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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 I-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITAT 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 Cus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTAT NY top court quashes conviction of Harvey Weinstein in rape case Weather prediction normal for phase 2 poll day IndiGo orders 30 Airbus A350s for long hauls ST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes REC avails SACE-Covered Green Loan for 60.5 Billion Japanese Yen Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide Cus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTAT DoNER discusses Development of Tourism in North East CX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT


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New Delhi, January 16, 2015 Sales Tax - Official Liquidator is a dealer liable to pay tax: Supreme Court

Chennai, January 16, 2015 I-T - Whether when assessee is engaged in business of race horses and has betting income it cannot set off losses incurred in earning such income - YES: HC

New Delhi, January 16, 2015 CX - Rule 16 does not require maintenance of any records - Returned goods have to be treated as inputs and assessee having shown issuance of said inputs from RG-1 are deemed to have manufactured final product - CENVAT reversal cannot be sought: CESTAT

Mumbai, January 15, 2015 ST - If reason for waiving penalty u/s 80 are that there was confusion about scope of leviability under reverse charge mechanism, then, it is same confusion because of which appellants had not declared fact of receiving service by way of import - Demand time barred: CESTAT

Hyderabad, January 15, 2015 Income tax - Whether finding that there was no distribution of assets leads to conclusion that there was no transfer of assets at all - NO: HC

New Delhi, January 15, 2015 FERA - Belated retraction of Confession rejected - Penalty upheld: High Court

Hyderabad, January 14, 2015 Transfer of SFIS duty credit scrips among Group Cos - Interpretation of 'Group Company' under para 9.28 of FTP - DGFT cannot introduce something which is not envisaged in FTP and impose additional restriction: HC

Kolkata, January 14, 2015 Income tax - Whether inter-corporate deposits can be considered as part of loans and advances and same attracts provisions of Sec 2(22)(e) - NO: ITAT

Mumbai, January 14, 2015 ST - Services to members of club or cooperative housing society is not service by one to another - not chargeable to service tax: CESTAT

Mumbai, January 13, 2015 CX - Brand name Ribbons & