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, July 31, 2013
ST – Definition of 'Vocational Training' in Notfn 3/2010 cannot be applied retrospectively - It is impermissible for any authority to enforce provisions to interpret Act by resorting to assumptions - Adjudication order is fallacious, hence quashed: CESTAT
 
Mumbai, July 31, 2013
Cus - Import of GSM Dual SIM Mobile phones having one IMEI number - Customs confiscates as phones do not have two IMEI numbers - since it is not a case of Revenue that mobile handsets are with Zeroes IMEI, import cannot be prohibited: CESTAT
 
New Delhi, July 30, 2013
I-T - Whether money kept in escrow account for a specific purpose can be demanded by Revenue u/s 226 to clear income tax liability - NO: Delhi HC
 
New Delhi, July 30, 2013
CX - CENVAT Credit taken wrongly, not utilised, but reversed - no interest, no penalty: CESTAT
 
New Delhi, July 30, 2013
ST - Applicants charge for arranging tour of sanctuary by vehicles - since they are engaged in business of planning, organizing tours, therefore, prima facie, they are liable to pay ST - Pre-deposit ordered: CESTAT
 
Mumbai, July 29, 2013
ST - Can a works contract be vivisected prior to 01.06.2007 and subjected to levy of service tax under 'erection, installation and commissioning service'? - Matter referred to Third Member
 
Jaipur, July 29, 2013
Can Commissioner having once determined annual capacity of production, on discovery of new and evidence, which assessee failed to disclose, redetermine same? - Tribunal directed to refer this question to HC
 
New Delhi, July 29, 2013
I-T - Whether cess and cess surcharge fall within characteristics of a tax even if they do not become a part of Consolidated Fund of India and it is not allowable u/s 43B - NO: Delhi HC
 
Mumbai, July 29, 2013
ST - Tracking of delivery schedule received from outside India is correctly classifiable under 'Management Consultancy' & not BSS as alleged by Revenue - Appellant entitled to avail 100% CENVAT credit: CESTAT
 
New York, July 28, 2013
World Hepatitis Day: A, B, C, D & E now kill 14 lakh people annually
 
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