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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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Hyderabad, March 15, 2013 I-T - Whether when parties are inter-related in a land transaction, forfeited sums form a part of sale consideration for purpose of computing capital gains - YES: ITAT

New Delhi, March 15, 2013 ST - Two units jointly providing service to overseas client - merely because payment is routed through one unit, demand of service tax by treating one as sub-contractor to other is prima facie not sustainable: CESTAT

Mumbai, March 15, 2013 CX - Appellant purchasing raw material from market and manufacturing packaged drinking water - since M/s ABCTC is not an institutional consumer, clearance of goods by valuing u/s 4A is prima facie proper - stay granted: CESTAT

New Delhi, March 14, 2013 Whether when assessee has received only advance payment against a sale transaction, Revenue is right in law to bring entire sum to tax in same year - NO: HC

New Delhi, March 14, 2013 ST � Interpretation of notification not to liking of Revenue cannot be treated as deliberate violation to evade tax: no penalty is imposable: CESTAT by Majority

Mumbai, March 14, 2013 To equate MMRDA with road construction corp would be an insult, both to common sense and to organization, especially when one considers varied nature of activities undertaken by them � notfn. 21/2002-Cus not available: CESTAT

New Delhi, March 13, 2013 73400 taxpayers default in paying Rs 3850 Cr taxes for FY 2012-13

Kolkata, March 13, 2013 I-T - Whether any benefit derived by assessee on account of amalgamation can be construed as an income taxable as per provisions of Sec 28(iv) - NO: ITAT

Mumbai, March 13, 2013 In Customs Act nowhere is it mentioned that arranging for loan or giving amount on lease for payment of duty of imported goods constitutes offence for imposition of penalty under Section 112(a)/(b) - Appeals allowed: CESTAT

Ahmedabad, March 13, 2013 CX - H.R. Coils exempted under Notif. 6/2002 - merely because some waste was cleared on payment of duty does not mean that both, dutiable and exempted goods were manufactured out of common inputs - rule 6(1) of CCR, 2004 is applicable: CESTAT

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