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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, October 19, 2016 PC Act - Prosecution of IRS Officer: sanction to prosecute cannot be held invalid only for reason that in administrative notings different authorities have opined differently before competent authority took decision in matter: SC

New Delhi, October 19, 2016 Karnataka Sales Tax Act - Whether cutting and polishing granite amounts to manufacture to attract tax - matter remanded: SC

Ahmedabad, October 19, 2016 I-T - Whether when purpose of amendment is to reduce hardships of taxpayers, amendment in Sec 50C introduced with prospective effect from April 1, 2017 can also be given retro effect - YES: ITAT

Mumbai, October 19, 2016 CX - As per notfn. 3/2001-CX, 6/2002-CE, value of chassis needs to be excluded and if it is so, there cannot be any demand on amount received by appellant for modification/replacement of leaf springs before fabricating body on said chassis: CESTAT

Mumbai, October 19, 2016 ST - Enhancement of height of storage facility 'ash bund' is construction/civil work - Revenue appears to have confused same for site formation and excavation: CESTAT

Mumbai, October 18, 2016 Cus - External Hard Disks are classifiable under Heading 8471 7030 & not under 8471 7020 as Hard disc drives - benefit of notification 6/2006-CE, 12/2012-CE not available: CESTAT

Ahmedabad, October 18, 2016 I-T - Whether if certain area is not shared but is exclusively assigned for use of a particular residential unit holder, that would mean that such area would automatically be included in built up area, for purpose of computing deduction u/s 80IB(10) - NO: HC

Mumbai, October 18, 2016 CX - Imported 'sinks' were checked/packed/labeled and cleared - Revenue alleging that activity amounts to manufacture u/s 2(f)(iii) of CEA, 1944 - Once duty is held payable, credit of CVD paid upon import is to be allowed: CESTAT

Mumbai, October 18, 2016 ST - Once by detailed findings, Tribunal concluded that services are classifiable under BOFS, there is no purpose to discuss whether claim of appellant for classification under Telecommunication services is correct or not: CESTAT

Mumbai, October 17, 2016 CX - Shredded Band-Aid cleared for incineration - There is no Tariff heading for classifying scrap arising during course of manufacturing of goods of Ch. 30, hence in absence of any classification, demand of duty is unsustainable: CESTAT

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