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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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Chennai, August 04, 2018 CX - Printing names of customers on sacks along with packing of same amounts to manufacture: CESTAT

Mumbai, August 04, 2018 I-T - When valuation of property by stamp authority is higher than actual sale price, then before calculation of capital gain on such higher value, AO should refer capital asset to DVO for valuation even if not prayed for: ITAT

Kolkata, August 03, 2018 I-T - Since AO plays dual role of investigator as well as adjudicator, failure to examine nature of subsidy makes assessment order prima facie prejudicial to interest of Revenue : ITAT

New Delhi, August 03, 2018 CX - Presuming that since o-in-o despatched by Division Office was received by Range Office/HQ and Review branch within 10-15 days, assessee too should have received same since located in same city is without any basis: CESTAT

Bangalore, August 02, 2018 CX - A manufacturer, who exports final products which are exempt from duty, under bond and LUT, in terms of rule 19 of CER, 2002, can claim refund of CENVAT in terms of rule 5 of CCR, 2004: HC

Mumbai, August 02, 2018 Cus - Court cannot be left to guess as to whether authority concluded that either fraud is proved or that parties like petitioner is guilty of suppression of facts or misrepresentation: HC

Allahabad, August 02, 2018 I-T - As per amended Sec. 145A, computation of valuation of closing stock of finished goods will include any excise duty & cess which was payable or incurred by assessee towards such goods: HC

Chennai, August 02, 2018 ST - When basic allegation is that assessee is NBFC, Commr. has traversed beyond scope of SCN to confirm demand by concluding that appellant is covered under category of 'any other person' : CESTAT

New Delhi, August 01, 2018 I-T - Revenue cannot initiate re-assessment repeatedly on basis of same Tax Evasion Petition which has failed in the past: HC

Mumbai, August 01, 2018 CX - Branded goods manufactured in Goa unit situated in 'rural area' and exemption availed - no cause for clubbing clearance value of Goa unit with that of Mumbai unit where SSI exemption availed: CESTAT

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