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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Mumbai, April 15, 2015
ST - Freight rebate & Primary freight rebate received by Respondent is due to their investment in 125 wagons and is clearly arising out of arrangement with Railways - Merely because sum is routed or received through ACC Ltd. it cannot be linked with C & F Agent's service: CESTAT
 
Doha, April 14, 2015
Wildlife crime has become serious crime now; 20000 African elephants & 1000 rhinos slaughtered in 2013 alone: UN
 
Jaipur, April 14, 2015
Sales Tax - Whether freight is a part of turnover and thus sales tax is leviable - YES: HC
 
New Delhi, April 14, 2015
CENVAT - Non-receipt of goods along with invoice - It would be impractical to require assessee to go behind records of first stage dealer - allegation made on basis of statement given by supplier but no probe conducted - Appeal allowed: CESTAT
 
Chandigarh, April 13, 2015
Whether VAT can be levied on activation of SIM cards when it is already held by Supreme Court that same cannot be treated as transaction of sale - NO: HC
 
Ernakulam, April 13, 2015
ST - Demand on renting of immovable property from State Govt department - Union has legislative sanction for levy of service tax on renting of immovable property as per Entry 97 of List I of Constitution of India - Contention that it is subject under State list fails: High Court
 
Mumbai, April 13, 2015
Income tax - Whether when discrepancies are found in claim of assessee that in a short span of time it moved wind mills from one location to another and installed them, depreciation can be denied - YES: HC
 
Mumbai, April 13, 2015
Cus - Tribunal is barred from entertaining any appeal unless mandatory pre-deposit is made - as appellants have now prepared Demand Drafts of 7.5% of duty demanded it is just and proper to allow restoration applications: CESTAT
 
New Delhi, April 12, 2015
Lok Adalat settles 2.4 lakh labour and family matters related cases involving value of Rs 40 Cr
 
Mumbai, April 12, 2015
CX - s.35F - In appeal procedure in Tribunal, stage of entertaining appeal is right from date of filing of appeal, therefore, at time of filing of appeal, appellant is required to make deposit of 7.5% or 10%of duty: CESTAT
 
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