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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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New Delhi, October 20, 2015 Cus - Court in exercise of judicial review powers cannot enter into domain of Policy making - mere possibility of abuse of law does not per se invalidate a legislation - grievance of petitioners is of misuse of Policy - Writ dismissed: HC

Allahabad, October 20, 2015 I-T - Whether transfer for purpose of Sec 50C stands consummated and provisions of 48 come into play as soon as agreement to sale is executed and part consideration is received - YES: HC

New Delhi, October 20, 2015 ST - Franchise service - No part of agreement gives slightest support to contention that it gave representational right to manufacturers to manufacture goods identified with appellant - Demand set aside: CESTAT

Mumbai, October 19, 2015 CX - Valuation - Sales Tax deferment scheme & option to pay prematurely NPV (Net present value) of deferred tax - Revenue view that differential between deferred sales tax payable and NPV paid would form part of AV is untenable: CESTAT

New Delhi, October 19, 2015 ST - Refund - Notfn 41/2007 - If documents provide necessary particulars as required under Rule 4A of STR, 1994, merely because documents are debit notes refund cannot be denied: CESTAT

Mumbai, October 19, 2015 ST - Residential buildings constructed by appellants are allotted by Power Station as residential quarters to employees - activity not covered under definition of 'Construction of complex' and, therefore, does not attract Service tax: CESTAT

Ranchi, October 19, 2015 I-T - Whether in block assessment case any legally sustainable addition can be made based on cash memo seized for broken period - NO: HC

Chennai, October 19, 2015 Central Excise - Classification - Holograms supplied to State Excise and Prohibition Department, Govt of Tamil Nadu - Classifiable under CETH 4901 - Not under 3919 - Demand set aside: CESTAT

Mumbai, October 18, 2015 Cus - Courier Regulations - There is no notice issued proposing revocation within meaning of Regulation 14 - Without any such proposal, choosing to suspend registration is illegal: High Court

Mumbai, October 18, 2015 ST - Appeal has been dismissed only on technical ground of non-production of requisite certificate or proof of room rent being charged and bills raised in that behalf - Tribunal should have granted opportunity to produce evidence - Matter remanded: High Court

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