News Update

Govt orders mandatory declaration of stock position of wheatCPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCGovt issues advisory against calls impersonating DoTFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Bangalore, March 08, 2018
I-T - Sharing of cost between husband & wife is no basis to allow exemption benefit u/s 54 to both of them upon transfer of jointly owned property, if sale deed recognizes only one of them as legal owner: ITAT
 
New Delhi, March 08, 2018
I-T - Reopening on account of seizure of unaccounted cash is valid if AO applies his mind & analyses information and bank statements: ITAT
 
New Delhi, March 08, 2018
I-T - When issue of PE itself is in dispute and Tribunal decision favoured assessee in past cases there is no justification for Revenue to ask for deposit of 20% of Rs 75 Cr demand before case is heard: HC
 
Mumbai, March 08, 2018
I-T - Change in future management of trust is no basis to take away its registration u/s 12A: HC
 
Mumbai, March 08, 2018
Cus - Principles of natural justice would also include a right to cross-examination: High Court
 
Hyderabad, March 07, 2018
I-T - assessment cannot be reopened merely because taxable income eluded assessment due to oversight or mistake by AO: High Court
 
New Delhi, March 07, 2018
RTI Act - DGIT (Investigation) is an intelligence agency; information sourced from it is exempt from disclosure under RTI Act: HC
 
Chennai, March 07, 2018
I-T - Armour of natural justice will not rescue Assessee, if he himself is disobedient in responding to reopening notices & summons issued by Department: HC
 
Ahmedabad, March 07, 2018
CX - Corrigendum is not a piece of legislation, cannot be applied retrospectively: High Court
 
Mumbai, March 07, 2018
CX - Rule 21 of CER, 2002 - Insurance payment is no proof of accidental occurrence which is a necessary statutory pre-requisite for grant of remission: CESTAT
 
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