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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Bangalore, April 29, 2015
ST - While remanding matter, Tribunal can impose condition of pre-deposit - But such power has to be exercised only in judicious manner and not in an arbitrary manner - Order of Tribunal directing pre-deposit set aside: High Court
 
Bangalore, April 29, 2015
Income tax - Whether Sec 35AB gets attracted where sum incurred towards procurement of technical know-how is revenue in nature - NO: HC
 
Mumbai, April 29, 2015
CX - Co-appellant cannot be exonerated from penalty imposed u/r 26 of CER, 2002 even if main appellant has paid duty, interest and 25% of penalty in terms of proviso to Sec11A(2) - Immunity is available to only those persons to whom notice is issued u/s 11A(1): CESTAT
 
New Delhi, April 28, 2015
Customs - Appeal before Commissioner (Appeals) - Limitation - Time taken to pursue appeal in wrong forum to be excluded - Principles of Section 14 of Limitation Act applicable: Supreme Court
 
Bangalore, April 28, 2015
Income tax - Whether when assessee fails to establish that deferred revenue is actually declared as income in subsequent AYs, no fault can be attributed if AO resorts to reassessment - YES: HC
 
Ahmedabad, April 28, 2015
CX - Entire case was made out on basis of pre-drafted statements of buyers and computer printouts - Investigating officers have failed to comply with conditions of S.36B of CEA, 1944 - there is no adequate material available on record to establish clandestine removal of goods-appeals allowed: CESTAT
 
Chennai, April 27, 2015
Doctrine of unjust enrichment is not applicable to State Govt undertakings - High Court reverses Tribunal decision
 
Ahmedabad, April 27, 2015
Income tax - Whether when subsidy is not for buying capital assets and same was received after commencement of production it is to be construed as revenue receipt - YES: HC
 
New Delhi, April 27, 2015
Cus - Appellant cannot pick line here and line there, out of context and impute motive, which reading of whole document does not disclose - Appeal dismissed: High Court
 
New Delhi, April 26, 2015
India has pre-requisites for building advantage in services but regulations act as a barrier: FM
 
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