News Update

CPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Mumbai, December 18, 2017
CX - Predominance principle - Glass fibre vessel is correctly classifiable under CSH 70.14 and not under CSH84.21: CESTAT
 
Hyderabad, December 16, 2017
Income tax - Figures mentioned in loose sheet cannot be automatically treated as incriminating material, for initiating reopening: ITAT
 
Mumbai, December 16, 2017
CX - Revenue failing to cause enquiry to ascertain truth from IT Dept. regarding seizure of document shall not debar appellant from respective claim of CENVAT credit: CESTAT
 
Chennai, December 15, 2017
GST - Nebulous state of affairs - Court fully justified in initiating action for contempt, however, considering sensitivity of matter, is inclined to give one more opportunity to respondent to consider representations and pass orders: HC
 
New Delhi, December 15, 2017
Income tax - Culmination of penalty proceedings cannot be faulted, for lack of absence of cross-examination: HC
 
Ahmedabad, December 15, 2017
Cost recovery charges - When application for exemption is being processed, contention that such exemption even if later on granted, would only be prospective, would be incongruent: HC
 
Mumbai, December 15, 2017
CX –Applicability of rate of duty, merely because it has reference to sale price, does not mandate condition of sale: CESTAT
 
New Delhi, December 14, 2017
Entertainment Tax - When a subsidy scheme was designed to promote capital intensive projects in State, such subsidy is necessarily capital in nature: SC
 
Mumbai, December 14, 2017
Rules 23 to 62 of Bombay Denatured Spirit Rules, 1959 are ultra vires and unconstitutional, hence struck down: High Court
 
Allahabad, December 14, 2017
I-T - Cheque which is subsequently cancelled & returned without encashment, will not constitute 'real payment' and hence will not attract notional provision of Sec 2(22)(e): HC
 
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