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World Energy Congress 2024: IREDA CMD highlights need for Innovative Financing Solutions Voter turnout surpasses 50% by 4 PM in Phase 2 polls ST - Amendment made to FA, 1994 on 14.05.2015 making service tax applicable retrospectively on chit-fund business is only prospective - Refund payable of tax paid between 01.07.2012 to 13.05.2015: HC XI tells Blinken - China, US ought to be partners, not rivals ST - SVLDRS, 2019 - Amnesty Scheme, being of the nature of an exemption from the requirement to pay the actual tax due to the government, have to be considered strictly in favour of the revenue: HC CX - Issue involved is valuation of goods u/r 10A of CE Valuation Rules, 2000 - Appeal lies before Supreme Court: HC Cus - Smuggling - A person carrying any article on his belonging would be presumed to be aware of the contents of the articles being carried by him: HC Cus - Penalty that could be imposed for smuggling 3.2 kg of gold was Rs.88.40 lakhs, being the value of gold, but what is imposed is Rs.10 lakhs - Penalty not at all disproportionate: HC Cus - Keeping in mind the balance of convenience and irreparable injury which may be caused to Revenue, importer to continue indemnity bond of 115 crore and possession of confiscated diamonds to remain with department: HC Cus - OIA was passed in October 2022 remanding the matter to adjudicating authority but matter not yet disposed of - Six weeks' time granted to dispose proceedings: HC I-T - High Court need not intervene in matter involving factual issues; petitioner may utilise option of appeal: HC China asks Blinken to select between cooperation or confrontation I-T - Unexplained cash credit - additions u/s 68 unsustainable where based on conjecture & surmise alone: ITAT Honda to set up USD 11 bn EV plant in Canada Imran Khan banned from flaying State Institutions I-T - Income from sale of flats cannot be computed in assessee's hands, where legal possession of flats had not been handed over to buyers in that particular AY: ITAT Pro-Palestine demonstration spreads across US universities; 100 arrested I-T - Investment activities in venture capital which are not covered in negative list under Schedule III to SEBI Regulations, qualifies for deduction u/s 10(23FB): ITAT NATO asks China to stop backing Russia if keen to forge close ties with West NY top court quashes conviction of Harvey Weinstein in rape case


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Nainital, March 24, 2018 I-T - Supply of vehicles by Carrier to Petroleum Company as per operational convenience of latter is not hiring of vehicles & therefore not covered u/s 194-I: HC

Mumbai, March 23, 2018 I-T - TDS certificate granting lower rate cannot abruptly be cancelled, based on Revenue's apprehensions that assessee may run into losses in future: HC

Ahmedabad, March 23, 2018 I-T - Failure of explicit communication of amended trust deed before Department, is no ground for withdrawal of its registration, till its charitable: ITAT

Mumbai, March 23, 2018 Sales tax - Kerosene returned back by RIL to BPCL after extracting N-Paraffin, will amount to 'fresh purchase' and not 'return stream', and hence taxable from prospective effect: HC

Mumbai, March 23, 2018 CX - Allowing credit only to extent of tax paid by recipient assessee in respect of Manpower Supply service and denying credit of quantum of tax paid by service provider is not based on law: CESTAT

Mumbai, March 23, 2018 CX - Merely because there is a long interval in manufacture of prototype vehicle, assessee cannot cease to become a manufacturer and be considered as a trader so as to deny CENVAT credit on inputs: CESTAT

Ernakulam, March 22, 2018 I-T - Merely mentioning income in P&L a/c and in Balance sheet does not absolve assessee from disclosing such income in returns: HC

Madurai, March 22, 2018 GST - Inclusion of Petrol and diesel under GST It is for GST council to take a call - Petition dismissed: HC

Ahmedabad, March 22, 2018 I-T - Merely because a delinquent has managed to escape punishment, will not safeguard other similarly-placed wrong-doers from prosecution or penalty: ITAT

Mumbai, March 22, 2018 CX - Without a re-classification for assessment, there is no scope for denying CENVAT credit on inputs that find use in manufacture: 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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