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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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New Delhi, April 13, 2017 Cus - Judicial Discipline demands that if Bench of Tribunal does not agree with decision of another Bench, correct course of action would have been to seek views of larger Bench: Supreme Court

Chandigarh, April 13, 2017 ST - A mere incorrect order ought not to invite penal consequences if made bonafide - Cost imposed by CESTAT on Dy.Commr. set aside: HC

Ahmedabad, April 13, 2017 I-T - Notified exemption on capital gain derived from sale of agricultural lands cannot be denied, if subject land was found at distance of more than 8 kms from municipal area

Mumbai, April 13, 2017 ST - Since there is no payment received, hence assessable value is '0' and when AV is '0' there cannot be any tax and no liability arises: CESTAT

Mumbai, April 13, 2017 CX - If at all any activity by any imagination amounts to manufacture, by virtue of immovability of LPG Bullets, the activities at site cannot be charged to excise duty: CESTAT

New Delhi, April 12, 2017 Challenge to 'Ketamine' Notfn. fails - phrase 'and' in between clauses (a) & (b) of s.3 of NDPS Act should be read as 'or' to give a disjunctive reading: HC

Mumbai, April 12, 2017 CX - Spent solvents or admixture solvents cannot be considered as excisable goods before or after 10.05.2008: CESTAT

Mumbai, April 12, 2017 I-T - Benefit of accumulation u/s 11(2) cannot be denied to Trust, if Form 10 as prescribed under Rule 17 was duly filed during assessment proceedings: HC

Mumbai, April 12, 2017 ST - Claim of rebate of Tax under Export of Services Rules, 2005 and refund of CENVAT Credit u/r 5 of CCR are mutually exclusive schemes: CESTAT

Chandigarh, April 11, 2017 I-T - Non-filing of I-T return by charitable trust for previous years, is no valid ground to deny registration u/s 12AA

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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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