News Update

CPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Mumbai, December 27, 2014
CENVAT - Chemicals supplied to job worker for use in processing of semi-finished parts - Job worker utilising excess CENVATTED inputs than norms - appellant imposing penalty to maintain efficiency - no cause for reversal of credit: CESTAT
 
Mumbai, December 26, 2014
Cus - A one line sentence that case involves a pre-meditated modus operandi and is a prima facie case in favour of Revenue cannot constitute an order of pre-deposit - since no sufficient reasons given, matter remanded: CESTAT
 
Mumbai, December 26, 2014
Income tax - Whether payment on sale of shares can be treated as mere accommodation of cash, in case of availability of DMAT account showing credit of share transactions and contract notes from brokers - NO: HC
 
New Delhi, December 26, 2014
Failure to examine panch witness and variation in purity of samples results in acquittal of accused under NDPS Act by High Court
 
Ahmedabad, December 25, 2014
ST - Petitioner society, engaged in maintaining common ETP and providing facility to members - s.65(25a) was declared unconstitutional by HC - notification also gives retro exemption - Demand of Rs 71 lakhs set aside: HC
 
New Delhi, December 25, 2014
CENVAT credit availed on capital goods & Input services used in erection of transmission towers - on what basis it was evident that appellants 'knew' that taking credit was irregular is not discerned from SCN - issue received clarity only after LB decision in Vandana Global - Pre-deposit of Rs 143 Cr waived: CESTAT
 
Mumbai, December 24, 2014
Cus - Royalty paid for engineering & supervisory services are includible in AV of equipment imported u/r 9(1)(c) and 9(1)(e) of CVR as these payments are integrally connected with & formed part of package deal: CESTAT
 
Ahmedabad, December 24, 2014
Income tax - Whether if assessee does not claim Sec 80IA benefits in initial years, same can be claimed in subsequent years when conditions stipulated are fulfilled - YES: HC
 
Mumbai, December 24, 2014
CENVAT - Wind mill installed by appellant away from factory to generate electricity which has been used in course of business of manufacturing - credit of ST paid on annual maintenance charges of wind mill is admissible: CESTAT
 
Mumbai, December 23, 2014
ST - Dhirubhai Ambani Pioneer Offer - club membership and club privilege charges are not liable to be included in taxable service relating to telephone connection service: CESTAT
 
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