News Update

CPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST -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)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-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 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Ahmedabad, May 16, 2018
I-T - Where Revenue fails to issue reopening notice within four-years limitation, due to shifting of office premises, same cannot be deemed as being based on 'change of opninion': HC
 
New Delhi, May 16, 2018
I-T - Sec 54EC benefits cannot be denied if delay in investment of capital gains was on account of non-availability of tax-free bonds: ITAT
 
New Delhi, May 16, 2018
NDPS - Omission on part of prosecution to produce bulk quantity of seized opium would create a doubt in mind of Court on genuineness of samples drawn from allegedly seized contraband: SC
 
New Delhi, May 16, 2018
Cus - ADD on new/unused pneumatic radial tyres - Categorical conclusion that dumped imports had caused material injury to Domestic Industry cannot be contested either in law or on fact : CESTAT
 
Ahmedabad, May 15, 2018
I-T - Development of housing project does not qualify for full deduction u/s 80IB(10), where utilization of FSI is way short of permissible area of construction & assessee has not made any special ground for under utilization of FSI : HC
 
Ahmedabad, May 15, 2018
I-T - It is mandatory for Settlement Commission to verify actual date of passing of assessment order by AO before proceeding to decide application for settlement of proceedings: HC
 
Ahmedabad, May 15, 2018
I-T - Repudiations by assessee in settlement application by regularly revising income is sufficient to doubt declarations and merits rejection: HC
 
Mumbai, May 15, 2018
ST - Date of filing of refund through ACES should be reckoned as date of filing of refund claim: CESTAT
 
Mumbai, May 15, 2018
CX - Term 'such goods' appearing in Rule 7 are goods which are originally cleared from factory - sale price of plain MS will only apply and not that of ’Speed': CESTAT
 
Ahmedabad, May 14, 2018
VAT - Contractor using self-manufactured inputs in execution of works contract is eligible for composition of tax under state VAT Act: HC
 
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