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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 14, 2015 RBI urges tax payers to pay income tax dues in advance to avoid last minute rush

Mumbai, November 14, 2015 Cus - Unloading of cargo from vessels carrying exclusively coastal goods - Refund of supervision charges was rejected solely on ground that supervision was provided as appellants had asked for the same - Supervision charges are statutory in nature, hence, it cannot be collected if it is not due: CESTAT

Mumbai, November 13, 2015 ST - CENVAT - Architect Services, Consulting Engineers & Management Consultancy Services used for construction of sports stadium are admissible input services as against output service of Renting of stadium: CESTAT

Mumbai, November 13, 2015 ST - Sale proceeds of auction of abandoned imported goods - In whole transaction no service recipient exists - Merely for reason that s. 150 of CA, 1962 provides for distribution of auction proceeds, that will not empower Govt to recover ST: CESTAT

New Delhi, November 13, 2015 I-T - Whether provisions of section 41(1) cannot be applied where assessee is simply acting on behalf of customers and earns consultancy fee for services rendered - YES: ITAT

Mumbai, November 13, 2015 CX - Lorry tanker cannot be termed as bulk pack & therefore transferring fatty acids into carboys of 90 litres cannot be said to be covered under Ch. note 5 to Ch. 38 so as to treat said activity as amounting to manufacture: CESTAT

New Delhi, November 12, 2015 Swachh Bharat Cess payable on all services which are provided on or after Nov 15, 2015: CBEC

New Delhi, November 12, 2015 Govt extends tenure of Dr Lahiri Panel by one year; Revenue Boards directed to issue clarification within 2 months�

New Delhi, November 12, 2015 Cus - Illegal import of High-end luxury cars by mis-declaring as new - Employee of CHA firm had suomotu acted for his personal greed beyond scope of duty and, therefore, employer cannot be penalized: CESTAT

Kolkata, November 12, 2015 I-T - Whether rental income derived by exploiting stock-in-trade or work-in-progress is to be treated as income from house property - YES: ITAT

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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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