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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Dharwad, January 10, 2013
Conclusion by CESTAT that claim of Revenue in demanding reversal of CENVAT credit is premature since inputs were damaged in transit is erroneous as it is a fact that on account of damage caused, inputs cannot be used in manufacture of final product - Tribunal directed to hear matter afresh: HC
 
Bangalore, January 09, 2013
Income tax - Whether while computing exemption u/s 10B, loss arising from non-eligible unit can be adjusted against profits arising on eligible unit - NO: ITAT
 
Mumbai, January 09, 2013
CX - Sec 4 - Applicant, a job worker, receiving compensation on termination of contract with principal - since applicant were paying duty at same price at which principal was selling goods, it cannot be said that termination proceeds is an additional consideration - Stay granted: CESTAT
 
Mumbai, January 09, 2013
ST - Club or Association - Applicant charging registration and subscription fee for providing services of guidance on business matters - Since they themselves are paying tax on club service w.e.f. 1.4.2009 there is no prima facie case in their favour: CESTAT
 
New Delhi, January 08, 2013
I-T - Whether Katha business carried on by assessee can be said to be incidental to attainment of objects of trust for purpose of exemption u/s 11 when object of trust is to advance education, patriotism, Indian culture and dispensaries - NO: Delhi HC
 
New Delhi, January 08, 2013
ST - In relation to immovable property difference between 'renting' and 'leasing' is blurred - Ordinary meaning of 'renting' will not cover long term leasing - Developing township and maintaining municipal functions is not commercial activity of Govt - GNIDA granted stay: CESTAT
 
Mumbai, January 08, 2013
CX - Manufacture - there is no evidence to show that applicants undertook any activity which amounts to manufacture after clearance from Customs - Stay on demand of CE duty of Rs 58 Cr - Revenue seeks modification - since retail price affixed before clearance from Customs and appropriate CVD paid, no ground to modify Stay order: CESTAT
 
New Delhi, January 07, 2013
Income tax - Whether no penalty u/s 271E is warranted when the assessee reimburses money in cash to its Director who has issued cheque from his account to pay rental for company's premises - YES: ITAT
 
Mumbai, January 07, 2013
CENVAT - Consulting Engineering Services used in manufacture of Prototypes which are used in manufacture of MV cleared on payment of duty and also exported – Rule 6(5) of CCR, 2004 excludes 'Consulting Engineer’s services' – Pre-deposit of Rs.157 Crores waived and Stay granted: CESTAT
 
New Delhi, January 07, 2013
When entire order which got issued was not relatable to matter, notwithstanding reference numbers in preamble of same, it has to be held as if entire order was a mistake - ROM application allowed: CESTAT
 
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