News Update

CBIC amends tariff value of silver; No change for other commoditiesHigh Level Official Delegation from Mauritius visits National Centre for Good GovernanceGovt hikes Minimum Wages vide enhanced VDA for unorganised workersTRAI mandates whitelisted URLs, APKS, or OTT links for SMS TrafficGST - Rule 86A is not a machinery provision for recovery of tax - Order can be passed only if ITC is available in the taxpayer's ECL - No negative blocking: HCFrance backs India’s membership to Security CouncilGST - No opportunity of personal hearing as was requested while replying to SCN was given - Order set aside: HCJaishankar calls for reforms of WTO, G20 & UNGST - Goods were purchased from SAIL by a third party who sold to petitioner and who subsequently re-sold to consignee - No justification for detention on ground that correct documents were not travelling with truck: HCFamily of 5 found dead in car in TN; Suicide suspectedAlternative Global Value Chain - Is India going to be 'Next China'!IMF okays USD 7 bn loan to support Pak’s sinking economyCus - Unreasoned order - Order spoke for itself - Revenue counsel tries his best to justify order but in the end had to throw in the towel: HCBombay HC quashes govt clearance given after construction in Coastal areaPrevent misuse of s.114AA of Customs ActBrazil keen to ink trade deal with EUGST - Existence or otherwise of principal place of business - A taxpayer's registration cannot be cancelled solely on the basis of some general queries/enquiries from random persons, of which there is no record: HCHarris promises tax credit and investments to US manufacturersCBIC notifies HAG benefits to 22 IRS officersNukes may deflect asteroid threatening earth: ScientistsAfter Iranian death threat, Trump says Iran should be torn into piecesIndia, Australia working to strengthen ECTA through CECA: GoyalUS Intel suggests Russia has secret war drones factory in ChinaSurvey reveals 31% Indians now use e-com platforms for ordering groceryIndia's coal imports see marginal increase amid surge in Power Generation
 
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Ahmedabad, October 05, 2016
I-T - Whether if annual receipts of educational body exceed sum prescribed, it needs to seek approval u/s 10(23C) for exemption of income received - YES: HC
 
Mumbai, October 05, 2016
ST - Extended period of limitation cannot be invoked as issue of taxability of service was not free from doubt and matter came to be decided by Larger Bench: CESTAT
 
Mumbai, October 05, 2016
CX - Rule 9 of Valuation Rules, 2000 contemplates that entire production needs to be sold through holding company - In the case in hand, only 2% sales are made to holding company, therefore, rule 9 cannot be invoked: CESTAT
 
Mumbai, October 04, 2016
ST - IPR service - Nature of 'technical knowhow' transferred to appellant from among trade mark, design, patent has not been identified in SCN/o-in-o and which is critical flaw: CESTAT
 
Mumbai, October 04, 2016
Cus - Notfn 64/88 - factual position that Customs Duty Exemption Certificate issued by DGHS authorities stood withdrawn was not brought to knowledge of Bench which referred issue - Matter remitted: CESTAT Larger Bench
 
Ernakulam, October 04, 2016
I-T - Whether interest u/s 244A on refund granted to assessee u/s 247 can be denied even if delay in filing of return was condoned by High Court but it was found that such delay was attributable to the assessee - YES: HC
 
Patna, October 04, 2016
Cus - Onus was on respondent to prove that gold imported is prior to prohibition and/or has been purchased from RBI - seizure and confiscation is legal: HC
 
Mumbai, October 03, 2016
I-T - Whether transaction of 'off market purchase of share' for which payments were made in cash and brokers had issued pre-dated contract notes, is liable to be treated as bogus transaction, and hence liable to tax - YES: ITAT
 
Patna, October 03, 2016
Whether 'Notification' issued u/s 19(4) of Bihar Excise Act imposing immediate ban on liqour sale cannot be sustained, if such notification is in contravention to objects of Act which provides for prohibition but in phased manner - NO: HC
 
Ahmedabad, October 03, 2016
I-T - Whether if a benefit given to employee is taxed as fringe benefit, same would not form part of perquisite of employee, subjecting him to further tax as additional income - YES: HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.