News Update

Income Tax raids TMT Bars manufacturer & a Trust with company in tax havenI-T - High Court need not delve into merits of issue involving transfer pricing adjustment due to factual nature of such exercise: HCOmicron hop-scotches to 50 countries; detected in 16 States in US + Germany warns against travel over winter holidaysI-T - Where complainant is a public servant, period of limitation for filling application against acquittal order is six months and in every other case it is 60 days u/s 378(5) of the Cr. P.C : HCCOVID-19: India reports 2800 deaths with 9000 fresh cases on SundayI-T- Re-issuance of notice already issued by AO having jurisdiction u/s 143(2) and now subsequently transferred to another AO is not required :ITATBiden’s new tax deduction proposal to cost USD 275 bn revenue in next 5 yrsI-T- When AO completed assessment u/s 143(3) making certain addition in respect of unexplained investment he can't reopen the assessment for enhancement of addition merely on basis of report of DVO : ITATOmicron - Initial inputs on severity are quite ‘encouraging’, says Dr Anthony FauciI-T- Revisional proceedings are not rightly held as cash receipts on account of sales cannot be doubted if the assessee has sufficient stock : ITATKarnataka makes both does of vaccine mandatory for visiting malls & cinema hallsGST - 'Baby wipes' are correctly classifiable under heading 3307 and attract GST @18%: AAROmicron may wreck economic recovery ship: IMF ChiefGST - Tax credit of GST paid on leasing of land is not available: AARKerala issues gag order for medical officers interacting with media; formal nod to be obtainedGST - Healthcare service (diamond plan) provided for 20 years for patient and his family members upon payment of lump-sum amount of Rs.10 lakhs is exempted: AARCOVID-19 related restrictions: Protesters pelt stones & firecrackers at police; Earn teargas & water cannons in return in BrusselsGST - Aorom Herbal Smokes are not 'medicaments'' [HSN 3004] but Cigarettes of Tobacco substitutes, classifiable under HSN 2402 9010 and attract GST @28% and Compensation Cess of Rs.4006/- per thousand: AARPortuguese Govt dissolves Parliament; Polls on Jan 30ST - The Tribunal is not empowered to entertain the appeal filed against grant of refund/rebate of Swachh Bharat Cess (SBC) and Krishi Kalyan Cess (KKC) amount: CESTAT

MESSAGE BOARD

   

CBIC - Largest Litigant


Utter disregard for judicial precedents

I think only an exceptionally small number of Authorities under the CBIC, and CBIC itself have any respect for judicial precedents. The rule is to ignore the precedents and merrily pass orders "as deemed fit". A few days back, a client received SCN in a case of interest claim on SAD refund wherein the appellant authority found merit in the case, but remanded. This de novo SCN ignores Ranbaxy Laboratories Ltd v. UOI, 2011 (273) ELT 3 SC which clearly holds that delay in sanctioning refund should be reckoned from the date of filing the initial refund claim. The SCN blandly claims that there was no delay in "processing" of refund cliam. For not following a judicial precedent no officer loses his increment or promotion. So, why bother with it?

Gururaj B N 08/07/2021

 

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