News Update

I-T - All dues including statutory dues owed to Central Government, if not part of Resolution Plan, shall stand extinguished: SCKarnataka assembly passes bill to double salaries of Ministers & MLAs amid worsening financial woesI-T- Delay in filing application for renewal of Section 80G merits condonation for representation before CIT(E), if such delay was caused due to error in filing Form 10A by consultant who was not well aware of procedure: ITATUS has deported 388 Indians since Jan: GovtI-T - Genuineness of transaction cannot be questioned when source is properly explained: ITATEU not to hurry to impose tariffs on American whiskeyI-T - CSR donations are allowed for deduction under section 80G : ITATColumbia Univ caves in to Trump’s demands with seminal changesMoS releases 'India Bioeconomy Report 2025'Trump nullifies legal status of over 5 lakh Latin AmericansI-T - Income from manufacturing activities shall be treated as eligible income for purpose of accumulation u/s 11(1), if artificial limbs for disabled persons were manufactured from property held in trust: ITATGerman Parliament passes bill to jack up military spendingC-DOT partners with Delhi IIT for AI-powered chatbot for disaster warningsPower outage leads to snafu at Heathrow airportCus - Valuation Rules provide that transaction value can be rejected if there are reasonable doubts about its truth or accuracy; as no identical goods were available, Rule 5 was correctly applied to determine value based on similar goods - Re-assessment of value upheld: CESTATIstanbul residents stage protests after Mayor’s arrest3.5 lakh houses approved under PMAY SchemeHamas military intelligence head tossed out, claims IsraelCus - Just because an auction is open to global bidders does not change the fact that sales occurred in Ireland's domestic market, since the customs valuation relied solely on these auction prices, entire revaluation process is invalid : CESTATControversial Delhi HC Judge Justice Varma transferred back to Allahabad HCUnion Minister chairs meeting of House Panel on powerCX - Since the duty and interest had already been paid before issuance of show cause notice, no penalty is warranted : CESTATGovt enhances GeM Platform to boost inclusivity for women-led enterprisesST - As is trite law, reimbursable expenses incurred by service provider while providing service, are not to be included in taxable value; extended limitation not to be invoked where issue involves legal interpretation & not based on fraud or wilful mis-statement: CESTAT
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