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
 
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Mumbai, July 04, 2016
CX - Valuation of Physician samples - as appellant has valued physician sample based upon pro rata basis with comparable goods available, comparable goods being sale pack of physician sample, cost of 'catch cover' is not required to be again added in AV: CESTAT
 
Vizag, July 03, 2016
BRICS Working Group on 'Energy Saving & Energy Efficiency' meeting tomorrow at Vizag
 
Mumbai, July 03, 2016
CX - Classification - Go-kart is correctly classifiable under CSH 87.03 - Revenue's appeal allowed but penalties imposed on assessee and Director set aside as issue is of interpretation and classification of goods: CESTAT
 
Chandigarh, July 02, 2016
Cus - SCN issued by ADG, DRI prior to 08.04.2011, adjudication order dated 25.6.2010 and consequential recovery proceedings, are rendered non est and void ab initio on vice of jurisdiction as admittedly he was not proper officer: HC
 
Mumbai, July 02, 2016
CX - Base frame is not an integral part of pump but only an accessory and is rightly classifiable under CH 8485 and not CH 8413 - entire issue has been considered in its proper perspective by Tribunal, hence there is no error, leave alone error apparent on the face of record - ROM application dismissed: CESTAT
 
New Delhi, July 01, 2016
NDPS - Can a writ of mandamus be issued to authorities to grant remission to convict? 'NO' rules Supreme Court
 
Mumbai, July 01, 2016
ST - CENVAT - It is beyond our comprehension as to how Appellant could have rendered its output service without availing services of pipeline laying contractors - concept of movability or immovability is irrelevant for determining eligibility to input service credit: CESTAT
 
Mumbai, July 01, 2016
I-T - Whether it is open to AO to refer matter to DVO u/s 55A if stamp duty is lower than agreement value - NO: ITAT
 
Mumbai, July 01, 2016
CX - Respondents are not entitled to refund of accumulated credit lying in their accounts unless they are able to show that they are fulfilling conditions prescribed under Rule 5 of CCR and notification issued thereunder: CESTAT
 
New Delhi, June 30, 2016
Income Declaration Scheme - CBDT issues fresh FAQ; clarifies no sharing of info with any other agency and credit for TDS to be allowed in certain cases
 
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