News Update

Two separate low housing projects constructed on common land should not be construed as one, so as to disallow statutory relief available u/s 80IB(10): HCGovt approves CPC 2.0; Rs 1.6 lakh crore refund processedWhether if assessee purchaser demonstrates discharge of tax liability to seller, benefit of input tax cannot be deprived to such buyer - YES: HCMumbai DGFT launches Call Centre for FTP queriesIn absence of failure on part of assessee to disclose fully & truly all material facts, assumption of jurisdiction u/s 147 is not permitted: HCST - Notfn. 12/2003 - Abatement available even if same was not separately shown in invoices if verifiable documentary proof was otherwise produced as there was no such condition to show value of same separately in invoices: CESTATTransfer of case to more pronounced location rather than one ordered u/s 127 at request of assessee, is permitted only if relative hardship to taxpayer stands proved: HCCX - Grounds of appeal are beyond the scope of SCN, hence Revenue appeal is dismissed: CESTATInterference by Division Bench in intra-court appeal, would be justified only if order under appeal suffers from patent illegality: HCCus - Diamonds were not presented to proper officer but were found in office of courier company - since the assessee has not done any act towards exportation, sec 113(d) has no application: CESTATOnce surplus generated by educational society stands ploughed back for imparting education, registration u/s 12AA should not be denied to it: ITATCX - When assessee has reversed credit and intimated department, allegation that assessee has suppressed facts with intention to evade payment of duty is unjustified: CESTATCBDT clarifies income tax exemption to disability pension is available to all armed forces personnel irrespective of rankGST - By not reducing pre-GST base price by 9.68% on account of additional benefit of ITC and charging GST at increased rate of 12%, respondent has contravened provisions of s.171 of the CGST Act, 2017 - Profiteering proved : NAAGST - DGAP is under statutory obligation in terms of rule 129 of CGST Rulesto complete investigation in case of receipt of any reference from Standing Committee; subsequent withdrawal is not a legally valid ground to discontinue proceedings: NAAGST - Anti-Profiteering - There is no statutory provision for withdrawal of complaint made: NAAGST Evasion - Govt going to integrate FASTag with e-Way Bill & logistic data servicesCBDT Chairman draws attention of senior officers towards 2600 grievances pending on CPGRAMS & 3400 on e-Nivaran as on June 20, 2019Total number of GSTR-1 as on June 17, 2019 reaches close to 20 Crore + 17.6 Crore GSTR-3BHouse Report - Illicit outflows accounted for 10% of unaccounted incomeKarnataka ULBs tell FinCom NO performance grants being releasedRule 56(j) - Govt further tightens screwsST - WCS were used for maintenance & repair of UPS systems and ACs - are to be treated as Input Services: CESTATTribunal being last fact finding authority should not rest its judgment only on alternative contention raised by parties to litigation: HCCX - Merely because there are certain cash deposits in the account of director of company, it cannot be concluded that these are amounts received from sale of clandestinely removed finished products: CESTATDevelopment of Bundelkhand - Govt setting up Defence Industrial CorridorOnce advances are not made out of interest bearing funds, no disallowance of interest expenditure is permitted: HC
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PRIVACY POLICY

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TIOL website(s) only collect the requisite personally identifiable information that helps it serve its subscribers in offering customized services. Personally identifiable information includes, but is not limited to, first and last name, physical address, e-mail address, phone number, birth date, and any other information that itself identifies or when tied to the above information, may identify an user as a specific individual.

TIOL website(s) do not collect personally identifiable information about its user except when the user specifically and knowingly provides it. TIOL website(s) use personally identifiable information to operate the sites and services and to inform the user of new features and services. The collected and stored information of the users are never meant to be sold to any third-party entiry or intended to be used by TIOL website(s) for any other purpose than as specifically mentioned in this paragraph.

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The kind of information that is gathered automatically include browser type of the user (e.g. Firefox, Safari, Internet Explorer, etc), the Operating System type (e.g. Microsoft Windows, Mac OS, etc.) and the domain name of the Internet Service Provider (e.g. Airtel, Vodafone, VSNL, MTNL, etc.), the date and time of visit and the pages visited.

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