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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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Chandigarh, September 16, 2016 Cus - There is nothing subsisting to suspend or cancel, about DEPB which has lost its validity, for it is no longer DEPB but piece of paper of no worth: High Court

New Delhi, September 16, 2016 ST - Once it is admitted that levy itself came into force w.e.f 01.07.2010, amount collected without authority of law is refundable: High Court

Chennai, September 16, 2016 I-T - Whether when assessee has taken over possession of wind mill before end of relevant FY and same was put to use generating electricity before 31 st March, depreciation can still be denied in same FY - NO: HC

Mumbai, September 16, 2016 Cus - As goods have already been disposed of by appellant, Revenue cannot be prevented from encashing BG: CESTAT

Mumbai, September 16, 2016 CX - Conclusion by AC that treatment of fabrics with soda bleach at room temperature amounts to bleaching is not supported by any technical data: CESTAT

Chandigarh, September 15, 2016 Cus - Since a specific finding is recorded by lower appellate authorities that appellant was not party to fraud; that DEPB was found to be genuine document, though obtained by seller by producing forged documents, duty cannot be demanded: High Court

Mumbai, September 15, 2016 I-T - Whether interest income earned by assessee on investment of share investor's money is to be classified under 'income from other sources' - YES: HC

Ernakulam, September 15, 2016 CX - Amendment of Sec 35F of CEA requiring to make pre-deposit of fixed percentage of tax demanded or penalty levied or both to entertain appeal by Commissioner (A)/CESTAT - Upheld as constitutionally valid: High Court

Cuttack, September 15, 2016 I-T - Whether when Settlement Commission order has become conclusive being not agitated before Commission and no other legal points are submitted, exercise of writ jurisdiction in such case is still available - NO: HC

Mumbai, September 15, 2016 ST - Appellant providing Mid Day meals to various schools and are paid for same by Schools/government - Appellant does not fall within definition of 'Outdoor caterer' - Demands set aside and appeals allowed: CESTAT

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