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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New Delhi, May 10, 2018
I-T - If two reasonable constructions of a taxing provision are possible, construction that favours the assessee is to be necessarily adopted: ITAT
 
Chandigarh, May 10, 2018
CX - Allegation is that invoices were arranged for availing Credit - No investigation was done at transporter's end - order denying credit set aside: CESTAT by Majority
 
New Delhi, May 09, 2018
I-T - Declaration of turnover along with service tax received from customers, is mandatory; Failure to deposit same before due date merits additions u/s 43B(a): ITAT
 
Ahmedabad, May 09, 2018
I-T - Settlement Commission cannot apply provision for abatement on assessee's applications without recording reasons attributable for such delay: HC
 
Ahmedabad, May 09, 2018
There is no provision in Income Tax Act which prevents AO from roving inquiry before issue of Sec 147 notice: HC
 
Chandigarh, May 09, 2018
I-T - Information bagged from Investigation Wing need not be construed as borrowed satisfaction once ITO has independently applied his mind based on such information, for invoking Sec 147: HC
 
Mumbai, May 09, 2018
I-T - If disallowance relating to speed money has been restricted to only 25% of expenditure, same is to be complied with even for future cases: ITAT
 
Chandigarh, May 09, 2018
ST - Once it is held that there is no mis-statement while setting aside penalty imposed u/s 78 of FA, 1994, can interest liability be saddled for extended period- Difference of opinion: CESTAT
 
Chandigarh, May 09, 2018
CX - Settled law that choice is available to claimant when more than one exemption is available on same goods – no fault if assessee claims benefit of 56/2002-CE and forgoes 10/2010-CE: CESTAT by Majority
 
Ahmedabad, May 08, 2018
I-T - For claiming deduction u/s 80IA(4), infrastructure development agreement executed by nodal agency of State Govt should be treated to have been entered by State itself: HC
 
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