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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New Delhi, March 20, 2014
CX - Printing of laminated & unlaminated poly films - Whether amounts to manufacture - Matter referred to Third Member for deciding quantum of pre-deposit
 
Mumbai, March 19, 2014
ST - Water Resources Department is not commissioning agency as they do not undertake activity 'Erection of sluice gates in agricultural dams' for anybody else except themselves - Appeal allowed: CESTAT
 
New Delhi, March 19, 2014
Income tax - Whether when excise duty liability is that of contract manufacturers, same can be taken over by assessee as matter of commercial expediency and can also be treated as revenue expenditure - NO: ITAT
 
Ahmedabad, March 19, 2014
CX - Rebate - One cannot view statutory limitation leniently so as to bring through backdoor concept of sufficient cause flowing from Sec 5 of Limitation Act - Petition dismissed: High Court
 
Bangalore, March 18, 2014
Service Tax - Infosys wins Rs 160 Crores case in CESTAT
 
Mumbai, March 18, 2014
Income tax - Whether when assessee fails to prove that its income was below taxable threshold, AO can make estimation on basis of average of income declared in preceding and in succeeding AYs - YES: ITAT
 
Mumbai, March 18, 2014
CX - Exemption - Notfn 12/2012 - Since in Annexure to Project Authority certificate, appellant's name figures as sub-contractor, condition that goods should be supplied against ICB procedure is clearly satisfied: CESTAT
 
Mumbai, March 17, 2014
Withdrawal of pre-2005 banknotes only because of fewer security features; exchange to be done till Jan, 2015: RBI
 
New York, March 17, 2014
Child-trafficking on the rise: UN Expert
 
Rome, March 16, 2014
FAO Study reveals rise in incidents of genetically modified crops in traded food
 
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