News Update

I-T- Exemption u/s 10(38) cannot be denied where assessee is not found to have been involved in manipulation of sales scrip & hence proceeds from sale of shares cannot be deemed to be unexplained money: ITATGovt releases Report of India's G20 Task Force on Digital Public InfrastructureCBIC revises tariff value of edible oils, gold and silverI-T- When AO has made proper enquiry then on disputing certain facts and figures from financials alone, assessment order cannot be held erroneous and prejudicial to interest of Revenue : ITATGovt spikes windfall tax on crudeGoyal meets DG, WTO, Indian diaspora & potential investors on first day of Zurich visitTelangana to up backward class quota for local body electionsI-T- Case can be remanded to examine claim of assessee that money belongs to small investors : ITATTrump picks JD Vance of Ohio as his running mate for Vice PresidentGovt releases Draft Procedure for export of sesame seeds to USASuspected serial killer confesses to murder of 42 women in KenyaST - Since the appellant is not liable to pay service tax on Export Pass Fee, Adjudicating authority is directed to grant refund and also interest upon said amount, from the date of deposit till the date of grant of refund @ 12% per annum: CESTATIndia releases USD 2.5 mn to UN Relief Fund for Palestinian refugeesChouhan to inaugurate 96th ICAR Foundation and Technology DayOver 100 students injured in protests against quota system in govt jobs in BangladeshST - Comprehensive training given by appellant enables trainees to appear for examination conducted by IRDAI, hence would be entitled for exemption under Notfn 09/03-ST and falls squarely in definition as provided by Notfn 09/03-ST and 24/04-ST : CESTATCBI books former Chairman of Chhattisgarh Public Service Commission over alleged nepotism chargeCus - 'Accordion Springs' imported by appellant are neither helical springs nor leaf springs and are a category of springs in themselves which are sold as 'Accordion springs' only, therefore, same falls under Customs heading 7320 90 90 'Other' : CESTATFrench anti-trust body initiates probe into NvidiaCus - When CRCL test report favors the importer, there is no requirement for importer to produce evidence contrary to test report; Department ought not to have re-determined classification to levy Anti Dumping Duty; laminate flooring made of fibre board rightly classified under CTH 4411: CESTATSC to set up Constitution Bench to hear plea alleging normal bills being passed as money billsCX - The credit claimed and availed by taxpayer is in accordance with law as applicable during year under dispute and therefore denial of same was uncalled for: CESTATUS Court tosses out classified document case against TrumpCX - Appellant be given a fair chance by communicating quantum of interest payable and in event appellant discharges interest amount within 30 days, benefit of reduced penalty of 25% under Section 11AC(1)(c) may be extended: CESTAT
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