News Update

CBIC notifies withdrawal of 'Stop OOC' procedure for claim of exemption under FTAsCBIC notifies Customs Exchange ratesIndia-UAE trade pact - Last date for application of TRQ extended till May 31Ethanol production capacities up from 421 cr ltrs to 867 cr ltrsI-T - Addition made by AO in absence of any incriminating material, merely on basis of suo-motu disclosure made before ITSC, is not sustainable: ITATUS Senate passes USD 40 bn air package for UkrainePort Blair Airport to get new terminal building by October, 2022I-T - Assessment order, made on basis of statements recorded from third parties that are neither provided nor cross-examination is given to assessee, is bad in law : ITATMonkeypox cases travel from UK, EU to US & Canada nowOmicron BA.4 - First case detected in HyderabadCentre decides to lift Price Capping of Raw JuteI-T- Ad hoc disallowance of telecom expenses can't be made by merely stating that assessee could not justify business expediency : ITATFresh CBI cases against Lalu Yadav & his daughter; Raids roll outI-T - Delay in filing TDS quarterly statements is per se insufficient grounds to impose penalty, more so where reasonable explanation is given to explain such delay : ITATIndonesia decides to revoke embargo on exports of palm oil from next weekDelhi AIIMS says all tests costing under Rs 300 to be provided free from nowFM chairs Annual Meeting of Board of Governors of New Development BankG7 pledges USD 18 bn aid package for UkraineI-T- Reassessment proceedings are invalid as AO fails to indicate how and why assessee has failed to make full and true disclosure of all material facts necessary for assessment : ITATCanada notifies ban on China’s Huawei Technologies & ZTE Corp from 5G NetworksJaishankar says BRICS needs to honour territorial integrity of membersBiden to visit Samsung’s chip plant in Korea - reprieve for Samsung leader Jay Lee from court trialI-T - Additions u/s 153C invalid where no material incriminating the assessee is found in course of search proceedings : ITATOmicron dancing with tall numbers in N Korea - 2.64 lakhs in 24 hours + Daily cases soar to 8000 in New ZealandNational Geographic team sets up weather station on Mt EverestKey rates of China banks go south to buoy up roiled economyCanadian PM says China playing Western nations against each otherI-T- Addition for bogus purchases should be restricted to gross profit involved in such purchases : ITATPM going to Japan to attend Quad; to have bilateral talks with BidenCX - The power exercised by authority by issuing Demand-cum SCN is a statutory power conferred upon respondent authorities under Section 73 of FA, 1994 and as such issuance of SCN cannot be said to be without jurisdiction: HCInflation - Not 'wet-bulb conditions' thus far!Cus - As importer of goods will sell the goods after import, importer cannot file application to decide that such goods are being purchased as waste & scrap: HCDebroy releases State of Inequality in India ReportCX - Only arrears of land related revenue were to be borne by Purchaser and therefore outstanding amount of the previous owner cannot be realised from assessee: CESTATCustoms Duty on the mysterious washed ashore chariotCus - The review order passed by department is beyond the time-limit prescribed under section 129D (3) of Customs Act, 1962 and therefore appeals filed before Commissioner (A) are time-barred: CESTATCERT-In releases FAQs to address queries on Cyber Security DirectionsST - Since the amount deposited by appellant during audit is lying with Department as revenue deposit and for such amount there is no question of any limitation as provided under Section 11B, appellant is entitled to refund of said amount: CESTAT400 GIS-based maps ready under PM GatiShakti: GoyalCus - Procedure for export starts with filing of checklists on ICEGATE portal, if same is not backed by proper shipping bill within 15 days, checklist gets purged - It is not understood how the issuance of checklist by Customs Broker was a fraud under Customs Act: CESTAT
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The Last DDT
TIOL DDT 3002, December 30, 2016
SCNs Issued by DRI - To Remain in Call Book
TIOL DDT 3001,
December 29, 2016
DDT is 3000
TIOL DDT 3000,
December 28, 2016
Credit Card - Service Tax on interest portion? - Payable - Board confirms
TIOL DDT 2999,
December 27, 2016
Detention by Customs/DRI - No fault of importer - Demurrage and Shipping Line Charges to be paid by Customs/DRI - Cost Imposed
TIOL DDT 2998,
December 26, 2016
Payment of Tax can be made with Old Currency
TIOL DDT 2997,
December 23, 2016
Anti Dumping Duty on Soda Ash - Notifications Rescinded, but ADD to Continue till High Court Decides the Matter - Government @ speed of Light
TIOL DDT 2996,
December 22, 2016
Current Financial Year 2016-17 is not Conventional Year - FM
TIOL DDT 2995,
December 21, 2016
Service Tax - Online Invoice without Digital Signature
TIOL DDT 2994,
December 20, 2016
Black Money Tax
TIOL DDT 2993, December 19, 2016
RBI Restrictions on Withdrawal from Banks
TIOL DDT 2992, December 16, 2016
Income Tax - Due Date for Payment of Advance Tax Should be Extended in TN
TIOL DDT 2991, December 15, 2016
Less Cash - Less Corruption, Less Tax Evasion
TIOL DDT 2990, December 14, 2016
GST Bills Have to Wait for Next Session of Parliament
TIOL DDT 2989, December 13, 2016
Card Transaction - Service Tax Exemption
TIOL DDT 2988, December 09, 2016
Deposits in Jan Dhan Accounts Not Alarming - Income Tax Department
TIOL DDT 2987, December 08, 2016
Taxpayers and professionals have not been able to keep up pace with IT changes of I-T Department
TIOL DDT 2986, December 07, 2016
Payment by Government Departments through e-payment
TIOL DDT 2985, December 06, 2016
Elusive Power Sharing Agreement - No GST on 1st April 2017?
TIOL DDT 2984,
December 05, 2016
No limit on holding of gold jewellery or ornaments provided it is acquired from explained sources of income including inheritance
TIOL DDT 2983,
December 02, 2016
12 Years of DDT
TIOL DDT 2982, December 01, 2016