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Customs - First Schedule - Chapter 98 - Clarificatory explanation on 'laboratory chemical' inserted Kentucky Sheriff accused of shooting dead District Judge inside courthouse Cus - Gold seized from appellant & auctioned without considering cogent evidence furnished; seizure invalidated, auction proceeds be refunded with interest: CESTAT India grants USD 50 mn budgetary support for one more year to Maldives CX - Rule 4 of Central Excise Valuation Rules 2000 are rightly invoked where assessee suppresses material facts about clearance of finished goods to related entity: CESTAT TMC disowns Minister’s statement that women were drinking during protest ST - For the amenities provided by service recipient, the cost thereof cannot be included in assessable value of service in hands of appellant being service provider, therefore, demand is not sustainable: CESTAT China, India are not rivals rather cooperators, says Chinese envoy I-T - Revenue is not permitted to express different opinion based on very same facts disclosed during original assessment proceedings: HC India trashes report on Indian ammunition reaching Ukraine I-T - No distinction to be made between direct and indirect expenses that are eligible for deduction under Section 35 D of the Income Tax Act: HC Biden hopeful of further cut in rates by Fed I-T - Non-investment of sale consideration or portion thereof in designated capital gains would not come in way of assessee claiming exemption so long as assessee had invested said amount for construction: HC Lanka to go to polls for New President tomorrow I-T - Assessee sought repeated adjournments without valid reason; costs of Rs 2000/- per appeal imposed on assessee; nevertheless, case remanded for de novo hearing, given tight scheduling of notices & interests of justice: ITAT Israel incinerates 1000 rocket launcher barrels of Hezbollah I-T - Interest received by credit cooperative society from investment held, cannot be treated as it's operational income, as interest received is not from credit facilities provided to its members as envisaged u/s 80P(2)(a)(i): ITAT SEBI hammer falls on Axis Capital; Ban imposed from acting as investment banker in debt market I-T - Where DVO has power to estimate value independently & fails to do so, then PCIT's action to seek fresh report & revise the assessment, is outside scope of Section 263: ITAT CJI asks lawyers to use SC Platform for recorded orders NPS Vatsalya - FM launches pension scheme for minors IP Saarthi - Govt launches AI/ML-based search engine for Trademarks NACIN hosts 3-day roundtable on IPR; Govt envisages greater role of Customs in IPR protection US Presidential Poll: Tall promises by Hopefuls elbow economy closer to tax-doom-loop!Fed lives up to global expectations; cuts interest rate by 0.5% - first cut in last 4 years Mandaviya chairs meeting to provide Social Security to Gig and Platform Workers CAQM announces revised GRAP schedule for Delhi-NCR


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Mumbai, February 17, 2015 ST - Sponsorship of sporting events were excluded from levy of ST - however, since appellant had wrongly collected ST from sponsors, they were required to pay same in cash - CCR, 2004 does not provide for utilisation of CENVAT credit for payment of amount specified in section 73A (2): CESTAT

Hyderabad, February 16, 2015 ST - Works Contract - Back to back agreement with sub-contractor - No works contract service provided by main contractor as deemed transfer of property in goods is between sub-contractor and contractee: CESTAT

Mumbai, February 16, 2015 Income tax - Whether when developer sells one-BHK flats and buyers merge them into one after purchase, developer would lose Sec 80IB(10) benefits merely because merged flats exceed the limit of 1000 sq feet - NO: ITAT

Mumbai, February 16, 2015 ST - Repairs Service - Appellant is providing services of repairs & maintenance of xerox machines on behalf of Modi Xerox who are his client - such service is liable to tax under 'Business auxiliary service' w.e.f. 10.09.2004 and not earlier - Demand set aside: CESTAT

Mumbai, February 16, 2015 Cus - Sampling size required for testing 'Latex Prophylactic Condoms' is 315 pieces whereas Drugs Testing Lab, Chennai took sample size of 45 pieces and this is serious discrepancy while concluding that goods were sub-standard - appeal allowed: CESTAT

Pune, February 15, 2015 Govt working on measures to infuse elements of predictability in policies and 'Ease of Doing' Business

New Delhi, February 14, 2015 BIS to develop Standards for Solid Waste Management and potable Drinking Water

Mumbai, February 14, 2015 ST - Assessee has allowed M/s Talreja Trade to use its brand name 'Pahili Dhar' for marketing 'country liquor' - minimum guarantee of profit per month assured by agent to assessee has been misunderstood as 'Royalty' which is not the fact - no Intellectual Property Service given: CESTAT

Jaipur, February 13, 2015 Income tax - Whether when AO fails to pinpoint any specific defect in expenditure claim except that claims were made on self-made vouchers, such expenses are to be disallowed even if they were incurred for business - NO: ITAT

Mumbai, February 13, 2015 Refund - when no ST is required to be paid on exports, sum debited in CENVAT a/c is required to be restored & sum paid in cash to be refunded - unjust enrichment does not arise in case of export of services: CESTAT

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Trademarks Act - Suit for Permanent injunction can be filed for defamation, damage to reputation and tarnishment of brand equity, brand dilution, infringement of registered trademark made on social media platform: HC

September 19, 2024

IBC - obstruction of implementation of resolution plan and forfeiture of share application money passing it as performance guarantee money was not unwarranted and unreasonable: NCLAT

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