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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, November 15, 2018 I-T - Compensation received by actor for damage to reputation is not deemed payment for contractual obligation where it entails no benefit arising from profession: ITAT

Chennai, November 15, 2018 I-T - Provisions of Black Money Act, 2015 get attracted only in case of undisclosed foreign income & asset and not assets purchased outside India from a source within India: HC

Ernakulam, November 15, 2018 GST - Law, at times, can be harsh, and Courts, usually, defer to legislative wisdom: HC

New Delhi, November 15, 2018 I-T - Revision of assessment order cannot be sought by skipping option of appeal against such order: HC

Mumbai, November 15, 2018 CX - LIC Logo printed on diaries does not establish any connection between goods and logo, hence cannot be said to be in course of trade: CESTAT

Shimla, November 15, 2018 I-T - Quantum of deduction claimed by taxpayer during previous years, is no benchmark to decide its allowability in future years as well: HC

New Delhi, November 14, 2018 I-T - Merely relying on statements recorded in survey, no addition for bogus purchases should be made during reassessment proceedings if genuineness of purchases are proved: ITAT

Mumbai, November 14, 2018 CX - Review committee having two CCs could have done a better job - manner in which appeal has been filed appears to be very mechanical without application of mind: CESTAT

New Delhi, November 13, 2018 ST - CENVAT credit admissible on Towers, shelter and accessories used for providing telecom services: HC

Mumbai, November 13, 2018 ST - Notfn. 40/2012-ST - Mere maintenance of account showing total quantum of tax paid cannot be construed as availment of CENVAT: CESTAT

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April 26, 2024

I-T - Assessee cannot be prevented from claiming that receipts from sale of software were wrongly offered as royalty, merely because such income was wrongly offered in ROI and which was not revised: ITAT

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