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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Chennai, November 14, 2014
Income tax - Whether if loan is taken from friend and repayment of same is made in cash within same FY, it can be assumed that such loan is for business exigency and not of undisclosed income - YES: HC
 
Mumbai, November 14, 2014
ST - Remuneration received towards sale of JP Miles to business partners to promote business is not BAS - Pre-deposit waived: CESTAT
 
Mumbai, November 13, 2014
ST - Commissioner gaining time by citing one reason or other & not sanctioning refund - authorities to take expeditious steps to sanction refund keeping in mind that interest is to be paid from kitty of general public - Order marked to FM: CESTAT
 
New Delhi, November 13, 2014
Cus - CESTAT can entertain appeals filed against orders of Commissioner passed under Regulation 23 of CBLR, 2013 - view by Tribunal in S.N.M Agency is clearly erroneous - Petition dismissed: High Court
 
New Delhi, November 13, 2014
Income tax - Whether assets or cash seized u/s 132 is adjustable against any existing liability, including advance tax payable - NO: ITAT
 
Mumbai, November 13, 2014
ST - Appellant appointed by foreign clients to provide repair & maintenance service during warranty period on their behalf to buyers in India - service qualifies as Export - Appeal allowed with consequential relief: CESTAT
 
Mumbai, November 13, 2014
Cus - Notfn.45/2013 is not clarificatory, hence not retrospective - appellant is not eligible for benefit of exemption from safeguard duty and anti-dumping duty in r/o ex-bond B/E filed on 09/05/2013 although DFIA authorisation was transferred on 09/04/2013- Appeal dismissed: CESTAT by Majority
 
Paris, November 12, 2014
Developing countries to play larger role in G20 efforts to curb corporate tax avoidance: OECD
 
New Delhi, November 12, 2014
Income tax - Whether when assessee executes toll road on BOT basis, same can be treated as 'plant' and depreciation is available - NO: HC
 
Mumbai, November 12, 2014
Income tax - Whether provisions of Section 14A are attracted when investment is made by assessee in foreign subsidiary and dividend received on such investment is not tax free as per Section 10 - YES: ITAT
 
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