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
 
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Mumbai, June 08, 2015
ST - Erection of Car Parking Systems - Erection of structures was introduced in definition of 'Erection, commissioning or installation' for first time in May 2006 - whether whole parking system can be termed as structure - Matter remanded: CESTAT
 
New Delhi, June 07, 2015
India receives more than one lakh tourists on e-visa between Jan-May, 2015
 
New Delhi, June 07, 2015
ST - Refund - Even if CENVAT credit was considered to have been taken wrongly, disallowing same requires quasi-judicial process involving issuance of SCN followed by a speaking order: CESTAT
 
New Delhi, June 06, 2015
I-T - Whether expense of salary paid to Director beyond limit prescribed under Companies Act is hit by provisions of u/s 37(1) when post facto approval is granted by Ministry of Corporate Affairs - NO: ITAT
 
New Delhi, June 06, 2015
Whether onus is on selling dealer to ensure compliance of conditions imposed by Department on purchasing dealer at time of issuance of forms - NO: HC
 
New Delhi, June 05, 2015
Lab-tested Maggi Noodles found to be violating three norms; Govt directs Nestle to recall nine variants from market
 
Chandigarh, June 05, 2015
To arrest first and then proceed with rest is despicable: High Court
 
Mumbai, June 05, 2015
ST - Method of computation of value prescribed u/r 6(3A) in respect of input services used for trading cannot be applied for period prior to 01/04/2011 - Credit disallowed in proportion of trading turnover to total turnover is correct: CESTAT
 
New Delhi, June 05, 2015
I-T- Whether payment made towards additional excise duty by assessee on behalf of contract manufacturers is allowable as business expenditure - YES: HC
 
New Delhi, June 05, 2015
Courier Imports - Penalty imposed u/s 112(a) in adjudication - Issue related to revocation of courier registration adjudicated separately after two months - Commissioner became functus officio in respect of second order - Order marked to CBEC: High Court
 
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