News Update

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: ITATIndia-bound oil tanker struck by Houthi’s missiles in Red SeaSCO Defence Ministers' Meeting endorses 'One Earth, One Family, One Future'RBI issues draft rules on digital lendingI-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: ITATCRPF senior official served notice of dismissal on charges of sexual harassmentIndian Air Force ushers in Digital Transformation with DigiLocker IntegrationColumbia faculty blames leadership for police action against protestersCX - 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: CESTATGoogle to inject USD 3 bn investment in data centre in IndianaCus - 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: CESTATUN says clearing Gaza mounds of rubble to take 14 yrsST - When issue is of interpretation, appellant should not be fastened with demand for extended period, the demand confirmed for extended period is set aside: CESTATBlinken says China trying to interfere US Presidential pollsWorld Energy Congress 2024: IREDA CMD highlights need for Innovative Financing Solutions
 
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Chennai, August 19, 2013
I-T - Whether when assessee's return was not yet due on date of search, Revenue is justified to initiate penalty as assessee's return was filed subsequent to search - NO: Madras HC
 
Mumbai, August 19, 2013
CX - s. 2(f) - Although Appellant cannot be considered as manufacturer, there is no dispute that duty on 'final product' has been paid and Revenue has not objected - Credit availed cannot be demanded: CESTAT
 
Mumbai, August 19, 2013
ST - Shifting of raw material or cleaning factory premises, by no stretch of imagination, can be considered as job work, so as to be eligible for benefit of Notfn. No 08/2005 - appellant's submission lacks merit - Pre-deposit ordered: CESTAT
 
New Delhi, August 18, 2013
FM unveils National Skill Certification and Monetary Reward Scheme; targets 1 mn people
 
New York, August 18, 2013
9 countries accord high political visibility to sanitation and water for all: UN-backed Report
 
Chennai, August 16, 2013
I-T - Whether when land is given to assessee as part performance of his services rendered to his client but not in capacity of an Advocate, even then such receipt is to be taxed as professional income - NO: Madras HC
 
Mumbai, August 16, 2013
Cus - Import of coal from Indonesia - whether simultaneous benefit of Notification No.46/2011 and No.12/2012 is available - respondent instruct to permit petitioner to avail of benefits subject petitioner giving BG for 20% of differential duty and bond for balance amount: Bombay HC
 
Mumbai, August 16, 2013
ST - In view of specific exclusion of 'railways' from 'Commercial construction service', question of imposing ST on construction of viaduct and stations for Delhi Metro does not arise at all - there is no distinction between a monorail or metro rail - appeal allowed: CESTAT
 
Chandigarh, August 16, 2013
Curbing Central Excise duty evasion: Rohtak Commissionerate's latest case reveals interesting trend in clandestine removal
 
New Delhi, August 15, 2013
MoU with China - Indian generic drugs to get access to Chinese market, says Minister
 
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