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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Allahabad, February 05, 2014
Income tax - Whether if assessee-Trust which has listed out many charitable activities as objectives, has been able to organise only Yoga camps, Section 80G benefits will continue to be available - YES: HC
 
Mumbai, February 05, 2014
Cus - If Customs authorities do not want appellant to take vessel out of India, they should pass written order stating reasons therefor and cannot pass any oral instructions - AR to ascertain facts and inform: CESTAT
 
Hyderabad, February 04, 2014
Income tax - Whether where assessee admits tax liability on its own, law does not require further evidence to corroborate same - YES: AP High Court
 
Mumbai, February 04, 2014
CX - Credit on Construction services availed for storage of imported goods for trading - Prior to 2011, trading was not service and, therefore, appellant could not have taken credit - ST credit can be distributed only if services received at manufacturing premises: CESTAT
 
Mumbai, February 04, 2014
Cus - No prudent businessman would continue to pay higher duty without passing same to buyers - inevitable conclusion is that they have considered disputed sum of duty as cost of material - refund hit by Bar of unjust enrichment: CESTAT
 
Hyderabad, February 03, 2014
Service Tax - Waiver of pre-deposit - Pay or Perish? Tax collection a sovereign power - proper adjudication a sovereign's duty: High Court
 
Ernakulam, February 03, 2014
Income tax - Whether when assessee is an astrologer and receives certain payments from political leaders for making precise predictions on outcome of elections, such receipt is to be treated as business income - YES: HC
 
Mumbai, February 03, 2014
CX - Bought out items - whether to be added in AV of Drilling Rigs - although rigs to be used in conjunction with such items, they do not constitute parts as they are complete in themselves - not to be added in AV: CESTAT
 
Mumbai, February 03, 2014
ST - Appellant engaged in transport service & initial temporary storage of vehicles near railway sidings, only for few days, will not render appellant to fall under 'Clearing & Forwarding Agent': CESTAT
 
New Delhi, February 02, 2014
MoU signed for setting-up Hydrocarbon Sector Skill Council
 
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