In a setback to DLF, the competition Appellate Tribunal on Monday upheld the CCI order imposing Rs 630 crore penalty on the realty major for unfair business practices.
The taxation of payments by Indian companies for importing defence material and oil and gas equipment from various countries like Russia, Ireland, Greece and Georgia will now become easier following an Income Tax Appellate Tribunal order.
Bharti Group chairman Sunil Mittal on Tuesday said the unified licensing regime proposed by the Telecom Regulatory Authority of India could not be pursued in its present form, as it was in contradiction of the TDSAT judgement.
The tribunal, while adjourning the matter for September 16, directed Sebi to file a reply and gave three weeks to the Roys to file a rejoinder.
Setting aside the orders of the AO and Commissioner of Income Tax (Appeals) in case of Delhi-based Genesis Overseas case, the ITAT has ruled that tax sleuths cannot impose penalty without clearly mentioning the grounds for such action.
Although the Singapore-based World Sports Nimbus has decided to file an appeal against the CIT (Appeals) order with the Income Tax Appellate Tribunal, the tax case will have wide implications for foreign companies telecasting live cricket matches. In the present case, assessing officer imposed a tax liability of Rs 6 crore (Rs 60 million) on Nimbus on the income it had earned by telecasting live cricket matches during 2002 to 2005.
This has to be one of the most blatant tricks Raja is pulling off.
Domestic traders body CAIT on Thursday said that much against the declared spirit of GST as good and simple tax, it has become a "colonial taxation system" not compatible with the ground realities of business in India. Various amendments and introduction of rules under GST in the recent past have made the tax systems system much more complicated and put much compliance burden on the traders, it said in a statement. The Confederation of All India Traders (CAIT) added that it is not alone the centre but largely the state governments are more responsible for distorting the GST taxation system and bringing disparities and anomalies in it which has made it a more complex system and a "big headache" for the traders.
A bench comprising Justice Aftab Alam and Justice R M Lodha set the open offer price for Zenotech Labs at Rs 113.62 per share, as against Rs 160 per share fixed by the SAT for Daiichi-Sankyo to acquire an additional 20 per cent stake in the company.
The government's contention was that Sahara Airlines Ltd (now JetLite) was promoting the real estate and housing business and area operations of Sahara India Commercial Corporation.
Harshvardhan Nawathe, who won the Rs 1-crore (Rs 10 million) prize money on quiz show 'Kaun Banega Crorepati', continues to face queries on his tax liability even nine years after he emerged as the winner of the popular television reality show.
The order, which came on Monday, stated that revenue authorities cannot split the agreement when the parties to the agreement considered the royalty and technical knowhow as a single package.
Cable operators body has demanded an equal footing with the DTH players.
The Delhi High Court on Monday refused to pass any order on the telecom appellate tribunal's decision pertaining to spectrum allocation, even as GSM mobile players sought a probe into the government's move to allow use of dual technology.
Reliance Energy Ltd said on Friday the Appellate Tribunal for Electricity has quashed an order of Maharashtra Electricity Regulatory Commission that restricted the company from offering rebates to its retail consumers in the city.
As a result of the TDSAT order, over 65 pay channels like Star One, Colors and Star Cricket would be able to raise prices, which were capped by Trai. The TDSAT rejected Trai's tariff order of October 2007 that had capped prices in different categories of cities based on population.
The Bombay high court in an order said bakshish can be considered as business expenditure. Observing that paying over and above the contractual amount to sugarcane harvesting workers was "necessary incidence of business," the division bench of Justices F I Rebello and J P Deodhar upheld a decision of Income Tax Appellate Tribunal.
The Competition Commission on Wednesday imposed a fine of Rs 52.24 crore on the Board of Control for Cricket in India (BCCI) for anti-competitive practices with respect to the Indian Premier League.
The government's financial package to telecom operators has irked the paging industry which has filed a petition in TDSAT, seeking compensation from the government saying that cellular operators were "killing" them by offering SMS facility.
Samir Arora, chief investment officer of Alliance Capital Fund, has filed a petition with the Securities Appellate Tribunal challenging Sebi's order barring him from dealing in capital market
The Supreme Court asked on Thursday market regulator Securities and Exchange Board of India and some stock brokers to file written submissions in a case relating to modification of penalty imposed on intermediaries.
The Supreme Court admitted an appeal by BSNL challenging a TDSAT decision expressing inability to penalise Bharti Telesonics Ltd for allegedly violating conditional clearance for providing national long distance telephone service.
Indian Hotels, which owns the chain of Taj hotels and East India Hotels, may gain from a tax court ruling that allows hoteliers to claim depreciation and tax benefits on imported cars which are used to ferry tourists.
"The execution of the death sentence will be a form of judicial assassination," the CPI(M) said, urging all sections of the people to protest the death sentence.
In a rare order, the Securities Appellate Tribunal on Thursday asked the Securities and Exchange Board of India to bear the costs amounting to Rs 100,000 in a case involving Goldman Sachs. A division bench of Justice N K Sodhi, Arun Bhargava and Utpal Bhattacharya imposed the penalty on the capital market regulator and set aside the adjudication order of September 8, 2006.
It said the amendments to the Sebi Act will facilitate utilising the services of officials appointed members of SAT as normally retired people join the body.
The government has served showcause notices to various telecom firms for alleged under-reporting of revenues of over Rs 10,800 crore till November 2012, Lok Sabha was informed on Friday.
Tata Sky gets Zee bouquet, not to charge extra.
'We are talking about boosters these days. Booster vaccines, boosters for the economy. We read somewhere that the current budget is a booster for the nation's economy. But where is booster for the judiciary?' the high court asked.
After remaining closed for more than two months, the Telecom Disputes Settlement and Appellate Tribunal is set to resume functioning with new chairman from next week.
