News Update

Retrospective Chaos: Can We Just Move Forward?OpenEuroLLM Project backed European Commission launched to develop open-source AICX - Appellant is entitled to avail Cenvat Credit based on Certificates/statements issued by M/s. Indian Bank and based on photocopies of invoices: CESTATTrump proposes to take over & develop Gaza Strip & resettlement for PalestiniansCus - Original engineering drawings for industrial use are classifiable under CTH 49.06; cannot be treated as machinery or equipment: CESTATBengal to pass bill to impose fine for spitting tobacco in publicCX - Specifications provided before finalization of contract & not forming part of detailed engineering design cannot be treated as additional consideration: CESTAT11 killed in mass shooting at Swedish school; Gunman also killedCX - As per trite law, there is no requirement to reverse Cenvat credit if no duty is due on final product, particularly when credit is ultimately offset by higher duty payments: CESTATMounting trade tensions: In no hurry to speak to Xi Jinping, says TrumpST - Since the VAT has been paid by appellant on supply of Diesel Generator Sets and therefore, service tax is not liable to be paid under Supply of Tangible Goods service: CESTATSpiritual leader Aga Khan, 88, dies in LisbonCX - Charges not related to manufacturing and shown separately are exempt from inclusion in assessable value: CESTATUS Postal Service stops picking parcels from China; Temu & Shein retailers in panicCX - Denial of cross-examination of key witnesses violated the legal rights of appellant, matter remanded back to adjudicating authority for reconsideration : CESTATAustralia bans DeepSeek AI tool on govt devicesCX - Appellants's case remanded holding that unutilized DTA clearance limits could be carried forward, but directed verification of records before finalizing excise duty liability : CESTATSpain decides to reduce working week to 37.5 hoursI-T - Where property is held jointly but only one co-owner reaps benefit of income from such property, then other co-owner cannot be held liable to pay tax merely by virtue of co-ownership: HCSpain decides to reduce working week to 37.5 hoursI-T- Assessment order invalidated where passed by officer who is different from officer who gave assessee a personal hearing: HCBudget adds 2 types of shuttle-less looms to list of fully exempted textile machineryRobbery bid at Saibaba temple in Maharashtra - 2 employees of Trust stabbedI-T - Cash in bank account is 'property' liable for provisional attachment u/s 281B: HCIndia rises to become World's 2nd largest mobile manufacturer: VaishnawI-T - No addition can be made purely on account of assumptions, disregarding audited books of accounts: ITATGovt announces selected applicants under Category-II of Financial Incentive SchemeI-T - If assessee has brought on record voluminous details of incurring expenditure, then assessee could not be held responsible for vendors not appearing in person before AO: ITATTRAI releases recommendations on Frequency Spectrum for IMTI-T - Sec 68 can't be invoked to assail capital gain transaction unless some new material of incriminating nature has been discovered in course of search: ITATRegistration closing for TruthTell Hackathon before 21st FebI-T - Assessee's appeal be allowed in cases where there is no intentional or deliberate attempt on his part in filing the appeal belatedly: ITAT
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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