News Update

India-bound oil tanker struck by Houthi’s missiles in Red SeaRBI issues draft rules on digital lendingCRPF senior official served notice of dismissal on charges of sexual harassmentColumbia faculty blames leadership for police action against protestersGoogle to inject USD 3 bn investment in data centre in IndianaUN says clearing Gaza mounds of rubble to take 14 yrsBlinken says China trying to interfere US Presidential pollsWorld Energy Congress 2024: IREDA CMD highlights need for Innovative Financing SolutionsVoter turnout surpasses 50% by 4 PM in Phase 2 pollsXI tells Blinken - China, US ought to be partners, not rivalsST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HCCus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HCCus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HCCus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HCI-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HCChina asks Blinken to select between cooperation or confrontationI-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITAT
 
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Chandigarh, August 25, 2015
NDPS - Non-compliance with Sec 50 of NDPS Act, 1985 - High Court sets aside conviction by trial court
 
New Delhi, August 24, 2015
FTP - ban of import of palm oil through ports of Kerala, in public interest - upheld: Supreme Court
 
New Delhi, August 24, 2015
Central Excise - Valuation- Additional Consideration - transfer of right to procure duty free imported raw material is additional consideration, to be included in value: Supreme Court
 
Patna, August 24, 2015
I-T - Whether charge relating to TDS would abate with time and tax dues can be construed as not payable if no action for its recovery is initiated - NO: ITAT
 
New Delhi, August 24, 2015
CENVAT - CX Authorities having jurisdiction over recipient manufacturer cannot review assessment of duty at end of supplier manufacturer: CESTAT
 
New Delhi, August 23, 2015
Growing onion tears: Import of onions - Govt to open tender on Thursday; decides to hike Min Export Price to USD 425 per MT
 
Mumbai, August 23, 2015
Cus - Pre-deposit - Board Circular 984 applies to appeals filed after amendment of section 129E of Custom Act on 6.8.2014 - Tribunal is not inclined to review own Order: CESTAT
 
New Delhi, August 22, 2015
Cus - Oracle case - To raise pure interpretational disagreement regarding valuation to status of offence case of evasion alleging suppression does not augur well for image of Department and negatively impacts ease-of-doing-business environment: CESTAT
 
Ahmedabad, August 22, 2015
CENVAT - Activities undertaken by distributors of appellant are purely distribution and have no element of sales promotion and, therefore, CENVAT credit taken with respect to commission paid to such distributors is not admissible: CESTAT
 
Mumbai, August 22, 2015
Cus - As appeal has been restored after amendment of Sec 129E in August 2014, appellant directed to pay 7.5% of penalty in compliance to provisions of sec 129E: CESTAT
 
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