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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New York, March 30, 2014
Earth Hour - UN offices went dark globally, sensitising people on energy consumption
 
New Delhi, March 29, 2014
Income tax - Whether, for purpose of Sec 158BD, it is mandatory for AO to record satisfaction note before he sends records to other AO who has jurisdiction over such other person - YES: Supreme Court
 
Bangalore/Jaipur, March 29, 2014
Bangalore, Jaipur Service Tax arrest Directors of VCES defaulters for alleged tax evasion of Rs 16 Crore
 
New Delhi, March 28, 2014
Service Tax - Export of services - Service performed in India, service recipient abroad - it is export: CESTAT
 
Mumbai, March 28, 2014
Income tax - Whether any loss made on last date of accounting year on account of derivative contract outstanding is allowable as business loss as per provisions of Sec 37(1) - YES: ITAT
 
Mumbai, March 28, 2014
CX - It is a well settled position that while considering various decisions on matter, latest decision should be preferred as that would have taken into account all the previous decisions on subject: CESTAT
 
New Delhi, March 27, 2014
Service Tax - Vocational training in areas such as export-import management, retail management and merchandising - Exempted for period 01.07.2003 to September, 2008: High Court
 
Chandigarh, March 27, 2014
Income tax - Whether when close relative of assessee has been working with him for several years, huge payment of commission in particular year can be construed as subterfuge to reduce tax liablity - YES: HC
 
Bangalore, March 27, 2014
Service Tax - Amount collected from customers not paid to Government but kept in escrow account - whether provisions of Section 73A are attracted - NO: CESTAT
 
Ahmedabad, March 26, 2014
Income tax - Whether for availing exemption u/s 54EC, period of investment of six months should be reckoned after the date of transfer or from end of British Calendar month in which transfer of capital asset took place - verdict favours assessee: ITAT Special Bench
 
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