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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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Ahmedabad, January 24, 2019 Cus - Anomaly having arisen in two different judgments of Tribunal, on identical facts, on account of appeals being bifurcated on basis of pecuniary jurisdiction, needs to be rectified: High Court

New Delhi, January 23, 2019 I-T - Project expenses incurred in interval between setting up of business and commencement of business are Revenue expenses : ITAT

Mumbai, January 23, 2019 ST - In absence of any consideration, there is no taxable service and, in absence of taxable service, leviability of tax would not arise: CESTAT

New Delhi, January 22, 2019 Cus - Kingfisher woes - Import of aircraft engine for fitting in cannibalized aircraft - drawback claim to be processed and amount released along with interest: HC

Pune, January 22, 2019 I-T - Mere payment of commission through banking channel after deducting tax at source is not sufficient to discharge onus of proving nature of services and services received in lieu of commission : ITAT

New Delhi, January 21, 2019 I-T - Ratio of Apex Court decision in Goetze India case relating to making new claims does not bar revised computation of deductions already claimed: HC

New Delhi, January 21, 2019 I-T - In case of re-assessment, 'reason to believe' recorded by AO does not pale against appellate order making substantive addition: HC

Ahmedabad, January 21, 2019 GST - Meaning of 'transmission & distribution of electricity' does not change, either for negative list regime or GST regime - Paragraph 4 (1) of Circular No. 34/8/2018-GST dated 1.3.2018 struck down as ultra vires : HC

New Delhi, January 21, 2019 I-T - Decommissioning reserves collected by NPC from customers is akin to raising funds from market; deduction is allowable on interest paid: HC

Mumbai, January 21, 2019 ST - Since confirmed demand arising out of 'mother' notice was set aside by Tribunal, impugned order arising out of 'daughter' notice also set aside: CESTAT

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