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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Chennai, April 04, 2016
ST - Recovery of dues - Dues of Proprietorship firm cannot be recovered by attaching Bank Account of Private Ltd Company - Revenue's action is illegal: HC
 
Mumbai, April 04, 2016
ST - CENVAT - Services provided by IHCL are correctly classifiable under Business Consultant's Services and not under BAS - jurisdictional officers at recipient's unit are not empowered to revise classification at provider's end - In any case, change of classification at end of IHCL would be prospective: CESTAT
 
Mumbai, April 04, 2016
I-T - Whether mere fact that AO failed to make reference to disputed provisions in assessment order, would warrant invocation of revisionary powers u/s 263 when issues were duly enquired into - NO: HC
 
New Delhi, April 04, 2016
CX - Notfn 50/2003 - It would be retrograde step and not in consonance with Govt policy not to allow existing unit to grow in existing plot of land by installation of new plants and machineries: AAR
 
New Delhi, April 03, 2016
NDPS - Stringent punishment, stricter proof - Prosecution has failed to establish commission of offence by respondent and beyond reasonable doubt - evidence is scanty - order of trial court cannot be faulted: High Court
 
New Delhi, April 03, 2016
PM to launch 'Stand up India Scheme' tomorrow; Loans up to Rs 100 lakhs to be given to SC, ST & women
 
Paris, April 03, 2016
Tax to GDP ratios rising in African economies; Tunisia tops the chart with 31.3%: OECD
 
New Delhi, April 02, 2016
India is now 6th largest manufacturer in world; China & USA continue to hold top two ranks: UNIDO Report
 
Mumbai, April 02, 2016
ST - Informant seeking balance reward - writ jurisdiction is not remedy - petitioner has an alternate and equally efficacious remedy of bringing in civil suit in competent Civil Court: High Court
 
Ahmedabad, April 02, 2016
CX - Authorities of recipient of input/input service credit are not competent to adjudicate ISD invoice but it is jurisdictional officer of Input Service Distributor - Matter remanded: CESTAT
 
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