News Update

India received foreign remittance of USD 111 bn in 2022, says UNPitroda resigns as Chairman of Indian Overseas Congress over racist remarkGovt hosts workshop on improving Ease of Doing Business in Mining sectorI-T - Anything made taxable by rule-making authority u/s 17(2)(viii) should be 'perquisite' in form of 'fringe benefits or amenity': SCCus - Drawback - Revenue contends that appeal of exporter ought to have been dismissed by Tribunal as not maintainable since correct remedy was filing a revision application with Central government - Appeal disposed of: HCCus - CHA - AA has clearly brought out the modus adopted by the appellant and how he was a party to the entire under valuation exercise - Factual finding affirmed by Tribunal - No question of law arises for consideration: HCGST - Proper officer has not applied his mind while passing the order; confirmed demand by opining that reply is not satisfactory - Proper Officer is directed to withdraw all punitive actions taken against petitioner pursuant to impugned order: HCGST - Proper Officer had to at least consider the reply on merits and then form an opinion - Non-application of mind - Order set aside and matter remitted for re-adjudication: HCGST - Cancellation of registration for non-filing of returns - Suspension/revocation of license would be counterproductive and works against the interest of revenue - Pragmatic view needs to be taken to permit petitioner to carry on his business: HC86 flights of AI Express cancelled as crew goes on mass sick leaveTax Refund Conundrum - Odyssey of Legal MisstepsI-T- AO not barred from issuing more than one SCN; Fresh SCN seeking information is not without jurisdiction, more so where HC itself directed re-doing of assessment: HCMurthy launches Capacity Building on Design and Entrepreneurship programCash, liquor & drugs worth Rs 110 Cr seized from Jharkhand ahead of pollsI-T- Appeal before CIT(A) (NFAC) is rightly dismissed where it has been delayed by over one year without just & reasonable cause: ITATPoll-induced stress: 2 Bihar officials die of heart attack at polling boothsSixth Edition of Commandants' Conclave held in PuneSome Gujarat villages keep away from polls over unfulfilled demands from governmentRoof-hugging inflation nudges Argentina to print first lot of 10,000 notes of pesoInvestigation finds presence of ‘boys club’ strands of culture at American bank regulatorUS cancels licence to some firms found exporting materials to Huawei
 
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Ahmedabad, August 11, 2015
I-T - Whether if assessee participates in reassessment proceedings without questioning Sec 148 notice and proceedings are later dropped but CIT invokes revisionary powers, in such case assessee is free to challenge Sec 148 notice - YES: HC
 
New Delhi, August 11, 2015
ST - When clause (i) of ECIS definition w.e.f 16.06.2005 covered everything which was covered by definition of ECIS prior to 16.06.2005 it has to be held that what is contained in clause (ii) of ECIS definition was not covered under the ECIS definition prior to 16.06.2005: CESTAT
 
Chennai, August 10, 2015
DGCEI detects Rs 2500 Crore CENVAT Credit fraud by insurance companies; Summons issued against 16 Cos
 
Mumbai, August 10, 2015
Cus - Being responsible citizen, knowing fully well procedures which have to be followed while travelling abroad, in addition, being frequent traveller, it was expected of petitioner not to have acted in manner done - Imposition of penalty does not visit petitioner with any stigma: HC
 
Bangalore, August 10, 2015
I-T - Whether any delay in furnishing TDS returns would lead to cascading effect and would stall assessment of returns filed by deductees - YES: HC
 
Ahmedabad, August 10, 2015
Matter heard by Member (J), decision delivered by Member (T) - Order set aside and matter remanded with direction to hear and decide issue only by one person, either by Member(T) or Member(J): HC
 
Mumbai, August 10, 2015
ST - Consultant pocketing money meant for tax - FIR proceedings against Consultant shows that it is not appellant who has committed offence, therefore, there is reasonable cause for waiver of penalty: CESTAT
 
Mumbai, August 09, 2015
ST - Designated authority not issuing acknowledgement of discharge in form VCES-3 - SCN issued demanding ST for period July 2012 to August 2013 - merely because the SCN is going to be adjudicated by a distinct authority does not mean that the petitioner is prevented from canvassing appropriate pleas: HC
 
Paris, August 09, 2015
OECD releases guidelines to implement global standard on automatic exchange of information
 
New Delhi, August 08, 2015
I-T - Whether wheeling charges paid on transfer of electricity under bulk power transmission pact without any distribution licence are to be treated as fees for technical services - NO: HC
 
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Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.


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