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 290
Mumbai, August 31, 2016
Cus - Discussion & findings and operative portion of order are apparently contradictory - there is clear non-application of mind on part of Commissioner (A) - order set aside and matter remanded: CESTAT
 
New Delhi, August 30, 2016
Cus - Notfn. 12/2012-Cus has been issued in public interest- Therefore, it is not correct on part of Revenue to state that since purpose of import of aircraft is in nature of personal use and not for public use the benefit should be denied: AAR
 
New Delhi, August 30, 2016
Central Excise - Refunds - Unjust Enrichment - Buyer does not mean first buyer alone; Refund on basis of credit note permissible: Supreme Court
 
Mumbai, August 30, 2016
ST - Tax having been accepted into Consolidated Fund is sufficient to reinforce eligibility of appellant as provider of taxable service to take and avail CENVAT Credit - refund of accumulated credit admissible: CESTAT
 
Chennai, August 30, 2016
Income tax - Whether order of Settlement Commission can be revised belatedly, in absence of proof of any allegation of fraud or misrepresentation - NO: HC
 
Mumbai, August 30, 2016
CX - Rule 2(k) of CCR, 2004 - CENVAT credit is admissible on HR sheets used for manufacture of biogas storage tank which is exempted under Notification No. 67/95: CESTAT
 
Hyderabad, August 29, 2016
CENVAT Credit is allowed on outdoor catering post 01.04.2011 - Not hit by exclusion as Service cannot be treated as primarily for personal use of employees: CESTAT
 
Kolkata, August 29, 2016
Income tax - Whether filing of petition before HC against reopening notice, can be faulted on ground that despite receipt of reasons for notice, assessee had rushed to HC prematurely - NO: HC
 
Mumbai, August 29, 2016
Cus - Application for renewal of licence was pending with Department - there is no illegality in order of AC suspending warehousing licence of appellant exercising power given u/s 58(3) - appeal dismissed: CESTAT
 
New Delhi, August 28, 2016
Electropreneur Park set up at Delhi Univ to incubate 50 early start-ups & to create at least 5 global companies over 5 years
 
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