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
 
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Chennai, May 20, 2016
CX - Unutilised credit is admissible as refund under Rule 5 on closure of unit - State should not be enriched at cost of citizen: CESTAT
 
Mumbai, May 20, 2016
Cus - Redemption fine - In absence of any statutory provision, miscellaneous application for stay of impugned order or for waiver of pre-deposit of any amount cannot be entertained: CESTAT
 
Kolkata, May 20, 2016
I-T - Whether invocation of powers u/s 263 is justified when CIT had reasons to believe that it could be a case of money-laundering and AO failed to conduct proper investigation - YES: HC
 
Mumbai, May 20, 2016
ST - If an amount paid by appellant to Alan Van Niekerk is considered as salary by IT Dept., it cannot be held by ST Dept., another branch of MF, DR, as amount paid for consultancy charges and taxable under FA, 1994: CESTAT
 
New Delhi, May 19, 2016
Cus - Power under Article 226 is only to ensure that authorities whose action is subject matter of judicial review, have acted in accordance with law: High Court
 
New Delhi, May 19, 2016
I-T - Whether when assessee's closed unit was rehabilitated under sanctioned Scheme but assessee sold property without taking prior approval of Board, it would amount to alteration of scheme and assessee loses rights to seek extension of Scheme - YES: SC
 
Mumbai, May 19, 2016
ST - Placement fees collected from students covers expenses for organizing campus interview - recipient client must be prospective employer & consideration must flow from such employer - Not taxable under Manpower Supply services: CESTAT
 
Allahabad, May 19, 2016
I-T - Whether interest paid by bank on FDRs purchased by 'NOIDA', is exempted from deduction of tax at source u/s 194-A(1), being Corporation established under Industrial Act - YES: HC
 
Jodhpur, May 19, 2016
CX - It is obligatory upon Tribunal to satisfy itself about delivery or tendering of notice before presuming that notice was served as per s.37C(2) - Matter remanded: HC
 
New Delhi, May 18, 2016
I-T - Whether in a situation of concurrent jurisdiction when Inspecting AC does not exercise powers and functions of ITO, the latter is free to assume jurisdiction and pass order - YES: SC
 
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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.