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India-Australia DTAA: Economic Statecraft through Tax RBI alerts against misuse of banking channels for facilitating illegal forex trading Time Limit to file Appeal in GST Appellate Tribunal EC censures Jagan Reddy & Chandrababu Naidu for MCC violations I-T-Interest income earned by a co-operative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act: ITAT France tells Xi Jinping EU needs protection from China’s cheap imports I-T- Addition cannot be made merely for reason that assessee got property transferred through registered sale without making payment to vendor: ITAT UK military personnel’s data hacked I-T- Addition which is not based on the reasons for reopening is un-sustainable sans notice u/s 148 of the ACT: ITAT Oxygen valve malfunction delays launch of Boeing’s first crewed spacecraft I-T- Re-assessment need not be resorted to, where no income has escaped assessment or where no evidence is put forth to establish escapement of income: ITAT Pulitzer prize goes to Reuters & NYT FM administers Oath to Justice Sanjaya Kumar Mishra as first President of GST Tribunal Dutch, Belgian students join Gaza sit-ins by US Univ students I-T- Penalty imposed u/s 271(1)(c) are not sustainable where additions based on which penalty was imposed, are themselves set aside : ITAT Ghana agrees to activate UPI links in 6 months ECI calls for ethical use of social media platforms by political parties Cus - Technological innovation and advancements would result in obsolescence of raw materials imported duty free - Destruction of such imports allowed after intimation to Customs authority: CESTAT ED seizes about 20 kg gold from locker of a cyber scammer in Haryana Ministry of Tourism participates in Arabian Travel Mart 2024 in Dubai ST - No evidence has been adduced to negate the specific findings of adjudicating authority holding that the service tax on all these expenses, by including same in gross transaction value has been discharged by assessee: CESTAT ICG detains Iranian boat, with six Indians onboard, off Kerala coast CX - As assessee is able to prove that all the items in question have been used in fabrication of structures for installation of capital goods which were ultimately used in manufacture of their final product, CENVAT Credit is allowed to assessee: CESTAT


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Ahmedabad, April 28, 2015 CX - Entire case was made out on basis of pre-drafted statements of buyers and computer printouts - Investigating officers have failed to comply with conditions of S.36B of CEA, 1944 - there is no adequate material available on record to establish clandestine removal of goods-appeals allowed: CESTAT

Chennai, April 27, 2015 Doctrine of unjust enrichment is not applicable to State Govt undertakings - High Court reverses Tribunal decision

Ahmedabad, April 27, 2015 Income tax - Whether when subsidy is not for buying capital assets and same was received after commencement of production it is to be construed as revenue receipt - YES: HC

New Delhi, April 27, 2015 Cus - Appellant cannot pick line here and line there, out of context and impute motive, which reading of whole document does not disclose - Appeal dismissed: High Court

New Delhi, April 26, 2015 India has pre-requisites for building advantage in services but regulations act as a barrier: FM

Kolkata, April 26, 2015 ST - Taxable services relating to transmission of electricity are exempted by s.11C notification 45/2010-ST -Board has clarified that notification would apply to all pending cases - Demand set aside and appeal allowed: CESTAT

New Delhi, April 25, 2015 225 NDRF rescue workers dispatched to assist States hit by Nepal quake

New Delhi, April 25, 2015 Sales tax - Whether when key activity of assessee is not business then any incidental transaction would amount to business only if an independent intention to carry on business is established - YES: Supreme Court

New Delhi, April 25, 2015 CX - Classification - pontoons - Tribunal held that product is not marketable and, therefore, would not attract any excise duty - This issue was not raised in reply to SCN - Tribunal to give speaking order - Matter remanded: Supreme Court

Mumbai, April 24, 2015 I-T - Whether mere lumpsum payment in relation to lease rent and maintenance of a pipeline, is required to be apportioned over entire period of lease, for claiming deduction on the same - NO: HC

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