News Update

GST Compensation - Centre borrows Rs 6K Crore for 16 StatesRe-opening of assessment is unwarranted when there is no failure on part of assessee to make full & true disclosure of material facts: HCPM to meet CEOs of Global Oil & Gas CompaniesAdditions framed based on cancelled money receipt found in course of Search proceedings, are unsustainable, where not corroborated by any evidence: ITATPayment made through banking channels is insufficient to establish genuineness of the transaction in respect of which such payment is made: ITATExemption granted u/s 10(23C) to an educational institution cannot be revoked where it is not established that such institution functioned with profit motive: ITATCus - Case remanded for reconsideration where Adjudicating Authority passes contradictory order remanding the matter due to infringement of principles of natural justice, while concurrently enhacing value of the subject goods as per CVR 2007, with assigning any reasons: CESTATCX - CENVAT credit of additional duty of customs paid on imported goods under Customs Notification 12/2012 dated March 17, 2012 is available for credit - Commissioner has mixed up rule 3(1)(i) and rule 3(1)(vii) of CCR: CESTATST - OIDAR - Ad-hoc Exemption Order will be applicable even if the demand is in respect of imported services since the Appellant is deemed to be a service provider u/s 66A of FA, 1994: CESTATFATF decides to keep Pakistan in grey listNTPC allowed to use drones for research and inspection of Power ProjectsIndia crosses landmark of 10 crore COVID-19 testsCBIC notifies Customs Authority for Advance Rulings in Delhi and MumbaiCus - Whether benefit u/s 28(2) is available - It is certainly not appropriate for the Bench to go into disputed questions of facts in writ proceedings: HCCus - Seizure of areca nut - 'Reasons to believe' must be based upon acceptable materials, which have to be more than a moonshine: HCCus - Betel Nuts - Reasons given for seizure fail the test of 'Wednesbury principles' as no reasonable person can reach a conclusion about country of origin upon examination by naked eye: HCCBDT posts Sukhad Chaturvedi, IRS & Bhanu Pratap Singh, IRS as OSDs in FT&TR Division (See 'http://taxindiainternational.com/index.php')CBDT diverts DC-level post from Hyderabad to Bengaluru APA (See 'http://taxindiainternational.com/index.php')CBDT issues details Instructions for filing ITRs for AY 2020-21Income tax raids 15 places in Srinagar and DelhiIRS officer Amit Gupta goes to Uttarakhand Govt as Advisor, SGSTLate fees u/s 234E cannot be levied when processing TDS statements for a period when enabling provisions were not in effect: ITATPenalty order issued u/s 271(1)(c) merits being quashed where it does not specify as to which sub-section has been invoked to initiate such proceedings: ITATTo boost shipbuilding in India, Govt amends Right of First Refusal licensing conditionsAdditions framed by AO are unsustainable where based on apprehension of assessee having unauthorisedly claimed deduction u/s 36(1)(vi) twice: ITATCBDT notifies minor amendments in sub-rule (2) of Rule 67G-20 Anti-Corruption Working Group - MoS reiterates India's zero telerance policyJoe Biden promises Commission to recommend changes to Supreme CourtBihar Polls - BJP manifesto promises 19 lakh jobs + free-vaccination for COVID-19 + lentils under MSPTax Returns & Politicians - They necessarily make quaint & strange bedfellows!
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