News Update

US Presidential Poll: Tall promises by Hopefuls elbow economy closer to tax-doom-loop!Sourav Ganguly goes to Police against cyberbullyingYadav calls for development of sustainable, Inclusive low-carbon transport systemsFed lives up to global expectations; cuts interest rate by 0.5% - first cut in last 4 yearsMandaviya chairs meeting to provide Social Security to Gig and Platform WorkersCus - Import of Areca Nuts - Department did not follow procedure laid down by CBEC for verification or testing/re-testing, to establish true origin of goods; Nuts imported from Sri Lanka otherwise meet requirements for duty-free import under Notfn No 26/2000-Cus: CESTATCAQM announces revised GRAP schedule for Delhi-NCRChina to be on top of agenda at Quad meeting: White HouseCus - No proper evidence is found towards Customs Officer's involvement in fraud, the allegation that appellant has actively colluded with Customs officials cannot legally sustain, penalty imposed on appellant also cannot sustain: CESTATIndia's position is of a 'Vishwa Bandhu' in global world order: CDS Gen Anil ChauhanST - The contracts being composite in nature and demand having been raised under Construction of Residential Complex Services, demand of service tax cannot sustain for the period after 01.07.2010 also: CESTATGovt organises 'FAME's Success in Transforming India's EV Landscape: From Vision to Reality'Death toll rises to 21 in second wave of blasts in Lebanon - it was Walkie-Talkie after pagerI-T - Miscellaneous income such as commission, discount charges, sale of wastages and diesel sales are to be treated as income derived from industrial undertaking: HCGermany halts exports of weapons to IsraelI-T - If any statute has been enacted, there cannot be insertion of any word beyond the contents of the statute: HCI-T - Contributions to PF/ESI paid before the due date u/s 139(1) of the Act are allowable as deduction: ITATBaltimore Bridge collapse: US seeks USD 100 mn compensation from Singapore-based ship ownerI-T - No license is granted under Income tax Act to misuse presumptive scheme of taxation and camouflage undisclosed income from unexplained sources under guise of turnover/gross receipt: ITATI-T - If no return of income is filed by tax-payer, then appeal can only be admitted by CIT (A) only when tax-payer has paid advance tax which was payable by him: ITATFaux cybercrime platforms busted in global operations; 51 arrested by EuropolI-T - Dismissal of assessee's appeal in limine by CIT(A), without going into merits of issues, solely due to non-appearance of assessee, is unsustainable, being in direct contravention of Section 250(6): ITATI-T - CIT(A) has powers co-terminus with those of the AO and is permitted under law to make own inquiry or direct AO to inquire into the matter, in case of assessee's absence : ITATIMF pauses Mission to Moscow after Kyiv protestsCabinet okays National Centre of Excellence for Animation, Visual Effects & GamingCabinet accepts recommendations of High-Level Committee on Simultaneous ElectionsCabinet gave approval for CHANDRAYAAN-4 MissionIncome tax collections till Sept 15 up by 16%After Moon and Mars, India sights science goals on VenusCabinet approves Pradhan Mantri Janjatiya Unnat Gram AbhiyanISRO to develop launch reusable vehicle with high payloadJapan, France to ink military pact by year-endFM holds 2nd review meeting on Capex for Ministry of RailwaysCyber fraud - posing as CBI officer - Railway staffer loses Rs 9 lakhGlobal Renewable Energy Meet: Investment commitments of Rs 32.45 lakh Cr poured: JoshiProvisional Attachment - Precaution, Persecution, Penury?Dak Ghar Niryat Kendra expands export services with automated IGST Refund facilityThe Delay Dynamics
 
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Ranchi, October 25, 2016
ST - Passing Orders taking hyper technical views should be avoided for they unnecessarily increase workload of Court - CC should have guided Commissioner (A) in meetings: HC
 
Mumbai, October 24, 2016
I-T - Whether exercise of extraordinary jurisdiction by HC is warranted in case of petition filed by assessee, who has, by participation in proceedings before AO consequent to transfer of its case, accepted impugned orders - NO: HC
 
Mumbai, October 24, 2016
ST - Once it is accepted that Appellant is rendering 'Mandap Keeper' service and Bills were raised for gross amount towards food, assessee would be eligible for abatement of 40% from value for payment of service tax: CESTAT
 
Ahmedabad, October 24, 2016
FPS - Withdrawal of export incentive to items other than bicycle parts under entry No 269 of Appendix 37-D - HC quashes DGFT Trade Notice 11/2015 - No recovery of benefits already granted
 
Chandigarh, October 23, 2016
ST - As appellant has given contract for loading/unloading on basis of weight of goods and not as per labour provided, activity cannot be termed as supply of Manpower: CESTAT
 
New Delhi, October 22, 2016
ST - There is no bifurcation in commission agent agreement regarding supply of goods and services - entire quantum of ST paid by commission agent is entitled as credit: CESTAT
 
Chennai, October 22, 2016
TNGST - Whether it is permissible for Legislature to introduce a Explanation to provision of fiscal Statute, which has feature of expanding scope of charging section - NO: HC
 
New Delhi, October 21, 2016
Cus - Attaining self-sufficiency is precursor to trigger right of the petitioners to seek permission to export their participating interest/share of crude oil: High Court
 
Kolkata, October 21, 2016
I-T - Whether when complaint filed by assessee against accountant has been duly filed with police, in that case assessee's inability to produce books needs to be believed & he could not be considered as defaulter for not discharging onus of providing books before AO - YES: ITAT
 
Mumbai, October 21, 2016
CX - Contract for manufacture & supply of Electrical Transmission towers - debit notes raised for excess amount of material used - CX duty not payable prior to 1st July 2000 but payable thereafter as valuation is based on Transaction value: CESTAT
 
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