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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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Kolkata, November 05, 2018 I-T - Reassessment notice sent by CIT u/s 263 at old address, bearing old name of assessee is not valid: HC

Ahmedabad, November 05, 2018 CX - Immunity from imposition of penalty cannot be expanded to cover cases of those who were not part of settlement proceedings: HC

Mumbai, November 05, 2018 MVAT Act, 2002 - Amendments made by Maharashtra Act No.XXII of 2009 do not apply to units whose cumulative quantum of benefits for sales tax incentives have been fully utilized before expiry of eligibility period: HC

New Delhi, November 03, 2018 I-T - If income from transfer of development rights arises in year in which terms of agreement are fulfilled, advance cannot be treated as income merely because approval is pending: ITAT

Mumbai, November 02, 2018 ST - Appellants were engaged by Court Receiver for guarding suit properties - activity is a sovereign function, not taxable: CESTAT

Mumbai, November 02, 2018 I-T - Investment of LTCG in triplex flats, where all three flats are situated at three different floors, is eligible for deduction u/s 54F: ITAT

Indore, November 01, 2018 VAT - Writ court cannot stike down certain enactment merely because it finds such law to be unreasonable: HC

Chennai, November 01, 2018 Cus - By not allowing exemption of IGST at time of import, no benefit in AA scheme is altered - choice of policy is for decision maker, Government, and not for Court: HC

New Delhi, November 01, 2018 I-T - Merely based on statements recorded u/s 132(4) and post-search enquiry, no addition can be made in respect of concluded proceeding when no incriminating material is found during search: ITAT

Mumbai, November 01, 2018 ST - Export of BAS - Procedure of retaining service charge/commission amount and remitting remaining portion of proceeds in foreign exchange is akin to receipt of monies in convertible foreign exchange: CESTAT

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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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