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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Ahmedabad, January 31, 2015
CENVAT - Credit cannot be taken on any date as per appellant's choice by modifying records at will: CESTAT
 
Mumbai, January 30, 2015
Not considering precedent orders by CESTAT - Cryptic orders lacking in reasoning and precision are passed day in and day out - Fault lies either in process of selection and appointment or because there is no review and appraisal of performance of Tribunal Members from time to time: HC
 
Mumbai, January 30, 2015
CX - Too late in day for Revenue to urge that refund application was not maintainable - Interest u/s 11AB is payable only in respect of clearances post 28.09.1996 irrespective of date of passing of adjudication order - Revenue appeal dismissed: HC
 
Bangalore, January 30, 2015
Income tax - Whether when except advances shown against current asset for fiscal, there is no other evidence to prove that land was purchased for purpose of business, sale of such land attracts tax on capital gains - YES: ITAT
 
Mumbai, January 29, 2015
Cus - Assessment on shore tank quantity or Transaction value - Board Circular to be considered retrospective as same is not contradictory to earlier Circular - Rule of unjust enrichment to apply even in provisional assessments: CESTAT
 
Mumbai, January 29, 2015
Income tax - Whether for purpose of computing depreciation, only written down value of transferred assets of demerged company as per books maintained shall constitute WDV of block of assets of resulting company - YES: ITAT
 
New Delhi, January 29, 2015
Service Tax - 'Commercial Training and Coaching' - Mandatory Training of Insurance Agents - not liable to pay Service Tax: CESTAT
 
New Delhi, January 28, 2015
Union Cabinet decides to accept Bombay HC decision in Vodafone TP adjustment case
 
Mumbai, January 28, 2015
Refund of SAD - refund rejected on ground that at time of filing claim VAT not paid - since law allows importer to pay VAT within 21 days of close of month, claim may be said to be premature - however, as claim filed within one year from payment of SAD, rejection on technical ground is not sustainable: CESTAT
 
New Delhi, January 28, 2015
Income tax - Whether for purpose of Sec 158BD, a satisfaction note is sine qua non and must be prepared by AO before he transmits records to other AO who has jurisdiction over such other person - YES: HC
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.