News Update

I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITATTorrential rains cause havoc in Pakistan; 87 killedI-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITATUS imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to PakistanCX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTATDubai terribly water-logged as it has no storm drainsST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTATEU online content rules tightened against adult content firmsCus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTATEV market cools off in US; Ford, GM eyeing gas-powered trucksApple China tosses out WhatsApp & Threads from App store after being orderedChina announces launch of new military cyber corpsRailways operates record number of additional Trains in Summer Season 2024GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC1st phase polling - Close to 60% voter turnout recordedMinistry of Law to organise Conference on Criminal Justice System tomorrowGST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HCGovt appoints New Directors for 6 IITsNexus between Election Manifesto and Budget 2024 in July!GST - Classification - Matter which had stood examined by Principal Commissioner is being treated differently by Additional Commissioner - Prima facie , approach appears to be perverse: HCIsrael launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 polls
 
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Mumbai, April 04, 2017
CX - Charges for servicing of already sold machines is not includible in transaction value: CESTAT
 
Mumbai, April 03, 2017
Cus - Legitimate exemption, which was otherwise available under statute, cannot be denied just because same was not claimed initially: CESTAT
 
Mumbai, April 03, 2017
I-T - Importer can claim deduction u/s 43B in respect of Customs duty adjusted against his export obligation before due date of filing return: ITAT
 
Mumbai, April 03, 2017
ST - It is absurd to impose, in terms of s.76 of FA, 1994, penalty of five times interest amount in dispute: CESTAT
 
Mumbai, April 01, 2017
I-T - Whether premium collected over sale of cigarettes under twin branding mechanism & deposited in a bank a/c can be attributed to specific manufacturer, even in absence of evidence to show that bank a/c was operated by such manufacturer - NO: ITAT Special Bench
 
Mumbai, March 31, 2017
ST - Copyright societies are established under law and hence not liable to be taxed on any receipts from its members: CESTAT
 
Mumbai, March 31, 2017
CX - Words in s.35L(1)(b) are of widest amplitude - merely because Tribunal decided only limited issue, appeals cannot be held to be maintainable: HC
 
Ahmedabad, March 31, 2017
I-T - AO is permitted to pass order for special audit u/s 142(2A), in case of multiplicity of accounting transactions & specialized nature of business activities
 
Mumbai, March 31, 2017
CX – Freight charges from factory gate to depot not includible as 'depot' was absent in definition of 'place of removal' prior to 14.05.2003: CESTAT
 
Chandigarh, March 30, 2017
CX - Benefit of reduced quantum of penalty not available if only part of duty determined and interest payable thereon is paid: High Court
 
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