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I-T- Denial of deduction u/s 80IC can create perception of genuine hardship, where claimant paid tax in excess of what was due; order denying deduction merits re-consideration: HC Israel launches missile attack on Iran EC holds Video-Conference with over 250 Observers of Phase 2 polls Germany disfavours Brazil’s proposal to tax super-rich I-T- If material found during search are not incriminating in nature AO can not made any addition u/s 153A in respect of unabated assessment: ITAT Govt appoints Dinesh Tripathi as New Navy Chief AFMS, IIT Kanpur to develop tech to address health problems of soldiers FBI sirens against Chinese hackers eyeing US infrastructure I-T - Interest earned on short term deposit out of borrowed funds during period prior to commencement of business, is totally foreign to business objects of assessee, and not eligible for set off: ITAT Kenya’s top military commanders perish in copter crash CBIC notifies Customs exchange rates w.e.f. April 19, 2024 Meta shares ‘Most Intelligent’ AI assistant built on Llama model ST - Service Tax paid in respect of export of services and cannot be subject to levy of Service Tax under Notfn 18/2009-ST, denial of exemption on procedural lapses cannot be sustained: CESTAT Dengue cases soaring in US - Close to ‘Emergency situation’: UN Agency Nexus between Election Manifesto and Budget 2024 in July!Half of China’s major cities sinking, reveals Study CX - The warranty service is eligible for credit though the same is provided after clearance of final products: CESTAT


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New Delhi, October 08, 2015 Cus - CVD - Notfn. 4/2006-CE which exempts only 'Ores' would not include 'concentrates' because of reason that after the insertion of Note 4, concentrate is to be treated as different product than ores, in law for purposes of products of Chapter 26 - Appeal dismissed: Supreme Court

Mumbai, October 08, 2015 CENVAT Credit availed by appellant's predecessor in respect of capital goods which were removed by appellant to their sister unit - no provision in CCR to demand duty from appellant: CESTAT

New Delhi, October 08, 2015 I-T - Whether income derived from foreign exchange fluctuation gain can be classified as 'any other receipts of similar nature' so as to justify exclusion while computing deduction u/s 80HHF - NO: ITAT

Chennai, October 08, 2015 Transfer of CENVAT Credit of Additional duty of Customs (SAD) under Rule 10A of CCR, 2004 - It is permissible to transfer credit accumulated before 01.04.2012: CESTAT

New Delhi, October 07, 2015 Cabinet approves Protocols for LOB and exchange of information in India-Israel & India-Vietnam DTAAs

New Delhi, October 07, 2015 NDPS - When a minimum punishment is prescribed, no court can impose lesser punishment: Supreme Court

Mumbai, October 07, 2015 ST - Clinical testing of new drugs - Explanation inserted in definition 65(106) w.e.f 01.05.2006 expounded scope of definition and, therefore, it cannot be clarificatory in nature - Explanation is effective prospectively only: CESTAT

Ahmedabad, October 07, 2015 I-T - Whether activity of embroidery work on sarees constitutes manufacturing activity as character of saree changes and it does not remain original grey synthetic cloth - YES: ITAT

Mumbai, October 07, 2015 CX - Conversion from EOU to DTA - Rule 11(3) will apply only in situation where final products are exempted and lying in stock - no requirement to reverse carry-over of unutilized credit lying in balance: CESTAT

Allahabad, October 06, 2015 CX - Payment of duty under protest - Tribunal and Revenue have committed manifest error in rejecting refund on ground that no protest letter was filed in accordance with procedure prescribed under Rule 233B: HC

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I-T- Onus of establishing receipt of services from Associated Enterprise has to be discharged on year to year basis by assessee company: ITAT

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