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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Mumbai, July 08, 2015
Cus - Refund - Merely because sales contract with Railways mentions that same includes all taxes, it cannot be said that SAD has been recovered when CA certificate shows amount as receivable from Customs in Balance sheet: CESTAT
 
New Delhi, July 07, 2015
ST - CESTAT is a creature of very Act of which said Sec 35F is part and, therefore, it cannot go beyond provisions of Act which has created it - Pre-deposit is mandatory in respect of appeals filed after 06.08.2014 - Fact that SCN was issued before 06.08.2014 is of no relevance: CESTAT
 
Mumbai, July 07, 2015
CX - Tribunal has no power to dismiss petitioner's appeal without adjudication on merits - While condoning delay and restoring appeal, Tribunal could have imposed some reasonable conditions but even that has not been done: HC
 
New Delhi, July 07, 2015
I-T - Whether when assessee mainly provided link between companies floated by entry provider and no sum was paid for purchase of untraded shares, such sale and purchase is to be construed as sham - YES: HC
 
Mumbai, July 07, 2015
Cus - Rejection of application for grant of Customs Broker's licence - only broker can file appeal before CESTAT against order of suspension - Applicants are not brokers - prima facie appeal does not lie before Tribunal: CESTAT
 
Mumbai, July 06, 2015
Customs Broker Licence - Very purpose of inserting a requirement of passing a written as well as oral examination is defeated, if, within a reasonable time from candidate being successful thereat, a licence is not issued to him: High Court
 
New Delhi, July 06, 2015
Service Tax - Show Cause Notice and Adjudication order should specify alleged service for which tax is payable: CESTAT
 
Chennai, July 06, 2015
Credit availed capital goods given on lease - No requirement to reverse CENVAT Credit under Rule 3(5) - High Court upholds ratio of Tribunal
 
Hyderabad, July 06, 2015
VAT - Whether land, being immovable property and not falling within definition of goods under Sec 2(16), is liable to tax under Sec 4(7)(a) - NO: HC
 
Mumbai, July 06, 2015
ST - Supply of models for advertising of products or acting in TV serials/films is not covered under taxable service of 'Manpower Recruitment Agency' during period 2001-02 & 2002-03 and became taxable only from 16.06.2005 - Appeal allowed: CESTAT
 
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