News Update

CBIC revises tariff value of edible oils, gold & silverFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCentre receives Rs 18.5 lakh crore tax revenue upto Feb monthUN says Households waste across world is now at least one billion meals a dayExpert Committee on developing GIFT IFSC as 'Global Finance and Accounting Hub' submits report to IFSCAIndia, China hold fresh dialogue for complete disengagement on Western borders: MEADefence Production issues notification for re-organisation of DGQAThakur says India is prepared for 2036 OlympicsCBDT substitutes Form in ITR-5EV Revolution: Lessons for India to learn from US and China!London court green-signals auction of luxury apartment of fugitive Nirav ModiGovt consults RBI; finalises borrowing plan for first half of FY 2024-25Gadkari says Farmers’ protest is politically-motivatedVP calls upon women entrepreneurs to be 'Vocal for Local'America offers USD 10 mn bounty for information on ‘Blackcat’ hackers after UnitedHealth gets hitI-T- The order of the ITSC can only be reopened in cases of fraud or misrepresentation: HC8 persons including Hezbollah militants killed in Israeli strike on LebanonMacron pillories EU-South Africa trade deal; calls it ‘really bad’ in BrazilThailand’s Lower House okays Bill to legitimise same-sex marriageYellen warns China against clean energy dumpingMilky Way’s central black hole - Twisted magnetic field observedCus - Assessee has not proved beyond reasonable doubt that goods in question imported under air way bills/bills of entry were in fact filed by him and hence the only natural corollary available to Revenue is confiscation of same: CESTATSmall investors help Trump Media’s valuation skyrocket to USD 13 billionJustice Ritu Raj Awasthi joins as Judicial member of Lokpal
 
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Mumbai, September 09, 2017
Cus – There should be fair trial to find truth since trial is voyage to discover truth & render justice – highhandedness of officers who acted whimsically to deny second test deprecated: CESTAT
 
Chennai, September 08, 2017
ST - Charges collected from a/c holders for cheque return, Minimum balance violation & non-maintenance of average balance are not penalties - rightly chargeable to tax: CESTAT
 
Kolkata, September 08, 2017
I-T - Deductions allowable under Ss 10A & 10AA should be computed at stage of aggregation of 'gross income' and not 'total income': ITAT
 
Mumbai, September 08, 2017
ST – Respondent is only providing platform for facilitating e-commerce trading facility – not OIDAR: CESTAT
 
New Delhi, September 08, 2017
CX - If Sett. Comm. opines that dispute cannot be settled, it has absolute discretion to refer matter to AA: HC
 
Hyderabad, September 08, 2017
Cus - No samples were drawn by authorities and no analysis was done at CRCL - classification cannot be changed: CESTAT
 
Mumbai, September 07, 2017
NDPS – No prejudice caused if Advocate is permitted to remain present at safe distance but not within hearing distance, during interrogation: HC
 
Ahmedabad, September 07, 2017
I-T - When assessee pays interest on borrowings & also earns taxable interest on investments, interest expenditure is to be treated as one and it is to be net of interest paid minus interest earned: HC
 
New Delhi, September 07, 2017
I-T - Mere complaint in form of 'Tax Evasion Petition' will not constitute 'tangible material' for reopening: HC
 
Mumbai, September 07, 2017
CX - Appellant recovering amount paid for rent-a-cab from employees clearly means that service was availed by employee for personal use : CESTAT
 
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