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, October 14, 2014
ST - Applicant is required to pay ST as service recipient is located in India and service has been provided in India - Pre-deposit ordered of Rs 6 cr: CESTAT
 
Mumbai, October 13, 2014
ST - Issuance of driving licence by applicant on behalf of Govt of Maharashtra prima facie is not an activity of business, therefore, same does not qualify under BAS or BSS - Pre-deposit waived and stay granted: CESTAT
 
Allahabad, October 13, 2014
Central Excise - MODVAT or CENVAT credit taken on basis of certificate issued by DRI valid: High Court
 
Mumbai, October 13, 2014
CX - Refund of unutilized credit is only permissible in case of export of goods and not for any other reason - Refund in cases of closure of factory is not provided under the statute - Appeal dismissed: CESTAT
 
Hyderabad, October 13, 2014
I-T - Whether mere fact that broker through whom assessee had purchased shares was banned by SEBI much after transactions of assessee had taken place, there is any merit in AO's opinion to treat same as not genuine - NO: ITAT
 
Geneva, October 12, 2014
World Bank, WTO join hands to aid developing countries to better utilise trade facilitation programs
 
Mumbai, October 12, 2014
ST - Services of Verification of information given by customers applying for credit cards, home loans, auto loans are covered under clause (iv) of BAS during period 01.07.2003 to 09.09.2004 and not thereafter: CESTAT
 
New Delhi , October 11, 2014
Cadre Review - Migration blues - assessees advised to pay excise duty as per old CDR Code
 
Mumbai, October 11, 2014
CX - Rebate - Sub-sec (1A) of sec 35EE brought in statute book w.e.f 11.05.1999 does not proceed to indicate that specific order u/s 35A could only be revised and not otherwise: HC
 
New Delhi, October 10, 2014
ST - Microsoft case - Service provided to Principal situated in Singapore to market products in India is an Export of Service and not liable to Service Tax: CESTAT by Majority
 
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