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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, May 02, 2016 CX - Notfn 10/97 - Air conditioning & refrigeration equipment supplied to R&D Cell of Defence Ministry & modified as a result of research for use in specialized mobile operation theatres for use by Indian Army in field are entitled for exemption: CESTAT

New Delhi, May 02, 2016 I-T - Whether Revenue can resort to adjustment of pending demand against refund due to assessee without issuing notice u/s 245 - NO: HC

Ernakulam, May 02, 2016 Petition challenging ST on �admission & access to entertainment event and amusement facilities� - No trenching of Parliament on power conferred on State - two aspects taxed by respective legislatures are 'service' and 'amusement�: HC

New Delhi, May 01, 2016 Real Estate Regulation Act comes into force today; Rules to be notified in six months; Tribunals to be set up in one year; 69 Sections notified

New Delhi, April 30, 2016 Global FDI up by 25% to USD 1.7 trillion in 2015; Inflows for G20 countries up by 26%

New Delhi, April 30, 2016 House Panel calls for complete revamp of CAG Act; recommends CAG appointment to be outside the purview of Executive

New Delhi, April 29, 2016 I-T - Whether stay of special audit u/s 142(2A) would qualify as stay of assessment proceedings for determining limitation period for conducting block assessment - YES : Supreme Court

New Delhi, April 29, 2016 Cus - Since application filed for settlement was allowed to be proceeded with by CCESC u/s 127C(1), it had exclusive jurisdiction in terms of s.127F(2) and DRI could not have issued any corrigendum/addendum to the SCN: HC

New Delhi, April 29, 2016 CX - It is not possible for Court, in exercise of its jurisdiction under Article 226 of Constitution, to modify mandatory conditions set out in Section 35F of CE Act on any ground whatsoever: HC

Mumbai, April 28, 2016 Cus - Duty drawback - It is not a case of an established and proved fraud but an alleged fraud - Revenue cannot rest only on freezing of bank accounts- No justification for continued action - Bank a/c to be released within 48 hrs: HC

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