News Update

Musk defers India’s trip citing heavy Tesla obligationsIndia needs to design legislative pills to euthanise tax-induced expatriation!I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITATTorrential rains cause havoc in Pakistan; 87 killedI-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITATUS imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to PakistanCX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTATDubai terribly water-logged as it has no storm drainsST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTATEU online content rules tightened against adult content firmsCus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTATEV market cools off in US; Ford, GM eyeing gas-powered trucksApple 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 recordedMinistry 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 IITsNexus between Election Manifesto and Budget 2024 in July!Israel launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 polls
 
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Mumbai, November 02, 2016
I-T - Whether where reasons recorded in support of notice u/s 148 ex facie reveal it to be without jurisdiction, it is open to assessee to directly seek writ jurisdiction under Article 226 of Constitution - YES: HC
 
Mumbai, November 02, 2016
Cus - For violation of Customs provisions, duty should have been proposed and confirmed under provisions of CA, 1962 - confirmation u/s 11A of CEA, 1944 cannot sustain: CESTAT
 
Chennai, November 01, 2016
I-T - Whether assessee's application for compounding of offences u/s 276B is to be rejected merely on ground that assessee was convicted by Criminal Court and had been issued non-bailable warrant - NO: HC
 
Mumbai, November 01, 2016
ST - Denying CENVAT credit on ground that amounts towards export of software are not received in convertible foreign currency seems to be irrational way of denying legitimate refund to an assessee: CESTAT
 
Mumbai, November 01, 2016
Cus - Linden Wood Slats for manufacture of wooden pencils are Articles of Wood and correctly classifiable under S.H. No. 4421.90 of Customs Tariff: CESTAT
 
New Delhi, October 31, 2016
UP Trade Tax Act - Raw materials purchased at concessional rate to manufacture goods, which were stock transferred - No violation - consistency and certainty in tax matters is necessary: SC
 
Mumbai, October 31, 2016
I-T - Whether CIT(A) though having co-terminus power with that of AO, can independently initiate penalty proceedings on new ground in case of quantum proceedings - NO: HC
 
New Delhi, October 31, 2016
CENVAT Credit of CVD availed on imported capital goods Re-exported without payment of duty Demand of CENVAT Credit is not justified: CESTAT
 
Mumbai, October 30, 2016
ST - 84 days delay in filing appeal due to ill-health of father condoned subject to payment of cost of rupees ten thousand to Principal CST: CESTAT
 
New Delhi, October 29, 2016
Orissa Sales Tax - Surcharge under OST is payable on Gross amount of sales tax without deducting amount of entry tax: SC
 
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