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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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Mumbai, July 13, 2017 ST - Admissibility of CENVAT Credit cannot be examined while adjudicating refund claim filed u/r 5 of CCR: CESTAT

Bangalore, July 13, 2017 Cooperative society entitled to Sec 80P(2)(a)(i) benefits on interest from FDs: ITAT

New Delhi, July 12, 2017 I-T - Whether when assessee pays composite licence fee for rent & royalty for right to operate airport lounge, such payment falls within expanded ambit of rent u/s 194-I - YES: HC

New Delhi, July 12, 2017 Appeal to Tribunal against O-in-A - Pre-deposit 7.5% plus10% - CESTAT backtracks - Accept 2.5% for now

New Delhi, July 12, 2017 I-T - Marketing research expenses incurred for enhancement of sale, cannot be amortized by invoking provisions of Section 35D: ITAT

Mumbai, July 12, 2017 Cus - Transfer of ownership or re-location of project after installation & meeting project objectives would not erase classification and assessment that prevailed at time of import: CESTAT

Mumbai, July 12, 2017 ST - In absence of activity between branch and Hqrs for an identified consideration, remittance received from overseas customers through branch to appellant would not be liable to tax: CESTAT

Mumbai, July 11, 2017 Cus - Section 129D(4) of CA, 1962 clearly extends facility of filing of cross objection by respondent assessee in Revenue appeal before Commr(A): CESTAT

Kolkata, July 11, 2017 I-T - Developer engaged into development of infrastructure facility as well as its operation and maintenance, is eligible for deduction u/s 80-IA: ITAT

Mumbai, July 11, 2017 ST - SCN cannot be issued to appellant Input Service Distributor for recovery of CENVAT credit: CESTAT

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April 26, 2024

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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