News Update

3 Indian women from Gujarat died in mega SUV accident in USJNU switches to NET in place of entrance test for PhD admissionsGST - fake invoice - Patanjali served Rs 27 Cr demand noticeI-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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Ahmedabad, June 05, 2013
CX – Valuation - Just because appellant has mentioned 'exclusively for industrial use' and 'not to be sold in loose', Rule 34 cannot be compulsorily applied - unless assessee claims exemption from printing MRP under Rule 34 of SWM Rules, MRP is required to be printed - Appeal allowed: CESTAT
 
Hyderabad, June 04, 2013
I-T - Whether merely because AO order does not contain reasons as to why he accepted assessee’s claim, his order becomes susceptible for revision u/s 263 - NO: AP High Court
 
New Delhi, June 04, 2013
ST - Commercial Training or Coaching Service - CBEC Circular restricting exemption under Notification No 12/2003 only to standard text books is illegal and unauthorized: CESTAT
 
Mumbai, June 04, 2013
Customs Valuation - Strictures against Deputy Commissioner, GATT Valuation Cell, Mumbai - High Court remands matter with a direction to Commissioner to assign job to some other officer for adjudication
 
New Delhi, June 03, 2013
FSDC reviews credit quality of banking system and addl capital needs under Basel III
 
Mumbai, June 03, 2013
I-T - Whether provision made for performance awarranty nd other contractual liability as per AS-7 cannot be said to be an ascertained liability and accordingly not allowable as deduction - Partly allowed: ITAT
 
Mumbai, June 03, 2013
ST - Sugar factory renting part of premises to Bank, BSNL and post office - Bank and BSNL are commercial organizations and renting amounts to furtherance of business - claim of SSI benefit not considered by lower authority - Matter remanded: CESTAT
 
Mumbai, June 03, 2013
CHALR, 2004 - in a situation where urgent action is necessary, it would be open to Commissioner to pass immediate prohibitory order for limited period and to afford to CHA an opportunity of being heard: HC
 
New Delhi, June 02, 2013
New Defence Procurement Policy focuses on indigenisation of production
 
New York, June 02, 2013
Human Trafficking: Need to combat demand for sexual exploitation, human organs and forced marriages
 
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