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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New Delhi, February 10, 2017
CX - Dept. has adopted short cut method of demanding duty on entire 63,346 gutka bags found in transporters godown when fact remains that assessee is responsible to pay duty on its trade marked stock only and not on others brands: CESTAT
 
New Delhi, February 10, 2017
Cus - AA cannot add addl conditions in provisions when there is no condition prescribed at all in law – Demands in excess of Rs 4 Cr set aside: CESTAT
 
Ahmedabad, February 10, 2017
I-T - Whether manufacturer can be denied additional depreciation on machineries acquired by it, merely because they are installed at later date - NO: HC
 
New Delhi, February 10, 2017
CX - Operational compensation recovered from customer for non-lifting of goods produced is not towards sale or supply of goods and is, therefore, not includible in AV: CESTAT
 
Mumbai, February 09, 2017
CX - In terms of s.11A(2B), no SCN should have been issued when differential duty is paid alongwith interest - Duty paid on supplementary invoice even for extended period is admissible to recipient factory as credit: CESTAT
 
New Delhi, February 09, 2017
Cus - Air Travel Tax collected from passengers but not deposited in govt treasury - Monies deposited by lessor of aircraft could not be deemed to have been adjusted against tax dues: HC
 
New Delhi, February 09, 2017
ST - Excess amount paid by appellant by way of service tax can be refunded subject to provisions of Sec 11B only - Tribunal is a creature of statute and needs to function within its four walls: CESTAT
 
Bangalore, February 09, 2017
I-T - Whether submission of Form 15J before incorrect authority due to inadvertent human error, will render an income tax return as invalid - NO: HC
 
Mumbai, February 09, 2017
CX - Restriction in availing credit if depreciation is availed is only in respect of capital goods & not on services: CESTAT
 
Mumbai, February 08, 2017
CX - Since imported machine was damaged in transit & parts of same were replaced by fresh import of spares, credit proportionate to damaged parts is not available as same were not used: CESTAT
 
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