News Update

Apple China tosses out WhatsApp & Threads from App store after being orderedChina announces launch of new military cyber corpsRailways operates record number of additional Trains in Summer Season 2024GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC1st phase polling - Close to 60% voter turnout recordedGST - Tax liability was imposed because petitioner replied without annexing documents - It is just and appropriate that an opportunity be provided to contest tax demand on merits, albeit by putting petitioner on terms: HCMinistry of Law to organise Conference on Criminal Justice System tomorrowGST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HCGovt appoints New Directors for 6 IITsGST - Petitioner has failed to avail opportunities granted repeatedly - Court cannot entertain request for remand as there has been no procedural impropriety and infraction of any provision by assessing authority: HCNexus between Election Manifesto and Budget 2024 in July!GST - Classification - Matter which had stood examined by Principal Commissioner is being treated differently by Additional Commissioner - Prima facie , approach appears to be perverse: HCI-T- Denial of deduction u/s 80IC can create perception of genuine hardship, where claimant paid tax in excess of what was due; order denying deduction merits re-consideration: HCIsrael launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 pollsGermany disfavours Brazil’s proposal to tax super-richI-T- If material found during search are not incriminating in nature AO can not made any addition u/s 153A in respect of unabated assessment: ITATGovt appoints Dinesh Tripathi as New Navy ChiefAFMS, IIT Kanpur to develop tech to address health problems of soldiersFBI sirens against Chinese hackers eyeing US infrastructureKenya’s top military commanders perish in copter crashCBIC notifies Customs exchange rates w.e.f. April 19, 2024Meta shares ‘Most Intelligent’ AI assistant built on Llama modelDengue cases soaring in US - Close to ‘Emergency situation’: UN Agency
 
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New Delhi, December 18, 2017
I-T - AO not permitted to accept revised computation to extent it is specifically beneficial to Revenue, by disallowing deduction u/s 10A, if Assessee's eligiblity is not disputed: ITAT
 
Mumbai, December 18, 2017
CX - Predominance principle - Glass fibre vessel is correctly classifiable under CSH 70.14 and not under CSH84.21: CESTAT
 
Hyderabad, December 16, 2017
Income tax - Figures mentioned in loose sheet cannot be automatically treated as incriminating material, for initiating reopening: ITAT
 
Mumbai, December 16, 2017
CX - Revenue failing to cause enquiry to ascertain truth from IT Dept. regarding seizure of document shall not debar appellant from respective claim of CENVAT credit: CESTAT
 
Chennai, December 15, 2017
GST - Nebulous state of affairs - Court fully justified in initiating action for contempt, however, considering sensitivity of matter, is inclined to give one more opportunity to respondent to consider representations and pass orders: HC
 
New Delhi, December 15, 2017
Income tax - Culmination of penalty proceedings cannot be faulted, for lack of absence of cross-examination: HC
 
Ahmedabad, December 15, 2017
Cost recovery charges - When application for exemption is being processed, contention that such exemption even if later on granted, would only be prospective, would be incongruent: HC
 
Mumbai, December 15, 2017
CX –Applicability of rate of duty, merely because it has reference to sale price, does not mandate condition of sale: CESTAT
 
New Delhi, December 14, 2017
Entertainment Tax - When a subsidy scheme was designed to promote capital intensive projects in State, such subsidy is necessarily capital in nature: SC
 
Mumbai, December 14, 2017
Rules 23 to 62 of Bombay Denatured Spirit Rules, 1959 are ultra vires and unconstitutional, hence struck down: High Court
 
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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.




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