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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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Mumbai, February 07, 2013 CX - Clearance of pressure boosting system consisting of pumps & control panel by classifying under SH 8413 70 10 & claiming benefit of exemption notfn 10/2006 as applicable to Power driven pumps - since classification is not disputed, prima facie benefit cannot be denied: CESTAT

Chandigarh, February 06, 2013 I-T - Whether a sum paid as owelty during course of partition to settle inequalities is deemed to be immovable property, and will not attract capital gains - YES: HC

Mumbai, February 06, 2013 CX - Revenue alleging manufacturers were to supply goods without duty as per Notifn 44/2001 but colluded and transferred CENVAT credit - although there is allegation, manufacturers have not been made party to proceedings - Stay granted: CESTAT

Mumbai, February 06, 2013 ST Refund - Marketing fees paid to foreign service provider & ST paid on reverse charge basis - same is input service as defined in rule 2(l) of CCR - refund is available since appellant is unable to utilize credit - Appeal allowed: CESTAT

Ahmedabad, February 05, 2013 I-T - Whether when transferor company sanctions dividend after date of amalgation but before same was sanctioned by competent court, such payment can still retain the character of dividend - NO: HC

Mumbai, February 05, 2013 No time limit in CCRs for taking credit - If manufacturer does not take credit as soon as inputs are received, word 'immediately' in rule 4(1) does not mean nor is it intended to mean that benefit would be denied � Order set aside: CESTAT

Mumbai, February 05, 2013 ST - Public facility means facilities owned by govts - Sports Stadium constructed for conducting Games is non-commercial construction - merely because some amount is charged for using facility, it cannot become commercial - stay granted: CESTAT

New Delhi, February 04, 2013 After Rule 5 of Service Tax Valuation Rules, it is now turn of CBEC Circulars - Delhi High Court quashes Circular No 158/2012 and 154/2012 as contrary to Finance Act, 1994 and Point of Taxation Rules 2011

Mumbai, February 04, 2013 Income tax - Whether for purpose of computation of capital gains u/s 50C on sale of industrial galas, expenses like licence fees and property tax paid in advance do not form part of cost of such asset - YES: ITAT

Mumbai, February 04, 2013 CX - Revenue Officers have no respect for orders passed by Tribunal and they follow own law which results in unnecessary litigation - adjudicating authority in overenthusiasm readjudicating SCNs although there was no such direction given by Commissioner(A) - Order set aside: CESTAT

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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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