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I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITAT Torrential rains cause havoc in Pakistan; 87 killed I-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITAT US imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to Pakistan CX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTAT Dubai terribly water-logged as it has no storm drains ST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTAT EU online content rules tightened against adult content firms Cus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTAT EV market cools off in US; Ford, GM eyeing gas-powered trucks Apple China tosses out WhatsApp & Threads from App store after being ordered China announces launch of new military cyber corps Railways operates record number of additional Trains in Summer Season 2024 GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC 1st phase polling - Close to 60% voter turnout recorded Ministry of Law to organise Conference on Criminal Justice System tomorrow GST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HC Govt appoints New Directors for 6 IITs Nexus between Election Manifesto and Budget 2024 in July!GST - Classification - Matter which had stood examined by Principal Commissioner is being treated differently by Additional Commissioner - Prima facie , approach appears to be perverse: HC Israel launches missile attack on Iran EC holds Video-Conference with over 250 Observers of Phase 2 polls


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Mumbai, May 26, 2016 CX - Supplementary invoices issued in respect of Input services - prior to 1.4.2011 credit cannot be denied by borrowing restriction provided in un-amended Rule 9(1) of CCR, 2004: CESTAT

Mumbai, May 25, 2016 CX - CENVAT - Improper dimension of goods mentioned in invoices - no malafide intention can be attributed but this does not mean that penalty needs to be set aside - Penalty u/r 26 of CER, 2002 reduced: CESTAT

Mumbai, May 25, 2016 ST - Even prior to 1.4.2011 since no ST was payable on auction sale of abandoned cargo, credit was not admissible on input service used in such output activity - in subsequent SCNs it cannot be said that there is suppression of fact on part of appellant so as to impose penalty u/s 78: CESTAT

Visakhapatnam, May 25, 2016 I-T - Whether interest income from bank deposits is to be treated as 'income from other sources' if assessee fails to prove that deposits were for business purpose - YES: ITAT

New Delhi, May 24, 2016 Govt notifies 13 more Smart Cities; Lucknow tops list of winners of Fast Track Competition

Chennai, May 24, 2016 I-T - Whether provisions for NPA can be equated with provision for bad and doubtful debts, for purpose of claiming deduction u/s 36(1)(viia)(b) - NO: ITAT

Mumbai, May 24, 2016 ST - Refund - Notfn. 17/2009-ST - Third party exports are permissible, however, provisions of notification require submission of proof that specified services had indeed been received by exporter claiming refund of tax paid: CESTAT

Mumbai, May 24, 2016 CX - Since boiler is final product of manufacturer, every component within it and every input that goes into component manufactured in factory would be an input so far as CCR, 2004 is concerned - Credit admissible on bought-out items shipped along with boilers outside India and to SEZ: CESTAT

Mumbai, May 23, 2016 CX - CENVAT - When rule 7 of CCR, 2002 prescribes an easy procedure of endorsement on body of the invoice, there is no logic for appellant to have not followed same but obtaining separate letter of endorsement thus giving rise to suspicion of evasion - Credit rightly denied: CESTAT

Mumbai, May 23, 2016 ST - Credit notes do not exist as inactive exhibits; financial adjustment is manifested as entries in journals & ledger to impact consideration made over and received for any goods supplied or service rendered - hurdle of unjust enrichment crossed - Refund admissible: CESTAT

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