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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New Delhi, February 06, 2015
Cus - It is not task of Court to review or second guess factual findings based on evidence considered by lower authorities, but only to correct an order if it is based on manifestly incorrect construction of facts: HC
 
Chennai, February 05, 2015
Doctrine of Merger - When Commissioner (Appeals) decided issue on appeal by assessee, Order-in-Original does not survive and subsequent appeal filed by revenue against the same Order-in-Original is hit by Doctrine of Merger: HC
 
Mumbai, February 05, 2015
Cus - Commissioner(A) has gravely erred in giving finding which is against facts appearing on record - filing of consolidated appeal against four O-in-O instead of separate appeals is only technical requirement - monetary limit for filing appeal will apply only in case order was passed on merit: CESTAT
 
Chennai, February 05, 2015
I-T - Whether assessee is liable to pay penalty when there is concealment of income in original return, which is later disclosed in revised return for purchasing peace - YES: HC
 
Mumbai, February 05, 2015
CX - Allegations in SCN project a grievance pertaining to wrongful availment of credit - However, o-in-o & o-in-a proceeded on footing that declaration u/s rule 57G did not contain the reference to finished products - Orders travel beyond SCN: HC
 
New Delhi, February 04, 2015
Centre provides tax sops and more funds for rapid development of AP and Telangana
 
Mumbai, February 04, 2015
ST - Appellant procures orders from Indian Cos and passes on to overseas manufacturers with whom they have agreement for receiving commission - activity though culminates in supplies to Indian Company, cannot be considered as services provided in India - Appeal allowed: CESTAT
 
Chennai, February 04, 2015
Income tax - Whether for purpose of claiming deduction u/s 80IA, losses and other deductions which were set off against income of previous year, can be reopened again for computation of current year income - NO: HC
 
Mumbai, February 04, 2015
CX - Makers and framers of Rule 57F did not intend to deny MODVAT credit simply because inputs were not received after job work within 180 days - Period of 180 days cannot be held to be mandatory - Revenue appeal dismissed: HC
 
Mumbai, February 03, 2015
Sales Tax - Hire purchase transaction is covered within purview of term 'sale' and, therefore, insurance premium forms part of Sale Price - trademark is not exhausted once goods are sold - resale claim rightly disallowed: HC
 
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