News Update

CBIC revises tariff value of edible oils, gold & silverFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal
 
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Bangalore, September 18, 2018
I-T - Allotment of shares of company which succeeds to business of partnership firm has to be complied before end of relevant previous year in which succession of business took place: HC
 
Chennai, September 18, 2018
Cus - Rule is to prefer an appeal and entertaining a writ is only an exception: High Court
 
Mumbai, September 17, 2018
CX- In case of retrospective levy, whether interest for period before enactment of provision can be demanded: HC
 
Chennai, September 17, 2018
I-T - Cost incurred by firm for imparting foreign education to son of one of partners, who continues to work for firm after his return, is admissible business expenditure: HC
 
Ahmedabad, September 15, 2018
GST - Section 140(3)(iv) of CGST Act, 2017 - no just, reasonable or plausible reason is shown for making such retrospective provision taking away vested rights - clause (iv) is unconstitutional: Gujarat HC
 
Ahmedabad, September 15, 2018
I-T - Income earned from operation and maintenance of SEZ is eligible for deduction u/s 80IAB: ITAT
 
Jaipur, September 15, 2018
CX - Revenue has challenged CESTAT order dropping demand of Rs.30.85 lakhs - in view of revised monetary limits laid down by Circular dated 11.07.2018, appeal cannot be sustained: High Court
 
Mumbai, September 14, 2018
CX - Whether amendment made to S.35L of CEA, 1944 on 6th August, 2014 by insertion of sub-section (2) is clarificatory or prospective in nature - Matter referred to Larger Bench: High Court
 
New Delhi, September 14, 2018
I-T - When validly revised return, filed pursuant to notice u/s 153A, is accepted, defects found in original return cannot be considered for purpose of penalty: ITAT
 
Mumbai, September 13, 2018
ST - Jurisdiction of High Court is determined by nature of order passed by Tribunal and not by manner in which question is proposed: HC
 
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