News Update

CX - appeal to CESTAT is valuable right, being final fact-finding body; CESTAT erred in upholding cryptic, single-paragraph order passed by Commr.(A), while overlooking crucial facts; case remanded for re-consideration: HCReverse imports: Suzukis, Hondo sell over 93,000 India-made vehicles in Japan in 2024CX - In case of factory gate sale even though sale is on FOR basis the freight charges shown/ collected separately in invoice shall not be included in transaction value of excisable goods:CESTATGovt okays 56 Watershed Projects worth Rs 700 CrST - O-i-A is unsustainable given that Department did not appeal the earlier order dropping substantial demands: CESTATThailand approves draft law to legalise casinos & gamblingST - Service Tax paid on insurance premiums to DICGC is mandatory requirement for assessee to operate & provide taxable banking services; Cenvat credit on tax paid is allowed: CESTATUS to further tighten grips over AI chips global supply chainCus - Customs Broker not expected to be expert in identifying mis-declaration; cannot be made accountable for verifying documents like IEC, which is presumed to be verified by Customs; charges of contravening CBLR not tenable: CESTATSpain mulls 100% tax on property bought by non-EU buyersCus - Seizure & confiscation of gold is invalid where no evidence, such as foreign markings, exist to show it to have been illicitly imported: CESTATBiden’s swansong address to Nation - China would not surpass US; strong economy may not need much reforms from TrumpI-T - Notwithstanding that LTCG are excluded from total income of assessee u/s 10(38), same are required to be taken into account in computing book profit and income tax payable u/s 115JB: HCEU to expand ambit of probe into Musk’s XI-T - Based on information received from another agency on insight portal, there cannot be reopening, unless AO satisfies after considering such information, that income has escaped assessment: HCTrump says ‘going to meet Putin very quickly’Income Tax Refund: Can it be managed better?Some Democrats urge Biden to extend deadline for TikTok banI-T - Liability discharged towards Government relating to Electricity duty payable from allotment of equity, is allowable in terms of Sec 43(d): HCLA wildfires devour Oscar nominations - Fresh date to be announced soonOdisha becomes 34th state to implement Ayushman BharatUS to impose penalty on China for unfairly ruling ship-building sectorI-T - If sales are not doubted and purchases were not under-valued or inflated, no additions are permitted on account of alleged bogus purchases: ITATIndia's RE capacity registers 15.84% Year-on-Year GrowthI-T - If assessee could not give complete addresses of parties to whom payments were made and there are similar PAN numbers for different vendors, then contract expenses deserves reasonable disallowance: ITATMandaviya to attend conference on Future of Jobs tomorrowI-T - If potential disallowances did not impact tax liability due to extensive available deduction, and assessment order is not prejudicial to revenue in any practical sense, then PCIT's revisionary action u/s 263 is futile: ITATKeel-Laying Ceremony of Training Ship for ICG held at MDL, MumbaiI-T- The addition made by AO is genuine when assessee failed to discharge the onus of establishing the identity, genuineness of the transaction and creditworthiness or financial strength of the shareholder: ITAT
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TOP NEWS

