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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New Delhi, March 14, 2014
Income tax - Whether a co-developer of Special Economic Zone qualifies to be a developer for the purpose of claiming benefits u/s 115JB - YES: ITAT
 
Mumbai, March 14, 2014
CX - Mandatory penalty u/s 11AC is attracted only when allegations of fraud with intent to evade duty against respondent are invoked in SCN - understanding of AR is not correct - Revenue's appeal dismissed: CESTAT
 
Geneva, March 13, 2014
Agreement on Govt Procurement: Revised WTO pact to come into force on April 6
 
Hyderabad, March 13, 2014
Income tax - Whether, for purpose of depreciation, wind electric generators are to be treated at par with wind mill - NO: ITAT
 
New Delhi, March 13, 2014
ST - It would be absurd to allege that Govt body which is involved in welfare of poorer sections of society of having evaded tax by taking recourse to fraud - no penalty: CESTAT
 
Nainital, March 13, 2014
CX - Assessee's dues cannot be recovered from properties of appellant, who purchased it in auction - In law, a person cannot be remediless, particularly in matters, which is void ab initio from day one - If action complained of is non est, same can be challenged even after 100 years in writ: HC
 
New Delhi, March 12, 2014
ST - activity of site formation, excavation of top soil and overburden has to be treated as activity ancillary to mining and since overall contract is for mining and as such it is an indivisible contract - Demand for period 16/6/05 to 31/5/07 set aside: CESTAT
 
New Delhi, March 12, 2014
Income tax - Whether return of fund received by assessee from Central Govt towards equity but no shares allotted and interest was paid on same, can be construed as business expenditure - YES: Delhi HC
 
Mumbai, March 12, 2014
Settlement - A course of settlement is available only where petitioners on their own want to make clean breast of their affairs and not where petitioner wants to resist notices by challenging several statements relied upon by Revenue - Petition dismissed: HC
 
Chennai, March 11, 2014
Cus - Appeal against orders of Tribunal - SCN issued by Vizag Customs - Order passed by Appellate Commissioner at Hyderabad - Next Appeal passed by CEGAT, Chennai - Appeal lies to AP High Court and not Madras High Court
 
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Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.