News Update

Former IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal
 
Page 134
Mumbai, January 08, 2018
ST - Management or Business consultant does not cover land development charge within its fold to give rise to a taxable event for purpose of levy under FA, 1994: CESTAT
 
Mumbai, January 08, 2018
CX - Merely because boiler is cleared in CKD/SKD form, if exemption is denied then notification will become redundant as there will be no case where boiler is cleared in fully assembled form: CESTAT
 
New Delhi, January 07, 2018
RTI Act - Every action of PIOs in denying impractical & indiscriminate information to RTI applicant does not warrant penalty: CIC
 
Mumbai, January 06, 2018
ST - Brand promotion fee was not taxable prior to 01.07.2010, hence there cannot be any tax liability on respondent: CESTAT
 
Mumbai, January 05, 2018
Income tax - Delay in Refund - If returns cannot be processed for lack of software or some technical glitches, nothing stops I-T Department from doing it manually: HC
 
Mumbai, January 05, 2018
I-T - Stay can be granted for recovery of penalty levied u/s 271(1)(c), if same is levied as a result of enhancement of income by CIT(A): ITAT
 
Mumbai, January 05, 2018
ST - Spurious SCNs should not be issued to prevent waste of public time and resources: CESTAT
 
Mumbai, January 04, 2018
I-T - Non-compete fee - Legislature knowingly restricted applicability of Sec 28(va) to sums received in relation to any 'business' and not a 'profession': ITAT
 
Mumbai, January 04, 2018
I-T - In absence of enduring benefit, franchise fee paid to BCCI for IPL facilitating participation in league, is to be considered as revenue expenditure: ITAT
 
Chennai, January 04, 2018
I-T - When CBDT itself has not accepted audit objection, verbatim reproduction of same does not constitute valid ground for AO to resort to re-assessment: HC
 
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