News Update

Income tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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New Delhi, August 04, 2016
Income Tax - Whether when assessee accepts finality of order in context of quantum proceedings, it is not open to assessee to agitate same issue in Sec 271C proceedings - YES: HC
 
Mumbai, August 04, 2016
ST - Authorized Service Station - Servicing delegated to another dealer - costs met by appellant are expenditure towards service procured to provide an output service - credit admissible: CESTAT
 
Ahmedabad, August 04, 2016
DGFT is an independent authority and is not governed by directions of DRI or Customs - Directed to consider applications for EODC independently: HC
 
Ahmedabad, August 04, 2016
I-T - Whether reassessment order is to be set aside on ground that before passing such an order AO had not disposed of objections raised by assessee - NO: HC
 
Mumbai, August 03, 2016
Cus - Bringing out of goods from a SEZ fails to meet definition of 'import' under CA, 1962 - Jurisdiction is not merely territorial but also has to be in context of scope of statute which is sought to be invoked: CESTAT
 
New Delhi, August 03, 2016
ST - When letters of Department failed to specify specific information that was to be provided, there could be no failure by Respondent to provide information: HC
 
New Delhi, August 03, 2016
I-T - Whether rental income received from business assets is business income and not income from house property - YES: ITAT
 
Mumbai, August 03, 2016
Cus - Benefit of Notfn. 39/90 in r/o Ethyl Glycol [SH 2909.49] - fact that heading 29.05 in notification was substituted by Ch. 29 by an amending notification points to fact that there was an error which was corrected at later date: CESTAT
 
Chandigarh, August 02, 2016
Corrigendum issued to ADD Notification No 27/2014 – ADD dated 13.06.2014 – Effective from date of Notification – Demand of ADD quashed: High Court
 
Chandigarh, August 02, 2016
CX - Issue involved is regarding valuation of goods as evident from order of Tribunal which considered issue in light of s.4 of CEA, 1944 - Revenue Appeal dismissed: High Court
 
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