News Update

Musk defers India’s trip citing heavy Tesla obligationsIndia needs to design legislative pills to euthanise tax-induced expatriation!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 : ITATTorrential rains cause havoc in Pakistan; 87 killedI-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITATUS imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to PakistanCX - 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: CESTATDubai terribly water-logged as it has no storm drainsST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTATEU online content rules tightened against adult content firmsCus - 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: CESTATEV market cools off in US; Ford, GM eyeing gas-powered trucksApple China tosses out WhatsApp & Threads from App store after being orderedChina announces launch of new military cyber corpsRailways operates record number of additional Trains in Summer Season 2024GST - 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: HC1st phase polling - Close to 60% voter turnout recordedMinistry of Law to organise Conference on Criminal Justice System tomorrowGST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HCGovt appoints New Directors for 6 IITsNexus between Election Manifesto and Budget 2024 in July!Israel launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 polls
 
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Mumbai, November 27, 2018
I-T - Not 'commencement of business activity' rather 'setting up of business, is relevant under I-T Act, for purpose of ascertaining allowability of business expenditure: ITAT
 
Ernakulam, November 26, 2018
GST - Process of detention cannot be resorted to when dispute is bona fide, especially, concerning exigibility of tax and, more particularly, rate of that tax: High Court
 
Mumbai, November 26, 2018
CX - Whether issue of a demand being time barred is an issue relating to assessment of goods - Matter referred to LB: HC
 
Chandigarh, November 26, 2018
I-T - Since penalty proceedings are distinct from assessment proceedings, additional evidences filed by assessee cannot be rejected for admission by simply following order of ITAT in quantum proceedings: ITAT
 
New Delhi, November 24, 2018
I-T - Error made by I-T Authorities in not referring matter for valuation of property to DVO, is not fatal, and can be cured by remanding matter with a direction to refer issue of valuation to DVO: ITAT
 
Mumbai, November 23, 2018
I-T - Renting out part of house for installation of mobile tower is akin to letting out house property itself: ITAT
 
Mumbai, November 23, 2018
ST - VCES, 2013 - S.111 of FA, 2013 does not bar initiation of the proceedings u/s 73 of the FA, 1994 vis-à-vis service tax short paid or not paid-Appeal dismissed: CESTAT
 
Mumbai, November 22, 2018
ST - Actual consideration for CC/OD services is only higher interest rate and nothing else - since exemption is granted in r/o interest charged, services are to be treated as exempted and attract rule 6 of CCR, 2004: CESTAT
 
Mumbai, November 22, 2018
I-T - High remuneration paid to Directors cannot be construed as a tool to shift profits to evade tax if same is offered to tax through personal returns: ITAT
 
Chennai, November 21, 2018
I-T - Department should wait for disposal of appeal & stay petition, before initiating recovery proceedings: HC
 
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