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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Ernakulam, September 18, 2017
I-T - For availing benefits u/s 80IA(4) it is not necessary that airport should already be operational and agreement with AAI should be entered into thereafter: HC
 
Allahabad, September 18, 2017
I-T - 'Date of filing application' has no relevance for determining 'date of operation' of Registration u/s 12AA: HC
 
Mumbai, September 18, 2017
Assessee procures orders from Indian Cos & pass them to foreign manufacturers with whom they have agreement for receiving commission on orders - act is Export of service & does not invite ST liability: HC
 
Mumbai, September 18, 2017
Cus –Tribunal has neither revisionary nor review power - It has no jurisdiction to review own order or order by coordinate bench long ago: CESTAT
 
Ahmedabad, September 15, 2017
I-T - Mere allotment of PAN would not make PAN-holder necessarily separate entity for purpose of assessment to tax: HC
 
Ahmedabad, September 15, 2017
I-T - When assessee has filed settlement applications for several AYs but only partly paid additional tax with interest, only those proceedings before Commission would abate for which no payment of tax was made: HC
 
Ahmedabad, September 15, 2017
I-T - Acceptance of return without scrutiny, will not debar AO from reopening same, if there is live link with formation of belief that income had escaped assessment: HC
 
Mumbai, September 15, 2017
CX - Issuing fake or forged gate passes - Respondent not having physically dealt with excisable goods penalty u/r 209A cannot be invoked: HC
 
Mumbai, September 15, 2017
Cus - It is well settled that where one party leads evidence of witness, opposing side has right to cross examine that witness: HC
 
Mumbai, September 14, 2017
ST - 'Merger and Acquisition' is highly technical and a restrictive term and cannot be covered within definition of 'Management Consultant': HC
 
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