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, February 23, 2015
Income tax - Whether disallowance of both direct and indirect expenses u/s 14A is applicable while computing book profits under Sec 115JB - YES: ITAT
 
New Delhi, February 23, 2015
CENVAT - Visiting Technical personnel of Suzuki Motors, Japan provided with first class furnished Western-style house for stay - Outdoor Catering Service and Housekeeping services are to be considered as Input Service: CESTAT
 
Mumbai, February 22, 2015
ST - Kaldarshika is an Almanac - it cannot be termed as yellow pages or a trade catalogue - it is a 'book' - since sale of space for advertisement in 'print media' meaning 'book' is excluded from purview of this taxable service, ST demand correctly set aside: CESTAT
 
New Delhi, February 22, 2015
Focus on Export of Services - Govt constitutes IMG and sub-groups on different sectors
 
Mumbai, February 21, 2015
ST - Technical Consultancy - Consideration for transfer of business to be paid as royalty - appellants being manufacturers not rendering any advice or consultancy - no liability to tax: CESTAT
 
Mumbai, February 20, 2015
ST - Under ST law, assessee is not prohibited from paying tax on services exempted under notification - there is no provision akin to Section 5A(1A) of CEA, 1944 - Rule 6 of CCR, 2004 would not apply - Appeals allowed: CESTAT
 
New Delhi, February 20, 2015
I-T - Whether provisions of Sec 292B will overcome irregularity if Sec 153C proceedings against a company which stands amalgamated with other company are found to be invalid - NO: HC
 
Mumbai, February 20, 2015
CX - Amendment of Rule 57C allowing credit in respect of inputs used in final product cleared to EOU/FTZ under exemption is substantive one - such amendment cannot but be held to be prospective: High Court
 
Mumbai, February 19, 2015
ST - Govt departments are working with depleted staff strength - Finance & Accounts Manager is crucial post and its vacancy vital element and factor - In such circumstances, by imposition of costs, discretion could have been exercised by Tribunal in favour of statutory entity: High Court
 
Mumbai, February 19, 2015
Income tax - Whether where assessee has restrained himself from contesting tax effect in respect of disallowance u/s 14A, such concession on part of assessee should not be held against him in any other proceedings - YES: HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.