News Update

I-T - Dept. can't restrain/ prohibit taxpayer from claiming Sec 87A by modifying their utility by which such taxpayer is forbidden at threshold itself from making such claim: HCIndia, Indonesia to work together in defence manufacturing, says ModiI-T - Facility to raise claim, which was very much available till certain date, can't be abruptly discontinued simply because revenue officials, acting in their administrative capacities, felt that such claim was untenable: HC4 Addl Judges join Telangana HCI-T - Dept. can't resolve ambiguity in provisions by adopting interpretation favouring itself through device of simply tweaking utility and preventing assessee from even raising claims: HCAmerican SC okays extradition of 26/11 accused RanaCBIC cautions against fake and fraudulent summons for GST violationsTrump Administration officially renames Gulf of Mexico as Gulf of AmericaCX - Parts of railway diesel locomotive are more appropriately classifiable under heading CETH 86079100: CESTATGerman makes new record by living under water for 120 daysDavos: Vaishnaw highlights export-led growth and inclusive developmentAmerica suspends all foreign aid except for Egypt & IsraelCX - In absence of any finding as to intent of suppression, allegation of wilful misclassification and intention to evade duty is not tenable: CESTATTrump calls Danish PM; insists on acquiring GreenlandGeM achieves milestone of processing 49,960 orders in single day100 dead dolphins spotted on Somali coastCX - Once goods are correctly described, bona fide adoption of classification by importer can't be equated with misdeclaration: CESTATMeta to spend USD 65 bn into AI tools in 2025BEE, TERI sign MoU to establish Centre of Excellence on Energy TransitionNice restricts large cruise ships to curb overtourismI-T - Orders passed u/s 147 r.w.s. 144B have not become non-est or invalid order just because AO has accepted returned income: ITATBlast at ordnance factory in Maharashtra’s Bhandara district; 4 persons killed, 5 injuredCoal Secy inaugurates Smart Classrooms under CIL's CSR initiativeR-Day 2025 - 15000 police personnel & 70 paramilitary companies to be deployed for securityColombo revokes power purchase deal with Adani GroupDoT acts on spoofed calls based on reporting by citizens on AppGoI re-iterates willingness to take back Indians over-staying in USA & in other nationsI-T- As per settled position, the AO can only adjust profit margins if comparable businesses show higher profits : ITAT


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Former Prime Minister, Dr Manmohan Singh, delivering his Award Acceptance Speech after receiving TIOL Fiscal Heritage Award 2022 on Nov 8 at Taj Palace, New Delhi



Technical Session I - Ease of Doing Business: GST on Digital Economy