News Update

CPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST -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)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-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 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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New Delhi, December 11, 2016
Pre-Budget Meet - IT industry seeks Sec 80C deduction on purchase of personal computer; incentives for R&D and support against protectionism overases 
 
Kolkata, December 10, 2016
I-T - Whether attempt made by I-T Department to serve notice of proceedings u/s 263 at old address of assessee, can be considered as good service - NO: HC
 
New Delhi, December 10, 2016
Income Tax refund surpasses Rs 1.5 lakh crore mark; Corporate tax grows at 8.75% and Central Excise mop-up continues to gallop at 43.5% during April-Nov, 2016
 
New Delhi, December 09, 2016
I-T - Whether capital gains tax exemption is to be denied to sick unit being revived by BIFR, on ground that after rehabilitation unit has shown profitability - NO: HC
 
New Delhi, December 09, 2016
Cus - FTP - Appellants could not have cleared products manufactured out of duty free inputs in domestic market before fulfillment of export obligation: HC
 
New Delhi, December 08, 2016
Modi Govt rolls out tax incentive, discounts and concessions if payments are made by credit or debit cards; 10% discount by toll plaza; No service tax upto Rs 2000
 
New Delhi, December 08, 2016
I-T - Whether when loss-making Indian subsidiary of a non-resident company receives some voluntary contribution from parent, aimed at protecting its investments, such payment is to be construed as capital receipt - YES: SC
 
New Delhi, December 08, 2016
I-T - Whether literal interpretation of terms while construing document can be ground for reversal of an order based on undisputed facts found during search & seizure operations - NO: HC
 
Mumbai, December 08, 2016
ST - Whatever may be activity of work contractor, it is nature of services of Appellant that has to be looked into for imposition of service tax: CESTAT
 
Mumbai, December 08, 2016
Cus - Whatever may be circumstances under which goods could not be cleared from bonded warehouse, duty liability would be at rate prevalent at time of filing ex-bond BoE and not when they were bonded: CESTAT
 
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