News Update

Mutualty and Mmr Concept for AOP/BOIDelhi IIT opens Abu Dhabi campus with first batch of 52 studentsCabinet nod for procurement of 240 aero-engines for IAF's Su-30 MKI aircraft from HAL worth Rs 26K croreI-T- Capital gains from sale of shares, reported in ITR filed after block period, should be included in block period's undisclosed income : HCKolkata rape case: RSS favours swift justice for womenNHAI to track around 100 toll plazas with GIS-based softwareI-T- E-assessment order is invalidated where passed after allowing only 4 days' time to file reply to SCN, instead of the 7 days' time mandated in Section 144B: HC4 pax gunned down on Chicago train; Suspect nabbedAPEDA's initiative to promote export of non-basmati rice varietiesI-T- Order passed u/s 119(2)(b) merits being quashed, where delay in filing audit reports is not substantial & where audit reports are filed before due date of filing ITR : HCHouthis continue to shell oil tankers in Red SeaNIFT organizing CHHAAP-NIFT@Dilli HaatI-T - Credit of TDS should be allowed for same year in which income has been claimed to have accrued/arising and included for determination of taxable income: ITATVolkswagen mulling over closure of China factoryI-T - Definition of 'export turnover' in section 10A excludes from its ambit any expenses incurred in foreign exchange in providing technical services outside India for year under consideration: ITATHarris to buy Biden’s stand on sale of US Steels to Japanese companyI-T - Amount actually received by assessee from builder as per tripartite agreement shall only be taxable as capital gains: ITATBrazilian SC’s larger bench upholds decision to suspend X nationwideVAT - Appellant unable to make entire pre-deposit due to financial hardship; appellant's contention of principles of natural justice not being followed, was overlooked - pre-deposit amount reduced to Rs 10 Lakhs: HCPutin lands in Mongolia, signatory to ICC pactCX - A manufacturer who exports the final products which are exempt from duty, can claim refund of CENVAT: CESTATUS seizes aircraft used by Venezuelan President on sanctions groundCus - Since appellant has been filing Bills of Entry on behalf of a series of mis-declared imports, they need to be suitably penalized so as to act as a deterrent for any future misdemeanor: CESTATTurkey keen to join BRICS in effort to look beyond WestST - When appellant has already paid service tax along with interest before issuance of SCN, the issuance of SCN itself is bad in law and consequently, penalty imposed is not sustainable : CESTAT
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TIOL Tube brings you an interview with former US Secretary of Treasury, Mr. Larry Summers who was recently in Delhi.



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.