India has become power and coal surplus: Union Minister (See 'TOG News')I-T - Whether legislative intent behind use of expression 'in relation of prosecution of any offence' in PMGKY is to exclude a declaration only if chargesheet is filed for prosecution and not merely when investigations are conducted - YES: HC (See 'Case Stories' in 'TIOL')FM gives away awards SPMCIL (See 'TOG News')Legal Aid - SC introduces Scheme to make it affordable (See 'TOG News')CII sees lots of virtue in demonetisation (See 'TOG News')TP - Royalty paid by Indian subsidiary to its Foreign AE cannot be restricted, upon failure to show attribution of profit towards receipt of technical knowhow: HCIncome Tax - In given facts of case, it should be remanded to consider additional evidences to frame consequential assessment: ITATIncome Tax - Reopening of assessment based on change of opinion is invalid: ITATService Tax - While confirming tax already paid along with interest, penalty imposed is set aside: CESTATCentral Excise - Deed of assignment for use of brand name should be taken to be valid from date they had applied for grant of assignment: CESTATCustoms - Contention of Revenue that they are only removable or exchangeable disk drive, is not factually or technically correct: CESTATExports record positive growth for a fifth consecutive month (See 'TOG News')Merger of SBI & its subsidiaries to save Rs 1000 Crore in 1st yr (See 'TOG News')Cabinet okays proposal to set up Food Legumes Research Platform (See 'TOG News')TP - Distinguishing feature of any comapny itself is enough to exclude the same from final list of comparables: ITAT (See 'TOG Latest')Income Tax - In absence of assessee's claiming relief u/s 54F either in original return or even in revised return, the same can be granted in revision: HC (See 'TOG Latest')Income Tax - Reasonable profit margin out of purchase price, is to be estimated on basis of profit level in concerned line of business: ITAT (See 'TOG Latest')Service Tax - Appellants were registered with department and discharging service tax under a different category of service allegation of fraud not justifiable: CESTAT (See 'TOG Latest')Central Excise - As capital goods were cleared from EOU upon de-bonding under EPCG license held by assessee, no infirmity in impugned order: CESTAT (See 'TOG Latest')Customs - Import of mobile phones brands not well known or registered - Redemption Fine reduced: CESTAT (See 'TOG Latest')Foodgrains production likely to record 272 MT (See 'TOG News')
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TOG NEWS

India has become power and coal surplus: Union Minister

TOG News New Delhi, Feb 17, 2017: At the Valedictory Session of  the International Conference on NexGen Technologies for Mining and Fuel Industries - NxGnMiFu – 2017, the Power Minister, Mr Piyush Goyal, ....

FM gives away awards SPMCIL
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TOG LATEST

HYDERABAD, Feb 17, 2017
TP - Royalty paid by Indian subsidiary to its Foreign AE cannot be restricted, upon failure to show attribution of profit towards receipt of technical ....

AHMEDABAD, Feb 17, 2017
Income Tax - In given facts of case, it should be remanded to consider additional evidences to frame consequential assessment: ITAT ....

AHMEDABAD, Feb 17, 2017
Income Tax - Reopening of assessment based on change of opinion is invalid: ITAT ....

NEW DELHI, Feb 17, 2017
Service Tax - While confirming tax already paid along with interest, penalty imposed is set aside: CESTAT ....

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THE INSIGHT

Budget 2017 - Impact on individual taxpayers

By: Aarti Raote & Poornima G

The Finance Minister, Mr Arun Jaitley, presented the Union Budget 2017 on February 01, highlighting the Government's vision to Transform, Energise and Clean India. The 10 themes presented by him in the Budget, interalia emphasize the intention of the Government to work towards reduction in poverty level, focus on rural development, provide employment, digitization & infrastructure development. The recent ....

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