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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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Chennai, February 28, 2017 I-T - Merely because assessee had moved Settlement commission, it would not render his every act as dubious, says HC

Ahmedabad, February 28, 2017 CX - Absent issue of SCN against sealed machines & failure to pass order extending period of seizure upon lapse of statutory period of six months, continuation of seizure is illegal: HC

Mumbai, February 27, 2017 CX - Ownership is not the criteria for allowing credit on capital goods: CESTAT

Kolkata, February 27, 2017 I-T - Upfront premium on Zero Coupon Non-Convertible Debentures is allowable deduction: ITAT

Mumbai, February 27, 2017 ST - Refund claim of appellant being not in dispute before any higher judicial authority, Sec 11B Clause (B)(ec) will not get attracted - claim time-barred: CESTAT

Mumbai, February 25, 2017 ST - BAS - Amount received by appellant upon transferring benefit of export cannot be considered either as commission or brokerage: CESTAT

Mumbai, February 24, 2017 CX � No interest liability devolves on Central Govt for any delay in transferring amount to Consumer Welfare Fund - Appellant has no vicarious standing to act on behalf of Fund: CESTAT

Mumbai, February 24, 2017 ST - IPL is sporting event, sponsoring of same is not taxable: CESTAT

New Delhi, February 24, 2017 I-T - Amounts paid as part of lease premium towards acquisition of leasehold rights, were not 'rents' warranting obligation u/s 194-I

Mumbai, February 24, 2017 CX - Even if small part of process is carried out with help of pedal operated machine, garments will remain as handicrafts � Benefit of notfn. 76/86-CE available: 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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