News Update

I-T - Bonafide claim of deduction by assessee which was accepted in first round of proceedings does not tantamount to furnishing of inaccurate particulars, simply because it was disallowed later: ITATIndia-bound oil tanker struck by Houthi’s missiles in Red SeaSCO Defence Ministers' Meeting endorses 'One Earth, One Family, One Future'RBI issues draft rules on digital lendingI-T - In order to invoke revisionary jurisdiction u/s 263, twin conditions of error in order and also prejudice to interest of Revenue must be established independently: ITATCRPF senior official served notice of dismissal on charges of sexual harassmentIndian Air Force ushers in Digital Transformation with DigiLocker IntegrationColumbia faculty blames leadership for police action against protestersCX - When process undertaken by assessee does not amount to manufacture, even then CENVAT credit is admissible if such inputs are cleared on payment of duty which would amount to reversal of credit availed: CESTATGoogle to inject USD 3 bn investment in data centre in IndianaCus - The equipments are teaching accessories which enable students in a class to respond to queries and these equipments are used along with ADP machine, same merits classification under CTH 8471 60 29: CESTATUN says clearing Gaza mounds of rubble to take 14 yrsST - When issue is of interpretation, appellant should not be fastened with demand for extended period, the demand confirmed for extended period is set aside: CESTATBlinken says China trying to interfere US Presidential pollsWorld Energy Congress 2024: IREDA CMD highlights need for Innovative Financing Solutions
 
Page 100
Mumbai, April 20, 2018
CX - General practice amongst masses to not consider trading as an 'exempted service' till amendment was made in CCR - assessee had no malafide intention to avail undue benefit: CESTAT
 
Vizag, April 20, 2018
I-T - Mere projection of profit statement found in loose sheets from taxpayer's premises, is no basis for levying penalty in his hands: ITAT
 
Bangalore, April 20, 2018
CX - Assessee taking credit on rejected goods, recycling same and paying duty on clearance – alleging that credit has been availed irregularly is unsubstantiated – no question of double duty : CESTAT
 
Chennai, April 20, 2018
I-T - Payments made to founder or relative of trust, if credited to trust's account immediately without taking any undue benefit from it, will not upset exemption benefit u/s 11: ITAT
 
Mumbai, April 20, 2018
CX – Mere reiteration of order of penalty imposed by original authority, who had jurisdiction, by first appellate authority, who lacked jurisdiction, does not cause grievance to appellant at that stage: CESTAT
 
Mumbai, April 19, 2018
VAT - Reimbursement received by dealer for supply of spare parts to its customers under warranty period, are liable to VAT under Maharashtra VAT Act: HC
 
New Delhi, April 19, 2018
I-T - Where Revenue detects massive tax evasion through bogus bills, it cannot wash hands of it through mere additions: ITAT
 
New Delhi, April 19, 2018
I-T - Failure to explain scientific method in determining the amount of performance bonus payable to employees can lead to its disallowance : ITAT
 
Chennai, April 19, 2018
ST - Demand of differential amount of service tax alleging that entire amount collected by PCO operator is subject to levy of service tax cannot sustain for period prior to 01.03.2011: CESTAT
 
New Delhi, April 19, 2018
I-T - Non-obstante provisions of Ss 153A & 153C do not override mandatory provisions of Sections 142(2) & (143(2): HC
 
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