News Update

Pensions Department launches special drive to clear pending matters; Ease of Rule to ensure Ease of LivingUS Federal Trade Commission to file Anti-Trust lawsuit by Sept 26 against Amazon IncGovt, IMF, SARTTAC hosts global seminar on harnessing Digital Public InfrastructureIndia at UNGA - Representative calls on Pakistan to take credible action to prosecute 26/11 plannersLighthouse Festival - Goa Govt aims to highlight historic tourist spotsAzerbaijan annexes Armenian-majority populated Artsakh Republic after 2-day offensive culminating after 10-month blockadeGovt promotes Artificial Reef to rejuvenate coastal fisheries in 10 StatesGST - Cancellation of registration - Taxpayers cannot be continued to be allowed to be vexed by SCNs and orders that provide no reason, whatsoever - Costs imposed: HCCanadian PM escalates row; says Intelligence shared with India weeks ago; US calls for accountabilityGST - Cash did not form part of 'stock in trade' of appellant's business; therefore, could not have been seized - 2000 rupee notes would cease circulation by September end - Cash seized to be released and credited to petitioner's account within five days: HCSunak keen to toss cigarettes out of UKCus - Since the provisions regarding particulars required for assessment has not been declared correctly, they have not complied with Customs law in proper perspective and thus, Section 111 ibid is attracted for confiscation of goods and for imposition of redemption fine: CESTATUS to provide long-range missiles to UkraineCX - Finished goods 'Chewing Tobacco' were not wholly exempted, thus benefit of Notfn 52/2002-CE cannot be denied to demand duty on intermediate product 'Compound' manufactured and captively consumed in manufacture of Chewing Tobacco : CESTATMega fire in Taiwan golf factory; 1 dead & 10 missingST - Activity of transportation of coal from pit-heads to railway sidings within mining areas is more appropriately classifiable under head 'transport of goods by road service' and does not involve any service in relation to 'mining of mineral, oil or gas': CESTATBiden to join striking auto workers to extend supportI-T- The action of the assessee in treating expenditure as deferred revenue expenditure in the books of account will bar the assessee from claiming it as revenue expenditure for the income tax purposes: ITATJD (Secular) joins NDA for forthcoming general electionsI-T- AO was justified in intiating proceedings u/s 147 when there was relevant material to prove that income chargeable to tax has escaped assessment: ITATXi goes for China-Syria ‘strategic partnership’I-T- AO erred in issuing notice for reassessment when AO lacked reasons for reopening assessment : ITATAadhaar not mandatory for electoral rolls, says ECI to SCI-T- PCIT can exercise it's revisional powers u/s 263 in cases where there is no order passed by AO or there is no proceedings under the Ac on which any order is passed : ITATTesla keen on setting up battery storage system in IndiaI-T- AO erred in disallowing assessee's claim disregarding the CBDT Circular which was in favour of the assessee : ITAT
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