News Update

CPI gets Rs 11 Cr tax notice for using old PAN numberGST - Penalty demand of Rs.3731 crores - A person who would fall within the purview of sub-section (1-A) of s.122 should necessarily be a taxable person who retains the benefits of transactions: HCFATP hand-wrings over slow regulation of crypto by member-countriesGST - Threatening and pressurising petitioner who is merely an employee - Highly unconscionable and disproportionate on the part of the officer: HCGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST -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)Training Program for Cambodian civil servants commences at MussoorieCBIC revises tariff value of edible oils, gold & silverCBIC directs all Customs offices to remain open on Saturday & SundayI-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 dronesCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
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Chennai, March 09, 2015
ST - Theatre Artist Vs Movie Artist - Writ Petition challenging exemption given to Theatre Artists under Notification No 25/2012 as discriminatory - Petition has no merit: HC
 
Pune, March 09, 2015
Income tax - Whether 'customer base' acquired on account of transfer of business ownership of a company, is eligible for benefit of depreciation u/s 32(1)(ii) - YES: ITAT
 
Chennai, March 07, 2015
CBI arrests five Customs officials at Trichy Airport raids places in many States and seizes cash
 
Mumbai, March 07, 2015
ST - Refund - Notification 9/2009-ST - So long as there is an issue as to whether services consumed within SEZ are exempt or taxable, then, same would be having a relation to rate of duty -Appeals not maintainable: High Court
 
Jaipur, March 05, 2015
Sales Tax - Whether a composite works contract for 'supply of pipes' and 'contract of civil work' is liable to be classified as divisible contracts, and accordingly attracts levy of sales tax separately on certain items - YES: HC
 
New Delhi, March 05, 2015
Dishonest adjudication exercise - Commissioner defying Tribunal's directions and passing an order which should never have been passed - Cost of Rs 10,000 imposed: CESTAT
 
Chennai, March 05, 2015
Income tax - Whether income from 'deposits in current account' can be construed as trading receipt even if such deposits are admitted by Director of assessee-company as unexplained - NO: HC
 
New Delhi, March 04, 2015
Income tax - Whether if CIT fails to either accept or refuse approval u.s 12AA within six months, registration would be deemed as granted - NO: HC Larger Bench
 
Mumbai, March 04, 2015
Sales Tax - Whether basic burden about concealment of transactions or inaccurate furnishing of particulars of transaction is on Revenue - YES: HC
 
New Delhi, March 04, 2015
Income tax - Whether when the JV constituents are already taxed at maximum marginal rate, AOP would again be liable to be taxed - NO: HC
 
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