News Update

Govt orders mandatory declaration of stock position of wheatCPI 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: HCGovt issues advisory against calls impersonating DoTFATP 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of the officer: HCECI's C-Vigil app a big hit with votersGST - Same relief was claimed in earlier petition which was withdrawn unconditionally - Fresh petition seeking same relief is barred by the estoppel principle: HCIncome tax hands over Rs 1700 Cr tax demand to Congress PartyGST -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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Ahmedabad, August 20, 2014
CX - Delay of 406 days in filing appeal before CESTAT not condoned -Dues of more than Rs.8 crores - petitioner selling the company and machineries in auction and same bought by close relatives - conduct of petitioner lacks bonafide - Petition dismissed: High Court
 
Mumbai, August 20, 2014
ST - Tax paid by appellant on reverse charge basis in respect of services provided by its agents in J&K and credit availed thereof - CENVAT Credit taken by appellant is nothing but refund of service tax paid by them on services on which they were not required to pay service tax: CESTAT
 
New Delhi, August 20, 2014
CX - Ceramic Tiles cleared to builders, hotels & schools under contract are to be valued in terms of s.4 & not s.4A - Demand upheld & appeal rejected: CESTAT
 
Mumbai, August 20, 2014
Income tax - Whether an exporter is eligible to claim deduction u/s 80HHC for deemed credit under CENVAT Incentive Scheme - YES: HC
 
Ahmedabad, August 20, 2014
Demand of duty on clandestine removals - Since appellant had prepared invoices during period, clearly indicating therein that they are operating under compounded levy scheme, it cannot be held that they had removed goods clandestinely: CESTAT
 
New Delhi, August 19, 2014
Cus - Provisional assessments made before 13.07.2006 but finalised on 18.07.2011 - Interest not leviable on differential duty u/s 18(3) of CA, 1962 - Fresh liability to be considered prospective: CESTAT
 
Mumbai, August 19, 2014
CX - Clandestine manufacture and removal of Ingots without payment of duty cannot be alleged merely on basis of electricity consumption: CESTAT by Majority
 
Chennai, August 19, 2014
Commissioner (Appeals) has no power to review order of pre-deposit, but if such order is erroneous, Tribunal is required to remand matter to Appellate Commissioner after passing appropriate order as to pre-deposit as laid down by Tribunal itself in Girnar Transformers case - Matter remanded: HC
 
New Delhi, August 19, 2014
Income tax - Whether Section 80IA benefits are available to captive electricity unit supplying power to assessee's manufacturing plant - YES: HC
 
Mumbai, August 19, 2014
CX - Right to sell in DTA accrues on first day of FY - vested right cannot be taken away merely because there was delay in issuing letter of permission by DC - such an interpretation would make mockery of provisions of EXIM policy: CESTAT
 
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