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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Mumbai, June 26, 2018
Cus - A person would become 'renowned' after repeated participation in that sports discipline - ordering confiscation of freely importable air gun on the ground that importer was not a 'renowned' shooter is irregular: CESTAT
 
Mumbai, June 26, 2018
I-T - Pro-rata disallowance of 'finance charges' incurred in respect of investments is allowed if, assessee fails to furnish details in respect of investments which earned income & which did not earn dividend income: ITAT
 
Ahmedabad, June 26, 2018
CX - No justification to deny CENVAT credit on capital goods merely because they are installed in sister Unit: CESTAT
 
Kolkata, June 25, 2018
I-T - Additions can be made where CA has prepared balance sheet of taxpayer using utterly bogus figures were furnished only for purpose of availing credit facilities from bank: HC
 
Mumbai, June 25, 2018
I-T - Reassessment notice u/s 148, on ground that original assessment order was not preceded by any queries with regard to subject claim of assessee, is change of opinion: HC
 
Chennai, June 25, 2018
ST - VCES, 2013 - There is no scope for restricting sweep of s. 106(2)(b) of FA, 2013 to an audit in relation to a particular kind of service: High Court
 
Ahmedabad, June 25, 2018
CX - Reversal of credit amounts to non-availment: HC
 
Mumbai, June 23, 2018
I-T - Tax deducted at source on income of charitable trust cannot be treated as taxable income: ITAT
 
Mumbai, June 22, 2018
ST - For any inaction on part of Revenue to submit Final Verification Report, petitioners cannot be made to suffer - matter remanded to Settlement Commission: High Court
 
Ahmedabad, June 22, 2018
I-T - Application of fund for benefit of earthquake victims and its communication to donee before stipulated date, is sufficient for charitable trust to avail benefit of exemption u/s 80G(5C): HC
 
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AR not Afar by SK Rahman



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.