News Update

GST - 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: HCGST - 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and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST -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)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-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 dronesFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Kolkata, October 09, 2017
I-T - Minor defect in Form 3CM cannot be adopted as basis to deny weighted deduction on R&D expenses, once research facility is approved by DSIR: ITAT
 
Mumbai, October 09, 2017
ST - Transportation is most prominent element of composite contract - GTA classification cannot be faulted: CESTAT
 
New Delhi, October 09, 2017
CX - Switchgears sold in numbers, hence, even if weighing over 25 kg each not exempted under SWAM - S. 4A correctly applied: CESTAT
 
Ahmedabad, October 07, 2017
ST –90% of water supplied through pipeline was to Panchayats at non-commercial rate – no profit motive – not taxable under CICS: HC
 
Kolkata, October 06, 2017
Cus - Drawback - Regulation 6A does not make it mandatory for a unit located in a SEZ to open a Foreign Currency Account: High Court
 
Mumbai, October 06, 2017
I-T - When delay of over 8 years in filing appeal is attributable to wrong professional advice, it can be said that reasons were beyond assessee's control and condonation is justified: HC
 
Mumbai, October 06, 2017
CX – Motors, generator, engine, remnant oil arise during breaking up of ship - sale of these cannot be considered as trading activity - rule 6 of CCR, 2004 cannot be invoked: CESTAT
 
Kolkata, October 06, 2017
I-T - When employer-employee relationship is not there, payments made to consultant doctors not liable to provisions of Sec 192: ITAT
 
New Delhi, October 06, 2017
CX - Goods cleared under exemption to a project financed by ADB are not specified in EXIM policy as 'deemed exports'– no refund u/r 5 of CCR : CESTAT
 
New Delhi, October 06, 2017
ST - Transportation charges received should form part of the consideration for C&F service and cannot be separately charged to tax under GTA: CESTAT
 
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