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
 
Page 28
Mumbai, January 01, 2019
I-T - Fees charged by banks for processing credit card payments, cannot be construed as 'commision' warranting any tax liability u/s 194H: HC
 
Mumbai, January 01, 2019
Cus - 'Micromanipulator', can, by no stretch, be considered to be an accessory of 'microscope' - rightly classifiable under CTH 9018 9099: CESTAT
 
Mumbai, December 31, 2018
Cus - Furniture is assessed to duty as 'unit' and not by weight, therefore, loading invoice price on pro rata basis to extent of excess weight of furniture is unsustainable in law: CESTAT
 
Chandigarh, December 31, 2018
I-T - Revisionary powers are to be invoked only when there is no inquiry done by AO and not inadequate inquiry: ITAT
 
Jaipur, December 29, 2018
I-T - Method of valuation of stock consistently followed by assessee and accepted by AO in preceding years, cannot be changed by AO without any substantial reason: ITAT
 
Ahmedabad, December 28, 2018
I-T - Gross delay in fixing & hearing of appeals before Third Members or Special Benches undermines utility & efficacy of such mechanism: ITAT Special Bench
 
Mumbai, December 28, 2018
ST - Except training or coaching falling in exclusion category, all training or coaching falls under definition of 'Commercial training or coaching service' and is liable to tax: CESTAT
 
Allahabad, December 28, 2018
I-T - CIT(A) cannot revisit settled issue through rectification proceedings, if initial findings are merged with those of Tribunal on same issue: HC
 
Ahmedabad, December 28, 2018
I-T-Interest income received on FDRs for obtaining LC is business income of undertaking which is to be taken into consideration while calculating deduction u/s 10AA: ITAT
 
Mumbai, December 27, 2018
I-T - Exemption otherwise available to charitable trust u/s 11 can be denied to extent of its diverted income as per Sec 13 and not entire income: HC
 
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TIOL Tube brings you an interview with former US Secretary of Treasury, Mr. Larry Summers who was recently in Delhi.

AR not Afar by SK Rahman



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.