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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 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 I-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITAT 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 Cus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTAT NY top court quashes conviction of Harvey Weinstein in rape case Weather prediction normal for phase 2 poll day IndiGo orders 30 Airbus A350s for long hauls ST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes REC avails SACE-Covered Green Loan for 60.5 Billion Japanese Yen Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide Cus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTAT DoNER discusses Development of Tourism in North East CX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT


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Mumbai, March 21, 2016 I-T - Whether mere fact that an issue was not discussed in assessment order would not ipso facto lead to conclusion that AO did not apply his mind - YES: HC

Mumbai, March 21, 2016 Service Tax liability on 'Management Consultancy Services' was in nascent stage when Audit Party brought to knowledge of appellant that ST liability arises, which was discharged immediately - Penalties not sustainable in view of s.80: CESTAT

Mumbai, March 20, 2016 ST - Contractual privileges of an employer-employee relationship are outside purview of ST - Activity of appellant to provide accommodation to staff members does not come within definition of Renting of Immovable property service: CESTAT

Mumbai, March 19, 2016 ST - Nothing is brought on record to show that findings were inconsistent with facts of case - ROM application dismissed: CESTAT

New Delhi, March 19, 2016 Small Savings Schemes - Govt to reset interest rates every quarter; lowers rate for PPF, NSC and KVP

Mumbai, March 18, 2016 ST - Tax paid on Reverse Charge - ST liability needs to be discharged only on amounts which have been billed by service provider - no cause for fastening tax liability on TDS paid by appellant: CESTAT

Mumbai, March 18, 2016 ST - Merger & Acquisitions is covered under Banking and Financial Services and, therefore, Service Tax liability arises only w.e.f. 16.07.2001 and not prior to that date - Appeal allowed: CESTAT

New Delhi, March 18, 2016 I-T - Whether credit entry made against cheque which was not encashed by vendor is to be treated as extinguishment of liability and hence to be construed as trading receipts in the hands of assessee even if parties have not waived their right to receive payment - NO: ITAT

Mumbai, March 18, 2016 CX - As respondents are procuring raw materials viz. tapes, without payment of duty, they are not entitled to benefit of Notfn. 6/2002 as they would not have fulfilled condition 34 - consequently, exemption Notfn. 13/98 not available: CESTAT

Mumbai, March 17, 2016 CX - Appellant have raised two invoices, one towards sale of machines & second for integration and commissioning - Integration & commissioning is an independent activity which can be performed either by appellant or any outside agency, hence not includable in AV: CESTAT

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