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I-T - Bonafide claim of deduction by assessee which was accepted in first round of proceedings does not tantamount to furnishing of inaccurate particulars, simply because it was disallowed later: ITAT India-bound oil tanker struck by Houthi’s missiles in Red Sea SCO Defence Ministers' Meeting endorses 'One Earth, One Family, One Future'RBI issues draft rules on digital lending I-T - In order to invoke revisionary jurisdiction u/s 263, twin conditions of error in order and also prejudice to interest of Revenue must be established independently: ITAT CRPF senior official served notice of dismissal on charges of sexual harassment Indian Air Force ushers in Digital Transformation with DigiLocker Integration Columbia faculty blames leadership for police action against protesters CX - When process undertaken by assessee does not amount to manufacture, even then CENVAT credit is admissible if such inputs are cleared on payment of duty which would amount to reversal of credit availed: CESTAT Google to inject USD 3 bn investment in data centre in Indiana Cus - The equipments are teaching accessories which enable students in a class to respond to queries and these equipments are used along with ADP machine, same merits classification under CTH 8471 60 29: CESTAT UN says clearing Gaza mounds of rubble to take 14 yrs ST - When issue is of interpretation, appellant should not be fastened with demand for extended period, the demand confirmed for extended period is set aside: CESTAT Blinken says China trying to interfere US Presidential polls World Energy Congress 2024: IREDA CMD highlights need for Innovative Financing Solutions


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Kolkata, August 30, 2013 CENVAT � Rule 6(3)(ii) - Discharging 10% of price of exempted goods due to non-availability of data at beginning of FY would not disentitle manufacturer from exercising option later during same FY - Stay granted: CESTAT

New Delhi, August 29, 2013 CX - Modvat - Deemed Credit - Assessee not responsible if supplier had not paid correct duty; Assessee not expected to verify with Department whether supplier had paid duty: SC

New Delhi, August 29, 2013 I-T - Whether when Revenue had issued notice for reassessment on ground that Sec 10B deduction had resulted in underassessment of income, and deduction on account of deferred revenue expenditure was inadmissible, it amounted to tangible material which had live link to validate formation of opinion - NO: Delhi HC

New Delhi, August 29, 2013 Service Tax - Franchisee Service - CESTAT upholds demand against Delhi Public School Society under normal period of limitation

Paris, August 28, 2013 MAA in Tax Matters to curb tax evasion: China, last Member of G20, signs OECD framework

New Delhi, August 28, 2013 Sliding Rupee - Possibility of Currency Swap - Task Force set up to work out mechanism

Allahabad, August 27, 2013 I-T - Whether penalty u/s 272B is to be imposed on deductor even if fault of non-furnishing of PAN details lies with deductees - NO: Allahabad HC

Mumbai, August 27, 2013 Service Tax is leviable on rendering of services - therefore, it is rate prevalent on date of rendering of service, which is relevant for levy of Service Tax - appeal allowed: CESTAT

New Delhi, August 27, 2013 CX - Appellant procuring various items of Ch. 85 for setting up paint shop in factory - Revenue alleging that upon fabrication what comes into existence being fixed to earth is not excisable and hence these items are not CENVATABLE - Order set aside: CESTAT

New Delhi, August 26, 2013 I-T - Whether when assessee is sanctioned a grant by Govt for operational purposes for a period of five years, entire sum is to be treated as receipt in same year - NO: Delhi HC

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I-T - Assessee cannot be prevented from claiming that receipts from sale of software were wrongly offered as royalty, merely because such income was wrongly offered in ROI and which was not revised: ITAT

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