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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, August 08, 2016 I-T - Whether if trustees of Trust are treated as representative assessee, such trustees are liable to be taxed in respect of income received by Trust at rate contained in Sec 164(1) - YES: HC

Mumbai, August 08, 2016 Cus - Commissioner(A) confirming demand on totally new ground not alleged in SCN - as order travels beyond SCN, same is set aside & appeal is allowed: CESTAT

Ahemdabad, August 07, 2016 VAT - Whether refund payable can be denied by treating same as 'input tax credit', on very basis that assessee has opted for composition of tax, merely because such refund was shown as sum against entry of net tax credit in AY - NO: HC

New Delhi, August 06, 2016 Income Tax Department Refund Efficiency on decline; Refund of over Rs 10 lakh involving total sum of Rs 1.2 lakh crore pending for tardy scrutiny assessment

Mumbai, August 06, 2016 Cus - Reasons for 883 days delay in filing appeal not impressive but in interest of justice condonation allowed on payment of cost: CESTAT

New Delhi, August 05, 2016 ST - Manufacture of alcoholic liquor for human consumption on job work basis - Parliament is competent to legislate with reference to Entry 97 of List I - Petitions dismissed: High Court

New Delhi, August 05, 2016 Cus - Conscious violation of law by Dy. Commr. - Refund to be allowed with interest - Commr. to call for an explanation and take further action - Costs imposed of Rs.10,000/-: High Court

Mumbai, August 05, 2016 ST - Sec 11BB of CEA, 1944 is intended to ensure accountability on part of Revenue officials - Withholding of interest will, therefore, only serve to encourage irresponsibility and non-responsiveness on part of tax authorities: CESTAT

Allahabad, August 05, 2016 I-T - Whether onus is on assessee to prove that case was wrongly selected for scrutiny on basis of directions of higher authorities without application of mind - YES: ITAT

Mumbai, August 05, 2016 Cus - Residual shelf life of medicine less than 60% - competent authority is vested with discretion to allow imports even below threshold � goods having been re-exported, action u/ss 111 & 112 was not entirely necessary: CESTAT

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