SIGN IN SUBSCRIBE

News Update

Saudi Arabia imposes temporary visa ban on 14 countries, including PakistanUK protests against Israel detaining two British lawmakersGovt to set up dedicated startup India desk for budding entrepreneursDelhi Govt takes stern action against steep fee hike by private schoolsUK MP Dan Norris arrested for alleged child sex offencesIndian-American country judge nabbed on money-laundering chargesAustralia pledges 2.3 bn Australian dollar to enable households buy solar batteriesIndia, Lanka sign MoU on defence cooperationCX - Mere interconnection under Income Tax law does not establish a related party transaction under Central Excise law, thereby invalidating department's demand for duty at 110% of production cost: CESTATOwaisi moves SC against Waqf Amendment ActNo TDS to be deducted u/s 194EE on payments u/s 80CCAST - Removal of smart cards for pairing with set-top boxes (STBs) constituted job work under Rule 4(5)(a) of CCR, 2004 and thus, reversal of CENVAT credit is not required: CESTATCBIC issues AGT orders of 229 Jcs / ADCs + 308 ACs / DCs + 177 Pr Commissioners / Commissioners + 12 Pr CCs & CCsST - Activity of serving as intermediary between foreign entities & Indian customers, qualifies as export of services; commissions earned by assessee will not attract Service Tax levy: CESTATKessler Syndrome: Over 1200 objects of space debris banged into earth in 2024CX - Valuation - Specifications meant for guidance purposes per se differ from detailed engineering drawings; only the latter is to be included in assessable value: CESTATTrump grants another 75-day to TikTok to find Chinese buyerEU fears Trump beer tariffs may cost one lakh jobsTrump tosses out National Security Agency DirectorBudget Session of Parliament adjourns sine-die; 16 Bills passedHamas says Israeli offensive in Gaza is fatal for hostagesEuropean Commission votes to freeze existing sustainability rules to compete with China and USParliament passes Protection of Interest in Aircraft Objects Bill, 2025US economy adds 2.28 lakh jobs in March monthI-T - Provisions of section 50C are equally applicable to asset forming block of asset as well: ITATChina retaliates; imposes 34% tariffs on American goods

MESSAGE BOARD

   

Cus - S.129E did not defeat or render vested right of appeal illusory - condition of pre-deposit is a reasonable condition: HC


Not printer's devil but printer a devil

You have written "after extracting the referred provisions, the High Court...". What was extracted was the version of Finance Bill and not that of the Finance Act, which rendered the Bench unable to see how two classes are created, ie. saddled with duty or duty & penalty on one side and only penalty on the other side.

The same mistake happened in the Nimbus case also.

The problem crept because of the incorrect version published by Professional Book Publishers who publish under the Trade Name "Professional's". The said publisher gave the version of Finance Bill in the bare act though the same was altered and the Finance Act was passed with modifications in the proposed substitution of Section 129E.

We are in the process of filing a Review Petition in the matter.

sureshbala sureshbala 28/06/2017

 

Back

TIOL Tube Latest

TIOL Tube
Technical Session 1: Decoding New Income Tax Bill 2025

TOP NEWS


VISION 360






Technical Session 2 - Retrospective Taxation - Surge in GST Litigation - Possible Remedies.

TII LATEST

TIOLCORPLAWS LATEST