News Update

Income 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)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-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 dronesFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Mumbai, May 31, 2014
Cus - Notfn 102/07 - Refund - without effecting sale amount of SAD refund available is not known to applicant-Commr(A) observing that in ledger a/c SAD is shown as recoverable and hence refund is not admissible is incorrect: CESTAT
 
Mumbai, May 30, 2014
ST - Tax paid with interest before SCN - appellant should have been given option to pay 25% of duty as penalty - also simultaneous penalties cannot be imposed under Ss 76 & 78 - penalty u/s 76 dropped: CESTAT
 
Ahmedabad, May 30, 2014
ST - Penalty - proviso inserted in s.78 has prospective effect - Penalties under Ss 76 and 78 are imposable simultaneously for failure to pay service tax for period prior to 10.05.2008 although SCNs were issued in year 2010/2011: CESTAT
 
Jodhpur, May 30, 2014
Income tax - Whether surplus arising on sale of agri land gives rise to agricultural income within meaning of sec 2(1A) read with Explanation (1) of Sec 2(14)(iii) and consequentially exempt u/s 10(1) - YES: ITAT Third Member
 
New Delhi, May 30, 2014
ST - legislation is not rejected or amended by private agreement - order passed in arbitration proceedings cannot shift liability or inherence of service tax under provisions of FA, 1994 on service recipient - appeal rejected: CESTAT
 
Chandigarh, May 29, 2014
ST - Once pre-deposit of principal liability was stayed it would not be proper to direct that entire interest component on service tax assessed be deposited as condition precedent for hearing of appeal : High Court
 
Ahmedabad, May 29, 2014
Cus - Penalty - Action of importers to purchase demand draft from fraudster can at most be an act of erroneous business diligence - having paid duty with interest on all goods, question of levying penalty does not arise: CESTAT
 
New Delhi, May 29, 2014
I-T - Whether when assessee is school certificate examination body, mere hike in fees to general surplus would exclude it from ambit of Sec 10(23)(vi) - NO: HC
 
Guwahati, May 29, 2014
CX - Dismissal of appeal by Tribunal - although proper remedy is to file an appeal u/s 35G rather than Writ Petition, nonetheless since both can be filed in High Court not much significance is attached to this technicality: High Court
 
Chennai, May 29, 2014
CX- Appeal is maintainable before Tribunal against an order passed by Commissioner(A) dismissing appeal for non-compliance of stay order - matter no longer res integra : CESTAT
 
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