News Update

Binance registers with FIU; gears up to resume crypto exchange operation in India200 killed in Afghanistan flash floodsChina supports UN membership of Palestine; urges US not to block processWhere no tax has ever gone beforeNHAI debars Toll Operating Agency for misbehaving with Highway UsersOMCs' FY24 combined profit rises over 25-times year-on-yearTechnology Council reviews status of induction of DRDO technologies into CAPFs, Police & NDRFGovt organizes workshop on Quality Control in Green HydrogenI-T - Assessing Officer cannot deny benefit merely on basis of documentation: ITATWhite House expected to up tariffs on several Chinese goods in coming weekI-T - AO shall grant resultant benefit u/s 50C on sale of immovable property, by taking valuation based on sheet of registrar: ITATJaishankar to take up Kartarpur entry fee of USD 20 with PakistanI-T - Interest income earned by agricultural cooperative society from investment out of its surplus funds is eligible for benefit of Section 80P(2)(a): ITATWHO reports some progress on pandemic treaty but deadline is missedGST - Mens rea to evade tax is essential for imposition of penalty, revenue is directed to refund the amount of tax and penalty deposited by petitioner: HCKCR says regional parties can form Govt at Delhi with outside support from NDA or INDIAGST - When the statute provides for procedure for hearing, Constitutional Courts are duty bound to uphold such procedure and must ensure that meaningful opportunity of hearing must be provided: HCSevere solar storm envelopes earth; may disrupt power grids and communicationsST - As per settled position in law, liability to Service Tax on Works Contract Service could only be after 01.07.2010 - Demand raised for period prior to such date is not tenable: CESTATTrump’s youngest son Barron backs out of Republican Party’s July conventionCus - Regulation 10(n) of CBLR 2013 is not contravened, where broker verified antecedents & correctness of IEC, KYC, GST documents on DGFT, GST & I-T portals, before clearance of goods; revocation of broker's license not tenable: CESTATIndustrial production tapers down to 4.9% in March monthSC grants interim bail to Kejriwal only for poll-related activitiesCX - Provisions for normal period of limitation will be rendered otiose if extended limitation is invoked in cases of assessees operating under self-assessment or if AO invokes extended limitation based on own opinion: CESTATDeath toll in TN cracker unit blast rises to 10CX - Return forms are designed by the Government & not by an assessee - Assessee cannot be faulted for not disclosing any information which was not required to be disclosed: CESTATBJD promises to make Odisha No 1 State by 2036; Manifesto promises AI Univ
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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.