News Update

Former IPS officer Sanjiv Bhatt jailed for 20 yrs for planing 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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Chennai, November 15, 2018
I-T - Provisions of Black Money Act, 2015 get attracted only in case of undisclosed foreign income & asset and not assets purchased outside India from a source within India: HC
 
Ernakulam, November 15, 2018
GST - Law, at times, can be harsh, and Courts, usually, defer to legislative wisdom: HC
 
New Delhi, November 15, 2018
I-T - Revision of assessment order cannot be sought by skipping option of appeal against such order: HC
 
Mumbai, November 15, 2018
CX - LIC Logo printed on diaries does not establish any connection between goods and logo, hence cannot be said to be in course of trade: CESTAT
 
Shimla, November 15, 2018
I-T - Quantum of deduction claimed by taxpayer during previous years, is no benchmark to decide its allowability in future years as well: HC
 
New Delhi, November 14, 2018
I-T - Merely relying on statements recorded in survey, no addition for bogus purchases should be made during reassessment proceedings if genuineness of purchases are proved: ITAT
 
Mumbai, November 14, 2018
CX - Review committee having two CCs could have done a better job - manner in which appeal has been filed appears to be very mechanical without application of mind: CESTAT
 
New Delhi, November 13, 2018
ST - CENVAT credit admissible on Towers, shelter and accessories used for providing telecom services: HC
 
Mumbai, November 13, 2018
ST - Notfn. 40/2012-ST - Mere maintenance of account showing total quantum of tax paid cannot be construed as availment of CENVAT: CESTAT
 
Mumbai, November 13, 2018
VAT - Inability to pay amount directed for stay of demand order on account of financial difficulty, should not result in appeal itself becoming infructuous: HC
 
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