News Update

India received foreign remittance of USD 111 bn in 2022, says UNPitroda resigns as Chairman of Indian Overseas Congress over racist remarkGovt hosts workshop on improving Ease of Doing Business in Mining sectorI-T - Anything made taxable by rule-making authority u/s 17(2)(viii) should be 'perquisite' in form of 'fringe benefits or amenity': SCCus - Drawback - Revenue contends that appeal of exporter ought to have been dismissed by Tribunal as not maintainable since correct remedy was filing a revision application with Central government - Appeal disposed of: HCCus - CHA - AA has clearly brought out the modus adopted by the appellant and how he was a party to the entire under valuation exercise - Factual finding affirmed by Tribunal - No question of law arises for consideration: HCGST - Proper officer has not applied his mind while passing the order; confirmed demand by opining that reply is not satisfactory - Proper Officer is directed to withdraw all punitive actions taken against petitioner pursuant to impugned order: HCGST - Proper Officer had to at least consider the reply on merits and then form an opinion - Non-application of mind - Order set aside and matter remitted for re-adjudication: HCGST - Cancellation of registration for non-filing of returns - Suspension/revocation of license would be counterproductive and works against the interest of revenue - Pragmatic view needs to be taken to permit petitioner to carry on his business: HC86 flights of AI Express cancelled as crew goes on mass sick leaveTax Refund Conundrum - Odyssey of Legal MisstepsI-T- AO not barred from issuing more than one SCN; Fresh SCN seeking information is not without jurisdiction, more so where HC itself directed re-doing of assessment: HCMurthy launches Capacity Building on Design and Entrepreneurship programCash, liquor & drugs worth Rs 110 Cr seized from Jharkhand ahead of pollsI-T- Appeal before CIT(A) (NFAC) is rightly dismissed where it has been delayed by over one year without just & reasonable cause: ITATPoll-induced stress: 2 Bihar officials die of heart attack at polling boothsSixth Edition of Commandants' Conclave held in PuneSome Gujarat villages keep away from polls over unfulfilled demands from governmentRoof-hugging inflation nudges Argentina to print first lot of 10,000 notes of pesoInvestigation finds presence of ‘boys club’ strands of culture at American bank regulatorUS cancels licence to some firms found exporting materials to Huawei
 
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Mumbai, February 02, 2016
CX - Commissioner cannot use discretion in not passing de novo order despite clear direction by CESTAT - Order to be passed within one month & compliance reported - MA allowed: CESTAT
 
New Delhi, February 01, 2016
Expert Panel recommends changes in 78 Sections of New Companies Act, 2013; Calls for change in definition of associate company
 
New Delhi, February 01, 2016
Competition Act - Whether continuation of an interim order is justified merely because it ensures continuous business operations for a person who can be compensated for any loss, in case such person wins the case on merits - NO: HC
 
Bangalore, February 01, 2016
Tribunal proceeded to pass order based on sentiments, without following statutory provisions, which is uncalled for, particularly, while adjudicating revenue matters - Order set aside and matter remanded to original authority: High Court
 
Mumbai, February 01, 2016
CX - Four Revenue appeals involves total amount of Rs.5.84 lakhs - even if total amount is taken, in view of latest Board instruction dated 18.12.2015, based on monetary limit, appeals cannot be filed if the amount involved is less than Rs.10 lakhs - Revenue appeals are dismissed: CESTAT
 
New Delhi, February 01, 2016
I-T - Whether radio programmes produced by assessee can be construed as 'thing', if not an 'article' as defined u/s 32(1)(iia) for purpose of additional depreciation - YES: HC
 
Hyderabad, February 01, 2016
Customs - Refund of SAD under Notification No 102/2007 Cus - Refund is admissible on timber logs sold as cut sizes - In absence of stay, order of Gujarat High Court prevails - CESTAT
 
Mumbai, January 30, 2016
CE - Appellants maintaining separate records for storage and use of imported and indigenous Orthoxylene - In absence of anything on record to establish that aforesaid records maintained by appellants are manipulated, exemption under notfn. 8/1997-CE, 13/1998-CE & 23/2003-CE has to be allowed: CESTAT
 
New Delhi, January 29, 2016
ST - Applicant is required to supply & install ESCIM System at site of customer, supply consumables, as also provide training - transaction qualifies as transfer of right to use goods & consequently is outside definition of service: AAR
 
Mumbai, January 29, 2016
ST - Refund - There is no provision in law that CENVAT credit can be allowed only after registration of unit - credit is allowed in respect of duty suffered on input services & said payment has nothing to do with registration of recipient of services: CESTAT
 
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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.