SIGN IN SUBSCRIBE

News Update

Sale of building constructed on leasehold land - GST implicationI-T - If assessee is not charging VAT paid on purchase of goods & services to its P&L account i.e., not claiming it as expenditure, there is no requirement to treat refund of such VAT as income: ITATBengal Governor restricts entry of State FM and local police into Raj BhawanI-T - Interest received u/s 28 of Land Acquisition Act 1894 awarded by Court is capital receipt being integral part of enhanced compensation and is exempt u/s 10(37): ITATCops flatten camps of protesting students at Columbia UnivI-T - No additions are permitted on account of bogus purchases, if evidence submitted on purchase going into export and further details provided of sellers remaining uncontroverted: ITATTurkey stops all trades with Israel over GazaI-T- Provisions of Section 56(2)(vii)(a) cannot be invoked, where a necessary condition of the money received without consideration by assessee, has not been fulfilled: ITATGirl students advised by Pak college to keep away from political eventsI-T- As per settled position in law, cooperative housing society can claim deduction u/s 80P, if interest is earned on deposit of own funds in nationalised banks: ITATApple reports lower revenue despite good start of the yearI-T- Since difference in valuation is minor, considering specific exclusion provision benefit is granted to assessee : ITATHome-grown tech of thermal camera transferred to IndustryI-T - Presumption u/s 292C would apply only to person proceeded u/s 153A and not for assessee u/s 153C: ITATECI asks parties to cease registering voters for beneficiary-oriented schemes under guise of surveysST - Since Department itself admits that service carried out by appellant is that of 'Mining Services' w.e.f. 01.06.2007, thus demand for earlier period has been made only to fasten excess Service Tax demand on appellant which cannot sustain: CESTATICG rescues fisherman with head injury onboard IFB St. Francis off the Gujarat coastCX - When physical stock verification carried out by Officers was not fool proof and there were anomalies, benefit of doubt should be extended to assessee, duty demand confirmed on alleged clandestine removal is not sustainable: CESTAT
 
Year 2015 witnessed DRI launching successful cross-border operations with dozens of Customs administrations

By TIOL News Service

NEW DELHI, DEC 20, 2015: THE year 2015 is coming to an end and it was an important calendar year from the perspective of enforcement of the provisions of Customs Act and Central Excise Act. The Directorate of Revenue Intelligence (DRI), for the first time, launched an International Operation - "Operation Sesha" in the Asia-Pacific Region (named after Seshachalam Hills in Andhra Pradesh where Red Sanders grows) to combat smuggling of all species of timber including Red Sanders. 18 Customs administrations participated in the Operation. The operation which commenced in October 2014 and ended on 30 th May 2015 was highly successful. 400 MT was seized in 8 countries. Apart from this a total of 379.733 MT of Red Sanders was seized in India.

DRI, on behalf of Indian Customs, participated and coordinated several cross border operations covering strategic goods (Cosmo), illegal trafficking in methamphetamine by air passengers (Westerlies 3) , counterfeit medicines (Operation PANGEA-VII), which were spearheaded by WCO or INTERPOL. Project Global Shield (PGS), an International effort to counter the illicit diversion and trafficking of precursor chemical, is a regular programme of WCO.

During FY 2014-15, the DRI, for the second time hosted the Regional Customs Enforcement Meeting , which was attended by Customs Enforcement Heads of Bangladesh, Bhutan, Myanmar, Nepal and Sri Lanka. The DRI has been awarded for the second year running the United Nations Environment Programme (UNEP)' Asia Environmental Enforcement Award (AEEA), in recognition of its excellent work in combating environmental crime.This is a prestigious award and reflects the outstanding work done by DRI in preventing the illegal trade in Ozone Depleting Substance (ODS) and smuggling of Red Sanders, a CITES, Appendix II item.

The Directorate General of Central Excise Intelligence, DGCEI and the Commissionerates have booked 4945 cases involving a duty amount of Rs 1545.11 crore during April to October 2015. An additional amount of Rs. 226.38 has been mobilised on account of anti evasion activity of the Department during this period.


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



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

TII LATEST

TIOLCORPLAWS LATEST