LS polls GST - Proper officer has not applied his mind but dismissed the reply submitted as not satisfactory - Order set aside and matter remitted: HC


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Chandigarh, May 22, 2018 I-T - Abnormally high LTCG in short span of time without expert advice, from unlisted company's share whose even net worth is not known to assessee, is beyond business logics and is a valid reason to make addition u/s 68: ITAT

Mumbai, May 22, 2018 CX - CENVAT - Merely routing billing transaction through appellant will not make appellant as recipient of C&F service: CESTAT

Mumbai, May 22, 2018 ST - Whether ticket is bought directly from airline or through General Sales Agent (GSA), same would not make any difference - classifying services under BAS and demanding tax is not sustainable: CESTAT

Mumbai, May 21, 2018 CX - Valuation -S.4 of CEA, 1944 - Price prevailing for sale at depot immediately 'prior' to clearance from factory gate was to be adopted: CESTAT

Chennai, May 21, 2018 I-T - Assessee cannot claim interim stay against recovery proceedings as a matter of right, simply on ground of his appeal pending before higher Forum: HC

Mumbai, May 21, 2018 ST - Site Transfer activity involves processing of goods not amounting to manufacture and, therefore, same are taxable under BAS - services partly performed outside India is also export - rebate available: CESTAT

Ahmedabad, May 19, 2018 I-T - If assessee fails to produce certain documents, it does not legitimise AO�s presumption that transactions were not genuine: HC

Jaipur, May 19, 2018 I-T - Income surrendered during search can be set off against business loss for AY 2013 -14 as amendment in Sec 115BBE is operative only from AY 2017-18: ITAT

New Delhi, May 18, 2018 I-T - If any industrial undertaking avails benefits under Ss 80-IA & 80-IB, it is still entitiled to avail Sec. 80-IC benefits: SC

Ahmedabad, May 18, 2018 I-T - When assessee's claims were not rejected during original assessment even after scrutiny, any attempt to reopen same would amount to mere 'change of opinion': HC

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April 16, 2024

TP - Not adopting mandatorily prescribed methods to determine ALP in respect of fees of technical services payable by Assessee to its AE, make entire Transfer pricing Agreement unsustainable: ITAT

April 16, 2024

TP - If any third party rate is not considered for particular date of contract due to non availability of data, would not enable TPO to reject method adopted by assessee: ITAT

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Companies Act - ROC's decision of rejecting application for conversion is not contrary to legislative intent of Section 18 : HC

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