News Update

Tax rate reduced w.e.f January 2019 - Respondent reducing cinema ticket prices from 11.03.2019 and later increasing same from May 2019 which increase cannot be correlated to s.171 - Profiteering only during the period up to 10.03.2019: NAASales figures of BOGO Offer rolled out on World Sandwich Day excluded while arriving at the profiteered amount - in similar cases, DGAP had included the same, therefore, the present computation is an aberration and unacceptable - reinvestigation ordered: NAACus - Alleged non-submission of Bank Realization Certificate after receipt of remittance on successful completion of an export cannot be construed to be a government due: HCCus - When Respondents had already issued licence and granted partial benefit under Target Plus Scheme, there cannot be any valid and justifiable reason for non-release of balance amount of benefit which has now become due: HCIBC - In order to avoid any confusion and divergence of opinions expressed by different HC it is better that interpretation of provisions of IBC is taken up by SC: SC (See 'http://tiolcorplaws.com/')Cus - Article 226 is not meant to short-circuit or circumvent statutory procedures - no acceptable explanation for not having resorted to alternative remedy provided in statute - Petition dismissed: HCGST - Whole objective of digitization is to convenience taxpayers and not to harass them - merely because there were no technical glitches on GSTN side, transitioning of credit could not have been rejected by IT-GRC: HCMethodology adopted is not in line with that adopted by the DGAP himself in similar cases of profiteering wherein average pre-rate reduction base prices have been compared with actual post rate reduction prices to compute profiteered amount - re-investigation ordered: NAASteps being taken to moderate prices of pulses, onions & potato: GoyalCOVID-19 - Belgium goes for 6-week lockdown of non-essential activitiesMassive undersea quake of 7-magnitude kills many in Turkey & GreeceKVIC launches Muslin fabric masks for DiwaliSCN u/s 143(2) issued at the old address of taxpayer is void ab initio, if it was issued at the old address even though the AO was made aware of the new address: ITATIncome tax raids contractors in Bihar; seizes cash & FDsWhere expenses are incurred in respect of a capital asset, such expenses do not mechanically become capital in nature: ITATAtmanirbhar Bharat is about relying on private sector: CEACX - As the order was passed by the authorities below before issuance of s.11C notification, matter is remanded to determine applicability of the exemption notification: CESTATCus - 228-day delay in filing appeal is condoned where assessee's employee who was handling the matter, indulged in theft & left the assessee's employment without informing anybody, leading to disruption of normal functioning of the office - Cost of Rs 1 lakh imposed on assessee: CESTATFinance Commission concludes deliberationsGovt working on production-linked sops for more sectorsOfficers who are invested with powers u/s 53 of the NDPS Act are 'police officers' within the meaning of s.25 of the Evidence Act: SC by MajorityCus - 200% Customs duty on imports from Pakistan not applicable as goods entered territory of India prior to the issuance/uploading of the notification 5/2019-Cus dt. 16.02.2019 at 8.45 pm: HCIDS - Input Services & capital goods - Awaiting their fateCus - Kerala gold smuggling case - Power of Customs Department to question applicant u/s 108 cannot be curtailed by granting anticipatory bail: HCStatement recorded u/s 67 cannot be used as a confessional statement in the trial of an offence under the NDPS Act: SC by MajorityCOVID-19 - Second wave is back with vengeance - Over 5 lakh daily global caseload is backFinance Commission to submit its report to President of India on Nov 9ITR filing - CBDT extends due date including that of Audit reportCOVID Effect - Devolution of taxes - States get Rs 51K Crore less so farPakistan wittingly admits a hand in Pulwama terror attackCX - Once the proportionate reversal of CENVAT credit takes place, it tantamounts to non-availing of credit: CESTATCus - Ignorance of law and cooperation in investigation are mitigating factors & per se cannot take away the guilt of attempting to bring goods into India without payment of duty: CESTAT'Filthy Air' Saga - Is it not a case of Pot calling Kettle black!GST - DGGI nabs man accused of Rs 392 Cr ITC fraud
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