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
 
Page 48
New Delhi, September 28, 2018
GST - No profiteering made on sale of 'Hara Bhara Kabab Sub' - respondent had increased base price to make good loss which occurred due to denial of ITC post GST rate reduction: NAA
 
Mumbai, September 28, 2018
ST -'One-time' maintenance charges collected from flat buyers by builder not taxable : HC
 
Jaipur, September 28, 2018
I-T - Income being a share in AOP or BOIs is to be excluded while computing book profit u/s 115JB: ITAT
 
Ahmedabad, September 27, 2018
I-T - If additional relief claimed on basis of judicial precedents brings assessed income below returned income, appellate authority has jurisdiction to allow such deduction even if revised return was not filed: ITAT
 
Mumbai, September 27, 2018
ST - Once it is held that no penalty is imposable as non-payment of tax was not for wilful misstatement, then demand for extended period is also to be set aside: HC
 
Bangalore, September 26, 2018
I-T - If income is generated out of liquor trade, it has to be first taxed in hands of Excise Licencee, and distribution of surplus between conglomerates will take place only after payment of Income tax: HC
 
Jaipur, September 26, 2018
I-T - General share purchase transaction should not be construed as bogus, simply because such transaction has resulted in huge capital gains to investor: ITAT
 
Chennai, September 26, 2018
CX - Interpretation which makes Writ Court order as unworkable has to be construed as disobedience: HC
 
Allahabad, September 25, 2018
GST - E-way bill - gross chaos due to quick changes, even field officers could not track - seeking adherence to compliance of provisions which stood substituted and had become otiose is an unauthorized act: HC
 
New Delhi, September 25, 2018
I-T - CBDT circular which bars claim of depreciation in respect of any infrastructure facility, will be treated as mere opinion unless & until issue got covered by decided judgment of jurisdictional HC or SC: HC
 
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