News Update

PM appeals to all MPs - Let’s work unitedly for IndiaAppeal on Denial of Cross ExaminationBiden decides to exit Presidential race; backs Kamala Harris as party nomineeIncome-Tax conducts Taxpayers Outreach Program at RINL, VizagNippon Steel hires Mike Pompeo to lobby for US Steel purchaseScindia releases 'The Future is Now' as theme for India Mobile Congress 2024Houthis vow massive retaliation strike at IsraelDigboi Refinery capacity to expand to 1 Million Tonnes: SonowalChina, Philippines arrive at understanding in South China Sea disputeCentre discusses draft rules for measuring moisture level in cereal grains and oilseedsChina cuts interest rate to revive economyIndia Post recommends international Rakhi shipments by 31st JulyMega wildfire in Alberta & British Columbia in CanadaI-T- Re-assessment proceedings are invalidated where mandate of Section 148A is not satisfied, in the sense that less than 7 days' time is provided for filing reply to SCN: HCResidents in Spanish town protest against mass tourismI-T-Re-assessment order is invalidated where passed in the name of a non-existent entity which ceased to exist on account of amalgamation: HCBangladesh Court strikes down quota in govt jobsI-T-Re-assessment is invalidated where based on change of opinion: HCKerala boy infected by Niaph virus is dead: Health MinisterI-T- Since mistake made is subsequently rectified, addition made u/s 68 is not justifiable: ITATIraq to buy electricity from Turkey for northern provincesI-T- Invoking Section 144 of the Act is improper when assessee has filed a return of income and complied with the notices : ITATKarnataka HC recalls order stating only watching pornography is no offence under I-T ActI-T- Mere suspicion or conjecture is not sufficient to sustain an addition u.s 69A of the Act : ITATIsrael strikes at ammunition depot of Hezbollah in Lebanon & Houthis’ port in YemenI-T- Assessment order passed on best judgment basis is upheld where assessee fails to discharge onus of proving its claims through cogent evidence: ITATTrump says Xi Jinping sent to him ‘beautiful note’ after assassination bidI-T- Disallowance in excess of exempt income cannot be sustained under Section 14A of the Act: ITATSales Tax - AO can re-open assessment proceedings for the relevant period, where no permission for such exercise was taken from the Sales Tax Appellate Tribunal: HCPakistan’s debt burden to top USD 284 billion by June 2025Cus - Once the classification is decided under CTH 3902, sub heading notes becomes relevant for classification within the heading 3902, question of change of classification from CTH 3902 to 3906 on strength of sub-heading note does not arise: CESTATOver 1000 Indian students back from violence-soaked BangladeshCus - Once CA certificate is produced and in absence of any allegation of fraud or collusion, such certificate is sufficient to grant the refund claim: CESTATBihar cops seize huge quantity of Nepali liquorST - Electricity charges were being collected on actual basis and being submitted to electricity department, same cannot be liable to service tax: CESTATUPI adding 60 lakh new users every monthCX - Revised return is to be filed electronically and requirement of law is filing of revised return within time which the appellant has done, therefore refund is duly admissible to appellant especially when substantial conditions have been fulfilled : CESTAT

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Dr. Shailendra Kumar, Chairman, TIOL Knowledge Foundation, addressing the gathering



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