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Sunday , November 23, 2014 | Updated : Nov 23, 12:58 IST
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NEWS FLASH
 
Smart commitment for smart cities - USA, Japan, Singapore & Barcelona come forward to work on projects (See 'Breaking News') I-T - Whether income on letting out of property is to be assessed as income from house property when assessee's business was in real estate: HC (See '2014-TIOL-2026') CBI Court convicts two RBI officials in corruption case (See 'Mixed Buzz') ST - Delayed filing of appeal - Date of service of appellate Commissioner's order on appellant is under dispute - appeals rejected as time barred: CESTAT (See '2014-TIOL-2323') Emission gaps to widen by 2030 but low carbon path offers opportunities for future: UN Report (See 'Breaking News') CCI invites comments from public on proposed merger of Holcim and Lafarge (See 'Mixed Buzz') CCI invites comments from public on proposed merger of Holcim and Lafarge Anti-malarial drugs, diagnostics etc. cleared for Intensified Malaria Control Project exempted from CE & Customs duty (See 'Notifications in 'What's New') Jurisdiction of HC - Even Writ Petitions are not maintainable if dispute relates to determination of rate of Duty or Tax or value of goods: HC (See 'Breaking News') Govt extends anti-dumping duty on DVD-R & Diclofenac Sodium for five years (See Notifications in 'What's New') I-T - Whether Salt which is manufactured from sea water falls within definition of mineral & assessee is entitled for deduction u/s 80HHC: HC (See '2014-TIOL-2015') Taxation of Software, the impasse goes on… (See 'ST se GST tak' Column) SEZ - None can continue much less squat on public properties either by taking advantage of any inaction of public bodies or statutory authorities or by colluding with them - Petition dismissed: HC (See 'Breaking News') Gloomy future lies ahead for global shipping industry: UNCTAD (See 'Mixed Buzz') ST - Revenue appeal contending penalties is allowed by Tribunal and sustained by High Court – Writ against recovery - Petitioner directed to pay Rs 31 lakhs and recovery of balance amount is kept in abeyance: HC (See '2014-TIOL-2020') I-T - Whether when a sum eligible for deduction u/s 40A is deposited in bank account by account payee cheque, same is liable to be disallowed merely on the ground that it was deposited in cash: HC (See '2014-TIOL-2017') Railways to set up windmill farm in Rajasthan (See 'Mixed Buzz') US President Obama accepts PM's invitation to be R-Day Parade Chief Guest UN Chief welcomes pledges of more than USD 9.3 bn to Green Climate Fund (See 'Mixed Buzz') RBI directs banks to give one month notice to customers before levying penal charges on non-maintenance of minimum balances in savings accounts (See RBI Notification in ‘FEMA’) ECB Policy amended: RBI allows six months parking of proceeds abroad (See Cir 39 in 'What's New') Black Money can destabilise world peace: Prime Minister China cuts interest rate to boost up growth rate Govt to spend Rs 25300 Crore to curb open theft of power US Govt extends legal status to 50 lakhs illegal immigrants I-T - Whether when assessee receives refundable advance as per MoU for joint development of land, such sum is capital receipt, not taxable in the hand of assessee - YES: ITAT (See 'Breaking News') Tribunal has no power to direct pre-deposit while remanding a case - logically question of deposit does not arise unless there is an adjudication: High Court (See 'DDT' Column) NASSCOM is not liable to pay ST under category of Club & Association service in respect of subscription amount charged from members: CESTAT (See 'Breaking News') Mandatory Deposit - Love it or hate it, but learn to live with it! (Part II) (See 'Guest' Column) Cus - Recovery of incineration charges for destruction of goods as per SC order - there is no provision for grant of stay by CESTAT or for that matter under Customs - Tribunal has no jurisdiction whatsoever: CESTAT (See 'Breaking News') NRIs - Acquisition/Transfer of Immovable property - Payment of Taxes - RBI clarifies (See 'DDT') Whether Assessees can be compelled for payment of tax at revised compounded rates when choice of assessee, as to manner of payment of tax, was based on particular provision of law as it stood at time of exercise of option, and that basis was thereafter changed: HC (See '2014-TIOL-2009') SEZ Vizag needs a Development Commissioner (See 'DDT') Cabinet endorses SAARC Rail Network, Motor Vehicle Agreement and pact for energy cooperation (See 'Breaking News') SC directs CBI Director to recuse himself from monitoring of investigations in 2G Scam Export of software & services - Repatriation of exports proceeds - RBI extends period to nine months (See 'RBI Cir' in What's New) FM directs bankers to hike flow of credit (See 'Mixed Buzz')
 
   
DDT (Daily Dose of Taxation)

Tribunal has no power to direct pre-deposit while remanding a case - logically question of deposit does not arise unless there is an adjudication - HC

With VIJAY KUMAR

Tribunal has no power to direct pre-deposit while remanding a case - logically question of deposit does not arise unless there is an adjudication - HC
Published: November 21, 2014

View previous DDTs »

WHAT'S NEW
CUS
:
Not 32 NT111 Cir 13
ADD
:
44, 45 Inst: 08 SG: 03
EX
:
Not 23 NT 31 Cir 990
S.TAX
:
Not 22 Cir 180 Order
I-T
:
Not 71 Cir 16 Press Note
DGFT
:
Not 99 PN 75 Cir 13
RBI
:
Cir 39,40    
BREAKING NEWS

New Delhi, November 23
Smart commitment for smart cities - USA, Japan, Singapore & Barcelona come forward to work on projects

New York, November 23
Emission gaps to widen by 2030 but low carbon path offers opportunities for future: UN Report

Chennai, November 22
ST - Jurisdiction of High Court - Even Writ Petitions are not maintainable if dispute relates to determination of rate of Duty / Tax or value of goods - High Court

Mumbai, November 22
SEZ - None can continue much less squat on public properties either by taking advantage of any inaction of public bodies or statutory authorities or by colluding with them - Petition dismissed: High Court

Mumbai, November 21
Income tax - Whether when assessee receives refundable advance as per MoU for joint development of land, such sum is capital receipt, not taxable in hand of assessee - YES: ITAT

MIXED BUZZ
XCuSE Updates
XCuSE
PUZZLE TO DAZZLE
Punit Vedby PUNIT PAVAN VED CA

Whether excess municipal tax paid than necessary is allowable on payment basis while computing income from house property.

Published: November 17, 2014

Post Answer »
THE COB (WEB)
G20 Summit - Is it the Making of a New International Taxation Order?by SHAILENDRA KUMAR

G20 Summit - Is it the Making of a New International Taxation Order?
Published: November 20, 2014

View previous 'The COB(Web)s'»
TIOL EDITORIAL
Let growth & jobs drive the changes in taxes & expenditure in 2015-16 Budgetby TIOL EDIT TEAM

Don't deride CAG to safeguard Executive from its largely valid criticism
Published: November 15, 2014

View previous Editorials»

ICE CUBES
by NARESH MINOCHA Modi Govt falters on growth & employment front

Modi Govt falters on growth & employment front
Published: November 18, 2014

View previous ICE CUBEs »

GUEST COLUMN

Mandatory Deposit - Love it or hate it, but learn to live with it! (Part II)by SHAILESH SHETH

Mandatory Deposit - Love it or hate it, but learn to live with it! (Part II)
Published: November 21, 2014

View previous Guest Column(s);

ST se GST tak

Inward remittance - Service Tax liabilityby LUKOSE JOSEPH & ANIL P NAIR

Taxation of Software, the impasse goes on…
Published: November 22, 2014

View previous ST se GST tak(s)»

View 'ST - New Law +VE or -VE' Articles»

 
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