News Update

Income 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)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-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 dronesFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Chennai, March 07, 2018
Cus - Court cannot shut its eyes to delay in adjudication of SCN and delay in disposing Appeal Petition - inordinate delay is unreasonable-order set aside: HC
 
New Delhi, March 06, 2018
VAT - Exigibility to tax does not depend on State to prescribe uniform rate of tax for goods used in executing works contracts: SC
 
New Delhi, March 06, 2018
I-T - Self-disclosure of additional income during Survey will not absolve assessee of penal provisions if sources are not explained: HC
 
Jaipur, March 06, 2018
CX - Judicial discipline is required to be maintained - Tribunal cannot distinguish High Court judgments: HC
 
New Delhi, March 06, 2018
I-T - Financial crunch is a valid ground for default in making payment of tax and no penaly is warranted: ITAT
 
Mumbai, March 06, 2018
Cus - Merely because a representation or a remedy of making a representation is provided by Regulations, that does not displace appellate authority of tribunal - Revenue appeal dismissed: HC
 
New Delhi, March 05, 2018
I-T - Inception of construction of new residential property, even before transfer of existing one, will not debar investor from seeking benefit of Sec 54 : ITAT
 
Mumbai, March 05, 2018
CX - Health insurance services for CISF personnel employed by assessee not CENVATable since, in exclusion clause, word used is not 'employee of assessee' but 'any employee': CESTAT
 
New Delhi, March 03, 2018
I-T - Relief for GNOIDA Authority u/s 10(46) - Wider definition of 'economic activity' not to be applied while interpreting expression 'commercial activity': HC
 
New Delhi, March 02, 2018
ST - Dept. of Post is rendering service to appellant, a foreign based entity, by executing remittance of forex to intended recipient in India - no tax liability as services are exported: CESTAT
 
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