Taxindiaonline.com
Odisha becomes 34th state to implement Ayushman Bharat
January 14, 2025
India's RE capacity registers 15.84% Year-on-Year Growth
January 14, 2025
Mandaviya to attend conference on Future of Jobs tomorrow
January 14, 2025
Keel-Laying Ceremony of Training Ship for ICG held at MDL, Mumbai
January 14, 2025
Meeting of India-Nepal Committee to combat unauthorised trade concludes in Kathmandu
January 13, 2025
Scindia inaugurated Guna Head Post Office and Passport Seva Kendra
January 13, 2025
Railways moves SC against HCs' orders describing unauthorised bulk ticket bookings as social crime
January 13, 2025
GRAP revoked in entire NCR with immediate effect
January 13, 2025
Goyal launches Bharat Cleantech Manufacturing Platform
January 13, 2025
MoS announces Regional Meteorological Centre for Jammu
January 13, 2025
India joins UN Committee on Big Data and Data Science for Official Statistics
January 13, 2025
Scientific Conclave on Livestock Vaccine Innovation held in Hyderabad
January 13, 2025
WEF 2025 to take place from January 20-24, 2025 in Davos
January 11, 2025
MoS presides over passing out parade of 74th Batch of IRS
January 11, 2025
NFRA releases first part of Auditor-Audit Committee Report
January 11, 2025
TRAI releases report on Independent Drive Tests
January 11, 2025
Goyal hails organic farming as organic goods exports touch Rs 20000 Crores
January 10, 2025
Centre releases Rs 1,73,030 Crores to States
January 10, 2025
Commerce Ministry revises trade data post reconciliation
January 10, 2025
Finance Secretary Tuhin Kanta Pandey takes charge as RS
January 10, 2025
ISRO's 2025 Space missions include 'uncrewed' mission under 'Gaganyaan'
January 10, 2025
Mahakumbh 2025 to showcase Bundelkhand's transformation
January 10, 2025
SAIL strengthens Mahakumbh Mela with 45,000 Tonnes of Steel
January 10, 2025
Om Birla meets Speaker of House of Commons in London
January 09, 2025
Govt consults experts to conceptualise framework on 'Diversity, Equity, Inclusion and Accessibility'
January 09, 2025
Aadhaar-based UAN activation to be done at time of Creation of UAN: Secy
January 09, 2025
Jammu-Srinagar Vande Bharat to run Soon between Katra & Srinagar
January 09, 2025
Income Tax Toll Free Number to monitor movement of unaccounted cash & bullion
January 09, 2025
IndiaAI, Microsoft join hands for establishment of AI Safety Institute in India
January 09, 2025
AI & blockchain technologies no more an option but only choice: MoS
January 09, 2025
Railways well on course to make itself future-ready
January 09, 2025
NITI Aayog launches 'EmpowHER Biz' to boost Women Entrepreneurship in Retail
January 09, 2025
Aadhar, UPI & AePS have acted as enablers for FinTech sector: Secretary
January 08, 2025
Sonowal announces major projects to boost capacity at Kandla Port
January 08, 2025
Vaishnaw unveils Government Calender for 2025
January 08, 2025
Bhashini-Enabled e-Shram Portal now available in all 22 Scheduled Languages
January 08, 2025
New method of boosting nitrogen use efficiency to help up crop yield
January 08, 2025
Green Mahakumbh to bring together over 1,000 environmental champions
January 08, 2025
CAT Jammu branch sets record by disposing of 15,537 cases
January 08, 2025
HMPV: No surge in India of respiratory illness
January 07, 2025
Pre-Budget consultation for Budget 2025-26 concludes
January 07, 2025
Social Security for Informal Workers: Presentations to be made by World Bank, ILO, UN India & ADB
January 07, 2025
Union Minister to inaugurate 8th Edition of Indusfood 2025
January 07, 2025
FIU-IND and IRDAI sign MoU for information exchange
January 07, 2025
PLI Scheme 1.1 launched by Union Steel Minister
January 07, 2025
World's highest Railway Bridge in India stands taller than Eiffel Tower: Minister
January 07, 2025
Chouhan urges states to boost efforts under National Mission on Edible Oils
January 07, 2025
CSIR's indigenously developed 'Paracetamol' unveiled
January 06, 2025
PM lays bricks for new building for Central Ayurveda Research Institute
January 06, 2025
Draft Digital Personal Data Protection Rules released
January 06, 2025
New campus of Indian Institute of Handloom Technology inaugurated
January 06, 2025
2015 batch IRS officers of CBIC are unhappy lot!
January 06, 2025
Chouhan reviews schemes with Agri Ministers of States
January 06, 2025
Joshi visits India's largest Floating Solar project in Omkareshwar
January 06, 2025
DPIIT partners with Stride Ventures to accelerate Global Expansion of Startups
January 06, 2025
PM inaugurates Grameen Bharat Mahotsav 2025
January 06, 2025
Vande Bharat Sleeper Trains to soon bring world class travel experience
January 04, 2025
CAQM Sub-Committee on GRAP invokes Stage-III in NCR
January 04, 2025
Rs 1570 Cr pension disbursed to 68 lakh EPS Pensioners in Dec
January 04, 2025
DPIIT inks MoU with Startup Policy Forum to buoy up Ecosystem
January 04, 2025
Govt amends FTP, 2023 to encourage inclusive decision-making
January 03, 2025
Revamped 'BAANKNET' portal for e-auction of properties launched
January 03, 2025
India submits Update Report to UN on Climate Change
January 03, 2025
MoSPI Survey: Unincorporated units rise to 7.34 Cr
January 03, 2025
Govt augments telecom services for Digital Maha Kumbh Mela 2025 at Prayagraj
January 03, 2025
DRDO's 67th Foundation Day: RM praises scientists' tech efforts
January 03, 2025
Govt sets up Working Group for revision of WPI Base; CEO, GSTN, included
January 02, 2025
16.15 lakh EVs incentivised under Fame-II Scheme
January 02, 2025
India's share of global trade in textiles and apparel stands at 3.9%
January 02, 2025
DARPG issues guidelines for 28th National e-Governance Awards Scheme 2025
January 02, 2025
Lokpal Day to be celebrated on 16th January, 2025
January 02, 2025
India's bio-economy projected to reach USD 300 bn by 2030
January 02, 2025
EIC ramps up testing facilities to 78 accredited labs
January 02, 2025
Ministry of Civil Aviation gears up to ensure preparedness for fog
January 02, 2025
Ministry of Coal records significant growth in Coal Production in December
January 02, 2025
Cabinet approves addition in PMFBY & RWBCIS
January 01, 2025
Cabinet okays extension of One-time Special Package on DAP
January 01, 2025
Govt reviews Social Security Scheme for Gig and Platform Workers
January 01, 2025
Spurious Drugs: Major seizure in Kolkata
January 01, 2025
India to lead in 'Space-Biology', says Dr. Jitendra Singh
January 01, 2025
Justice V Ramasubramanian joins as new Chairperson of NHRC
January 01, 2025
8.15 lakh houses will be built in TN under PMAY: Chouhan
January 01, 2025


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