News Update

Income 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
 
Page 201
Allahabad, June 12, 2017
I-T - 'Non-encashment of cheques' would not save 'entries of credit' appearing in books of a/c for which no plausible explanation was furnished, from rigours of Sec 68: HC
 
Mumbai, June 12, 2017
ST - It is far-fetched to consider paymaster to be provider of any service: CESTAT
 
New Delhi, June 10, 2017
Linking Aadhaar to PAN & ITR - Validity of Sec 139AA passes muster of Articles 14 & 19; to be examined against Article 21 by Constitution Bench: Supreme Court
 
Mumbai, June 10, 2017
CX - When capital goods were cleared after substantial use, such capital goods do not remain 'as such': CESTAT
 
Mumbai, June 09, 2017
ST - Respondent purchased land/ TDR and sold for a profit - not taxable under 'real estate agent' or 'real estate consultant' services: CESTAT
 
Kolkata, June 09, 2017
I-T - Compensation received on account of power generation loss, is eligible for deduction u/s 80-IA: ITAT
 
New Delhi, June 09, 2017
CX - SSI - Revenue has not adduced any evidence to show that goods are 'not' branded – axiomatic that such clearances are excludible: CESTAT
 
Mumbai, June 09, 2017
Cus - Gazette is a public document and restriction imposed was in public domain – importing offending goods without permit is smuggling: CESTAT
 
Kolkata, June 08, 2017
I-T - Assessee is eligible for deduction u/s 80IA, if he is a developer and not 'works contractor': ITAT
 
New Delhi, June 08, 2017
ST - Construction of Complex Services - Common area and common shared facilities should be with reference to approved layout: CESTAT
 
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