News Update

UPI as cornerstone of India's digital payment ecosystem contributes to 80% of retail payments across countryGST - SCN placed under tab 'Additional Notices & Orders' without any specific note or instructions - Complex architecture of portal now set right - Order set aside and matter remanded: HCAadhaar Authentication amendment to improve transparency and inclusivity in decision-making processCus - Seizing Officer has not complied with the mandate of 110(1) - No 'reason to believe' mentioned in seizure memo, hence quashed: HCIndia and EU to collaborate over AI innovation and sustainable developmentCus - Modification of conditions imposed in LoP - Petitioner wishes to approach Board of Approvals seeking amendment - Permission sought to withdraw Petition allowed: HCST - SVLDRS, 2019 - 'Bogus' SCN purportedly issued and on basis of which application filed - Designated Committee is correct in rejecting application as being filed on basis of ingenuine documents: HCCT - Amnesty Scheme 2022 - Settlement Officer travelled beyond the contours of the Scheme - Respondent to refund Rs.45.60 lakhs with interest: HCI-T - Proceedings initiated u/s 153C merits to be quashed, if no incriminating material was found during search pertaining to AYs in which additions were made: HCRevenue Secretary Tuhin Pandey appointed as New SEBI ChiefI-T - If no permission is accorded to change of travel destination, then employee is liable to pay advances along with interest on leave travel concession, if he has changed destination midway: HCIndia's Gaming Revolution goes GlobalI-T - ITAT can't overstep its authority by deciding on merits, when it has already concluded appeal was not maintainable: HCSonowal unveils 'One Nation-One Port' to enhance efficiencyI-T- Penalty order invalid where passed before assessee is given a fair opportunity to present its arguments: HCMinistry of Coal to organize Roadshow in MumbaiI-T - Re-assessment made by AO on basis of 'change of opinion', amounts to review of his order, which is not permitted under law: ITATCSC Olympiad transforms rural educationI-T - Interest free funds available to assessee are sufficient to meet its investment, it can be presumed that investments are made from interest free funds and not from borrowed funds: ITATGoyal inaugurates 'Bharat Calling Conference 2025'I-T - Depreciation on goodwill created as result of amalgamation, is allowable, if incurred before March 31, 2021: ITATQuake of 6.1 magnitude strikes Nepal in wee hours of FridayI-T - Reopening is not permitted if AO no fresh material available on record to state that there is failure on part of assessee to disclose fully & truly all material facts necessary for framing original assessment: ITATPAC to examine CAG report indicting Kejriwal Govt: Delhi Assembly SpeakerST - When the extended period is held to be not invocable, demand for normal period cannot be sustained: CESTATUS, UK working on ‘great’ trade deal, says TrumpCX - The company met all conditions of exemption notfn 10/97-CE , including requirement that goods be supplied to research institutions and certified as essential for research purposes, department's denial found to be arbitrary and unsupported by evidence: CESTATMicrosoft urges Trump to reconsider AI chip exportsCX - No interest is payable when there is no actual tax liability & where excess credit is not utilized for duty payment: CESTATTrump says China may face additional bout of 10% tariff over fentanyl next weekCX - Extended limitation need not be invoked where excess Cenvat credit is inadvertently availed, with no intention of wilful suppression or fraudulent intention therefor: CESTATChile braces for mega quake predicted by seismologistsCX - The sales tax retained under Haryana Government's tax deferment scheme could not be included in assessable value for central excise duty: CESTATKing Charles invites Trump on State VisitST - In absence of any particular format prescribed under respective notifications, department insisting for declaration on each consignment note for allowing abatement under said Notifications is unsustainable in law: CESTAT
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Former Prime Minister, Dr Manmohan Singh, delivering his Award Acceptance Speech after receiving TIOL Fiscal Heritage Award 2022 on Nov 8 at Taj Palace, New Delhi



Technical Session I - Ease of Doing Business: GST on Digital Economy