News Update

Unveil 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 dronesI-T- Secured creditor has priority charge over secured asset, over claims of I-T Department & other Departments; any excess amount recovered by Secured Creditor from auction of secured asset, over & above the dues payable to it, are to be remitted to the Departments: HCFederal 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 damagesI-T - Once assssee on year of reversal has paid taxes on excess provision and similar feature appeared in earlier years and assesee had payments for liquidated damages on delay of deliverables, no adverse inference can be drawn: HCFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerST - Software development service & IT-enabled service provided by assessee was exempt from tax during relevant period, by virtue of CBEC's Notification & Circular; demands raised for such period not sustainable: CESTATUN says Households waste across world is now at least one billion meals a dayCus - Order rejecting exporter's request for conversion of Shipping Bills on grounds that the same has been made by exporter beyond period of three months from date of Let Export Order in terms of CBEC Circular No. 36/2010-Cus : CESTATIndia, China hold fresh dialogue for complete disengagement on Western borders: MEACus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTATThakur says India is prepared for 2036 OlympicsCX - As per settled law, a right acquired as result of a statutory provision, cannot be taken away retrospectively unless said statutory provision so provides or by necessary implication has such effect: CESTAT
 
Page 190
Mumbai, July 21, 2017
CX - No demand by Commissioner (A) - Appellant to make pre-deposit of Rs 2 lakhs for registering appeal: CESTAT
 
Ahmedabad, July 20, 2017
I-T - Notice for reopening issued under directives and compulsion of audit party, cannot be sustained: HC
 
Chandigarh, July 20, 2017
CX - Statement recorded of authorised signatory - CCE who framed the charges demanding duty has ignored this admissible evidence and, therefore, SCN is not tenable in law: CESTAT
 
New Delhi, July 20, 2017
I-T - Where owner had let out his building together with equipments & furniture, then rental income derived therefrom has to be treated as income from other sources: HC
 
Ahmedabad, July 20, 2017
I-T - Statutory corporation constituted for purpose of establishing commercial centers in connection with establishment & organization of industrial estates, is entitled to exemption u/s 11: HC
 
Chennai, July 20, 2017
ST - Judicial discipline - Reimbursable out-of-pocket expenses is not includible in the gross value of taxable services : CESTAT
 
Mumbai, July 20, 2017
CX - Renting of road is an Input Service : CESTAT
 
New Delhi, July 19, 2017
GST - All legal services provided by Advocates, law firms of Advocates, or LLPs of advocates will be continued to be governed by reverse charge mechanism - No coercive action: HC
 
Chennai, July 19, 2017
I-T - Mere fact that sources of investment are common in two of its units, would not by itself disentitle manufacturer from claiming deduction qua second unit, if he has engaged separate labour : HC
 
Mumbai, July 19, 2017
ST - If notification No. 1/2006-ST is denied, appellants would be clearly entitled to CENVAT credit irrespective of fact that they have not claimed it earlier: CESTAT
 
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