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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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New Delhi, May 04, 2018 I-T - Transfer of Occupancy Rights in land gives rise to capital gains, taxable u/s 50C: HC

Mumbai, May 04, 2018 I-T - ALV based on municipal rateable value cannot be turned down without cogent reasons: ITAT

Mumbai, May 04, 2018 CX - Stand of department that valuation should be arrived at in terms of rule 11 r/w rule 4 of Valuation Rules, 2000 since samples were captively consumed is unsustainable: CESTAT

Ernakulam, May 03, 2018 GST - Lottery subject falls exclusively in domain of Parliament - Rule 56(20A)(iii)(d) of Kerala GST Rules, 2017 struck down - police cannot act merely based on information given by Tax officials: High Court

Mumbai, May 03, 2018 CX - Rule 6 applies on trading activity only in a case when goods are purchased and sold without taking credit and without payment of duty - clearance u/r 3(5) of CCR is not exempted service: CESTAT

New Delhi, May 03, 2018 I-T - Provisioning norms issued by RBI with respect to 'income recognition' cannot be used for computation of taxable income: HC

Ernakulam, May 03, 2018 I-T - A company having both domestic as well as export businesses, is entitled to claim benefit u/s 80HHC: HC

New Delhi, May 03, 2018 I-T - Assessment can not be reopened for mere non disclosure of method used for calculation of disallowance u/s 14A : ITAT

New Delhi, May 02, 2018 I-T - Loan waiver granted by overseas supplier of capital assets is not akin to waiver of trading liability and it does not fall within purview of Sec 41(1): Supreme Court

New Delhi, May 02, 2018 I-T - Legislative intent behind provisions of Sec 40(a)(ia) is to ensure tax compliance and not to punish tax payer: Supreme Court

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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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