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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Ahmedabad, December 13, 2012
CX - Penalty & Interest - In SCN, no allegation of any fraud, or suppression of fact or contravention with intent to evade duty has been made - In absence of such allegation, there was no scope of invoking provisions of Section 11AB & 11 AC - Revenue's appeal dismissed: High Court
 
New Delhi, December 12, 2012
Income tax - Whether when assessee lets out building with furniture and fixtures and their maintenance, composite rent received is to be treated as 'income from other sources' - YES: Delhi HC
 
Mumbai, December 12, 2012
CENVAT - Since applicant has not taken credit on input services attributable to trading, they are covered under rule 6(1) and not rule 6(2) - Pre-deposit of Rs 298 Cr waived: CESTAT
 
Mumbai, December 12, 2012
Cus - Commissioner (EP), Mumbai is subordinate to CESTAT in judicial matters - what Commissioner has done is to reconsider an issue which has already been settled in favour of appellant - appeal allowed: CESTAT
 
Mumbai, December 11, 2012
Income tax - Whether when deduction claimed u/s 80IA was subjected to appellate proceedings and finally settled in favour of assessee, reassessment can still be initiated beyond four years - NO: Bombay HC
 
New Delhi, December 11, 2012
Customs - Sec 110A does not absolve or override provisions of Sec 110(2) - Though seized goods are released provisionally under Sec 110A, if no Show Cause Notice is issued within stipulated time under Sec 110(2), goods shall be returned: Delhi HC
 
New Delhi, December 11, 2012
Service Tax - Ship brokers are not Commission Agents: CESTAT
 
Mumbai, December 10, 2012
I-T - Whether when a part of residential property owned by company is occupied by Director and rest by shareholders, such rental income is to be treated as business income in first case and rental income in second - YES: ITAT
 
Mumbai, December 10, 2012
CENVAT Credit - Commercial complex is constructed within factory as per layout submitted to department – Prima facie appellant entitled for Credit of service tax paid on construction of commercial complex – Stay granted: CESTAT
 
Mumbai, December 10, 2012
ST - Promotion of brand - Matter referred to TM - ROM on ground that M(J) had not given findings on issue of export of service, therefore, there is a mistake apparent - since M(J) has given findings on merit, he is not required to address other issues - ROM dismissed: CESTAT
 
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