News Update

CBIC revises tariff value of edible oils, gold & silverFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting 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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Panaji, April 21, 2015
Income tax - Whether if two notices are issued to assessee on different dates, it vitiates order passed under Sec 263 - NO: ITAT
 
New Delhi, April 21, 2015
NDPS - Convicted for possession of drugs on date of enactment of Act - Accused came into possession prior to enactment - Thus, it was possession in continuum and hence, principle with regard to continuing offence gets attracted - Conviction upheld: Supreme Court
 
New Delhi, April 20, 2015
Cus - Valuation - Arbitrary loading of 1% as unloading and handling charge, unsustainable - will apply only when actual charges are not ascertainable: SC
 
New Delhi, April 20, 2015
Income tax - Whether when CBDT issues directions to field formations for proper administration, it is to be construed as giving directions for doing assessment in particular manner - NO: ITAT
 
Bangalore, April 20, 2015
CX - CENVAT Credit on inputs used in intermediate goods manufactured in other factories under Strategic Alliance Agreement - Credit is admissible: High Court
 
Jaipur, April 20, 2015
VAT - Whether 'Marker' & 'Highlighter' would fall in category of 'all types of pen', for purpose of levying tax at rate of 8% - YES: HC
 
Mumbai, April 19, 2015
CX - If time barred appeal is entertained without High Court condoning delay in filing it, not only parties and litigants suffer but interests of Revenue and that of public are adversely affected: High Court
 
Doha, April 19, 2015
UN calls for stronger partnerships between public and private sectors for safer digital landscape
 
Mumbai, April 18, 2015
Income tax - Whether exemption u/s 10 can be granted to assessee, whose income forms a part of income from property held under trust - YES: HC
 
Mumbai, April 18, 2015
ST - BSS - Appellant has been funded by Central Govt as well as State Govt through MPCB for setting up Butibori CETP Plant - retrospective exemption granted by s.145 of FA, 2012 - Demand not sustainable in law: CESTAT
 
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