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, July 21, 2014
Cus - Seizure of Gold from under sea - Captain of vessel arrested on charge of throwing gold into sea - Trial court acquits accused - Revenue's appeal dismissed: HC
 
New Delhi, July 20, 2014
238 Companies vanished after raising funds through public issues: FM
 
New Delhi, July 20, 2014
Manufacturing Sector contribution to GDP stabilises at 15%; No separate data on capital goods maintained
 
New Delhi, July 19, 2014
Govt providing different packages of tax concessions and financial aid to many NER, HP, Uttarakhand and J & K
 
Ahmedabad, July 18, 2014
CX - In view of revenue neutrality, interest u/s 11AB of CEA, 1944 for clearances made before 11.05.2001 cannot be demanded from Appellants even though demands were confirmed by invoking extended period: CESTAT
 
Allahabad, July 18, 2014
ST - Refund - Once finding of adjudicating authority that claim for refund was filed within period of limitation of one year was not challenged by Revenue before first appellate authority, such ground cannot be urged for first time in an appeal before this Court: HC
 
Mumbai, July 18, 2014
CX - Appellant producing CA certificate showing inclusion of elements which Revenue alleges was not included in AV - CCE has unnecessarily proceeded to adjudicate matter without verifying facts and expecting that this is Tribunal's job: CESTAT
 
Allahabad, July 18, 2014
Income tax - Whether, based on subsequent decision of Supreme Court which was not available at time of decision given by Tribunal, rectification application u/s 254(2) is maintainable - YES: HC
 
Hyderabad, July 18, 2014
ST - Attachment of Bank account - This appears to be one of modes of recovery of dues - Petitioner allowed to represent before Authority - Recovery stayed till passing of speaking order : HC
 
Ahmedabad, July 17, 2014
Cus - Clarification issued by DGFT will be binding on Customs so far as ITC restrictions are concerned under FTP - Marine Gas Oil in fuel tanks form an integral part of ship and is freely importable - appeals allowed: CESTAT
 
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