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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, February 08, 2017 CX - Since imported machine was damaged in transit & parts of same were replaced by fresh import of spares, credit proportionate to damaged parts is not available as same were not used: CESTAT

Ahmedabad, February 08, 2017 I-T - Whether interest charged on delayed payment of sale consideration, is required to be excluded for purpose of computation of deduction u/s 80HHC - NO: HC

Mumbai, February 08, 2017 ST - One typographical error cannot disentitle appellant from the benefit of VCES, 2013: CESTAT

Mumbai, February 07, 2017 CX - Trading activity was incorporated in definition of exempted services only from 1/4/2011, therefore, prior to that date rule 6 of CCR, 2004 is inapplicable: CESTAT

Mumbai, February 07, 2017 I-T - Whether expenses incurred during interregnum between setting up of business and its commencement thereto, are permissible deductions - YES: HC

New Delhi, February 07, 2017 CX - Service Tax paid on tracking service viz. Truck Khoj services is an Input Service: CESTAT

Chennai, February 07, 2017 Cus - EPCG - Location of imported cranes at another site, admittedly belonging to appellant, is not transfer contemplated in condition no.2 of notification 103/2009 Cus - Appeal allowed: CESTAT

Mumbai, February 06, 2017 CX - Samples removed and used for mandatory quality control tests are not excisable goods: CESTAT

Mumbai, February 06, 2017 Cus - Importer has been fastened with differential duty - Doubtlessly, it is same entity that is liable to be penalized u/s 114A and there is no requirement for specific mention of importer: CESTAT

New Delhi, February 06, 2017 I-T - Whether compensation received for permanent departure from ongoing business, would render such compensatory non-compete fee as capital receipts - YES: HC

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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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