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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Jaipur, September 26, 2018
I-T - General share purchase transaction should not be construed as bogus, simply because such transaction has resulted in huge capital gains to investor: ITAT
 
Chennai, September 26, 2018
CX - Interpretation which makes Writ Court order as unworkable has to be construed as disobedience: HC
 
Allahabad, September 25, 2018
GST - E-way bill - gross chaos due to quick changes, even field officers could not track - seeking adherence to compliance of provisions which stood substituted and had become otiose is an unauthorized act: HC
 
New Delhi, September 25, 2018
I-T - CBDT circular which bars claim of depreciation in respect of any infrastructure facility, will be treated as mere opinion unless & until issue got covered by decided judgment of jurisdictional HC or SC: HC
 
Indore, September 25, 2018
GST - Officers appointed under MPGST Act are authorized to be proper officers for purpose of IGST: High Court
 
Mumbai, September 25, 2018
I-T - Mere furnishing of PAN & bank statements is not enough to discharge burden of taxpayer, so as to escape realms of Section 68: HC
 
Mumbai, September 25, 2018
ST - Till time SCN is adjudicated, it cannot be conclusively stated that tax was paid by Petitioner on basis of forged/fabricated/bogus challans - invocation of s.87 of FA, 1994 is premature: HC
 
Chandigarh, September 25, 2018
I-T - Bank branches which fall within 8 km from municipal limit are rural branches and are eligible for deduction u/s 36(1)(viia) @ 10% of aggregate rural advances on account of bad debts: ITAT
 
Mumbai, September 25, 2018
ST - Service of procuring orders and passing it to overseas manufacturers/clients and receiving payments for same is an activity of export of service: HC
 
New Delhi, September 24, 2018
Cus - Anti-dumping - Termination order passed u/r 14 of Customs Tariff (Anti Dumping) Rules, 1995 is appealable u/s 9C of the CTA, 1975 before CESTAT: High Court
 
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