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Govt emphasizes on steps taken to cut crude oil importsElon Musk claims X (formerly Twitter) being targeted in massive cyber-attackNITI Aayog report highlights measures for swift containment of future pandemicsUS to fine Apple, Meta for contravening provisions of Digital Markets ActGovt lists measures taken for socio-economic & educational empowerment of minoritiesUS – Canada tariff war - Canada’s Ontario province adds 25% tariff on electricity export to USAGovt showcases works of women artisans to mark International Women's DayNew Delhi considers restoring High Commissioners following new PM taking power in CanadaI-T- Assessment proceedings can be continued against a deceased assessee's legal heir only if they are initiated during the lifetime of the assessee: HCWall Street records massive fall amidst uncertainty over Trump administration's tariff wars; over USD 4 Trillion wiped outGST - Suppression of turnover - Assessment order passed without considering assessee's request for adjournment, is invalid: HCI-T - Discrepancies leading to short deduction of tax, which resulted on account of unintentional clerical mistakes, is no basis to levy penalty u/s 271 in absence of any malice: ITATCus - Penalty against customs broker upheld for failing to conduct due diligence on an overvalued and misdeclared import of old clothes: CESTATI-T- Re-opening of assessment would not be permitted for a fishing or a roving inquiry as a part of requirement of main provision of section 147 of the Act: ITATCus - Lauric Acid is correctly classifiable under CTI 2915 90 90; CTI 2915 70 90 favored by importer actually pertains to Palmitic Acid and Stearic Acid, their salts and esters which are entirely different: CESTATI-T - Proof of delivery are irrelevant consideration to test proprietary of source of cash deposits, if neither books were rejected nor cash sales were discredited: ITATCX - The burden is on appellant to prove compliance with Rule 6(2), and failure to provide conclusive proof justified the demand under Rule 6(3): CESTATI-T - PCIT is permitted to exercise his jurisdiction u/s 263 in setting aside assessment order of AO, if same was erroneous as well as prejudicial to interest of Revenue: ITATST - Department failed to correctly assess taxable service value and unjustly confirmed the demand based on Income Tax Form 26AS without considering applicable exemptions: CESTATI-T - If CIT(A) had given categorical finding that all repayments of loans were reflected in bank statement, then AO can't challenge this finding without bringing material to show that said finding was incorrect: ITATCX - Services such as canteen and hospitality services are essential for employee welfare and contributed to efficient production, making them eligible for credit: CESTATI-T - With regard to unaccounted cash payments, if any, recorded against shops purchased by certain persons, then enquiry or action, if any, can be taken on those respective persons only: ITATST - Transportation of RMC rightly classifiable under GTA service ; construction of drain classifiable under CICS rather than Site Formation & Clearance Service or Excavation, Earth Moving & Demolition Services - Demands unsustainable due to invalid classification of activities: CESTATI-T - If creditworthiness of shareholders and genuineness of such credits were not established by assessee, addition u/s 68 is called for: ITAT
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