SIGN IN SUBSCRIBE

News Update

CBDT invites inputs for comprehensive review of Income-tax ActAdani Group negotiating takeover deal with Heidelberg’s cementIndia-UAE BIT comes into effectNobel Prized in medicine for 2024 goes to American scientists for microRNA discoverySAI to develop National Centre of Sports Excellence in MumbaiVietnam Q3 GDP spirals by 7.4%Rs 1,000 cr earmarked for Venture Fund to Space StartUps, says MinisterI-T - Capital gains u/s 50 arising out of sale of long term capital assets, shall be taxable at 20% rate u/s 112: ITAT SBIs it 'plant and machinery' or 'plant or machinery'?Undervaluation of Imported Aluminium Scrap (Part 3 of series)Indian solar suppliers substitute tossed out Chinese players in US supply linePrivacy in Peril: Have We Forgotten Our Rights?New Trumpian threat: 200% tariff on vehicles imported from MexicoI-T- Writ petition filed before exercising option of rectification petition, is premature: HCRG Kar case: 10 Docs aligned to former Principal tossed out of hospitalI-T- If at all there is some disallowance/adjustment in a year, same should be adjusted with the available brought forward business loss of the assessee: ITATMedical emergency: London-heading Air India flight stops over in DenmarkJaishankar says AI can be as fatal to world as N-weaponsCus -SAD refund - Date of making refund application would be required to be considered from date of final assessment and not from date of payment of provisional duty: HCTraumatised by Helene, Florida laces up for major hurricane MiltonGST - Non-payment of dues for a period of three months is not a prescribed ground u/s 29 and/or u/r 21 for cancelling the petitioner's GST registration: HCChinese hackers hack into US court-sanctioned wiretapping serverDrugs & raw materials worth Rs 1800 Cr seized in Bhopal; Two arrestedDRDO successfully flight-tests 4th Generation Air Defence System

MESSAGE BOARD

   

CX - Short payment of duty of Rs 6158 & duty demand of Rs 457 Cr by invoking rule 8(3A) of CER, 2002 - law does not care for trifles - Revenue interpretation may lead to position of chaos rather than harmony and certainty: CESTAT


Godzilla demand of excise duty

Ref: DDT dated 19-12-2014. The CESTAT has set aside the demand but the adjudicating authority (Commissioner) must have shown the said adjudication in his performance report. There should be some sort of accountability and the Commissioner concerned should be directed to defend the Department before the CESTAT in such cases. This is a huge wastage of valuable resources of the nation but Departmental Officers are rewarded, not penalized, because such cases pave the way for the creation of Tax Recovery Cell (TRC). This type of approach has been the foundation stone of the recent restructuring of the Department.
**Shashwat Jain

shashwat jain 19/12/2014

 

Back

TIOL Tube Latest

TIOL Tube
Mr Larry Summers, Former US Treasury Secretary addressing at TIOL Fiscal Awards 2024 after being conferred TOL Kautilya Global Award 2024 by Deputy Chairman of Rajya Sabha, Shri Harivansh Narayan Singh.

TOP NEWS


AR not Afar by SK Rahman

VISION 360



Dr. C. Rangarajan, former Governor of RBI, addressing at TIOL Fiscal Awards 2024 after being conferred TOL Kautilya Global Award 2024 by Deputy Chairman of Rajya Sabha, Shri Harivansh Narayan Singh.

TII LATEST

TIOLCORPLAWS LATEST