News Update

For rains-ravaged Kerala 'relief' calls pour in; Customs explains proceduresMultiple personality Order - Implications and way forward!Customs Brokers and their woesST - Respondent cannot take shelter under a faulty software programme when they themselves handled system - Penalty u/s 78 of FA, 1994 wrongly set aside by CESTAT: High CourtBudget Allocation of Rs 2875 Cr - CBIC not happy with trend of spending less!I-T - Once trademark acquired is used for selling products, its eligibility for depreciation cannot be questioned, simply because trademark is not put to use for manufacturing activities: HCRecasting base year for GDP - Govt mulling over various alternativesFlood-battered Kerala - Cabinet Secretary-headed NCMC calls for shifting focus on supplies of food, water, medicines, power, fuel and telecom servicesIndia successfully test-fires 'Helina', copter-based anti-tank guided missile + also test-fires guided bombs smart anti-airfield weapon systemGovt yet to firm up mind for back-casting of GDP series; Various alternatives under considerationMulti-modal transport - TIR Convention comes into forceJalandhar CGST Commissionerate is first to become e-OfficeAadhaar Regulator to launch phased introduction of face recognition features from Sept 15Walmart wraps up Flipkart acquisition formalities; Current management to run operationsFormer UN Chief Kofi Annan passes away at 80DRI, Police & para-military forces seize 78 drums of ganja, heroin & tabletsKerala CM says worst flood in 100 years; PM announces Rs 500 Cr immediate reliefWorld Humanitarian Day - UN urges global leaders to protect people caught in conflictST - Tribunal has relied upon speech of Finance Minister for holding that assessee was not liable to pay tax without discussing relevant provisions of law/notifications - Matter remanded: HCAdvance Ruling - a nightmare for taxpayers?I-T - Exemption u/s 10(23C)(iv) can be claimed only to the extent of actual income and not for accumulated income: ITATSection 197 Certificate - CBDT proposes to amend Rules to make it electronicImport of Pet Coke allowed for only cement, lime kiln, calcium carbide and gasification Industries, when used as feed stock/manufacturing process on Actual User ConditionCBDT puts in abeyance controversial clauses relating to GAAR & GSTEvery 1% growth in mining industry soars up industrial production index by 1.5%, says FICCIRailways launches 'Digital Screens' at 22 Stations
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