News Update

Govt orders mandatory declaration of stock position of wheatCPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCGovt issues advisory against calls impersonating DoTFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST -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)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-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 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Bangalore, November 19, 2015
CX - Mandatory pre-deposit under S 35F - Right to file appeal under Ss 35 & 35B of CE Act is not absolute - Amendment to Sec 35F is applicable to appeals filed after 06.08.2014 though lis commenced prior to that date - HC dismisses WPs
 
Mumbai, November 19, 2015
ST - Refund - Notfn 41/2007 - Education cess paid on service tax by service providers is also to be refunded to appellants when export of goods is not in dispute - Appeals allowed with consequential relief: CESTAT
 
Mumbai, November 19, 2015
I-T - Whether 'electric fittings' should be considered as 'plant & machinery' and depreciation should be allowed @ 15% to same - YES: ITAT
 
Allahabad, November 19, 2015
I C Engines cleared with bought-out pumps in a single carton as 'Pump Set' - Process does not amount to manufacture - Exemption for IC Engines used in such pump sets is not admissible - HC remands matter
 
New Delhi, November 18, 2015
Interest Tax - Whether interest payable on a discounted bill of exchange can be equated with interest payable on a loan or advance - NO: SC
 
Mumbai, November 18, 2015
ST - Dy RTO has categorically stated that vehicles operated by appellants cannot be considered as Tourist vehicles, therefore, pre 10.09.2004 activity is not leviable to tax: CESTAT
 
Jaipur, November 18, 2015
I-T - Whether when assessee claims Sec 54F benefits for three plots of land, located at different places, such claim amounts to furnishing of inaccurate particulars, warranting penalty u/s 271(1)(c) - YES: ITAT
 
Mumbai, November 18, 2015
ST - Refund - Notification 11/2005 - Relevant date for refund in case of rebate is from date of payment of ST on taxable services exported and not from date when consideration was received by FIRC: CESTAT
 
New Delhi, November 18, 2015
CX - Clandestine manufacture of Khaini - A foundational fact that would have to be shown to exist for attracting deeming fiction u/r 18(2) is that goods were found to have been 'manufactured in or cleared from' premises searched - Tribunal to hear appeal without pre-deposit: HC
 
Mumbai, November 17, 2015
ST - s 73(3) - Amount of tax paid along with interest before issuance of SCN - When SCN itself should not have been issued there is no question of imposing any penalty - Penalties imposed under Ss 76, 77, 78 set aside & appeal allowed: CESTAT
 
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