News Update

CBIC revises tariff value of edible oils, gold & silverFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal
 
Page 288
New Delhi, September 05, 2016
CX - 6/2002 - To take a view that benefit can be extended only to those pipes which physically carry water and deny it to those which are used as Casing Pipes for protecting wells would defeat purpose for which notification was issued: CESTAT
 
Ahmedabad, September 05, 2016
I-T - Whether getting shares by allotment on application in public issue is to be construed as 'purchase' as per Explanation to Sec 73 and sale of such shares acquires hues of speculation business - NO: HC
 
New Delhi, September 04, 2016
ENTRY TAX - Whether 'packing materials' which enter local area for packing tea, can be claimed as input for purpose of seeking exemption from payment of Entry Tax - NO: Supreme Court 
 
New Delhi, September 04, 2016
Govt announces revival of 9 stranded gas-based power generation plants with 5070 MW installed capacity
 
New Delhi, September 03, 2016
Govt rules out extension of IDS, 2016; Curtain to be downed over Scheme by month-end
 
Mumbai, September 02, 2016
Cus- SAD - Notfn. 22/99-Cus - It is not goods which is significant for charging sales tax but it is area where tax should not be chargeable: CESTAT
 
Mumbai, September 02, 2016
I-T - Whether exemption u/s 54F is available where sum received on sale of capital asset is not appropriated neither unutilised amounts were deposited in specified bank account as per Sec 54F(4) - NO: HC
 
Mumbai, September 02, 2016
ST - Since definition of 'mandap-keeper' was amended to include 'marriage' as a social function, appellant could have entertained bona fide belief that amounts received towards marriage functions were not includible: CESTAT
 
New Delhi, September 01, 2016
Income Tax - Whether DCIT, Investigation, can be the appellate forum for any order of the AO or ITOs involved in search proceedings - NO: SC
 
New Delhi, September 01, 2016
ST - Without even SCN being issued & without there being any determination of amount of service tax arrears, resort to extreme measure of arrest followed by detention was impermissible in law - eBIZ.com wins in Delhi HC
 
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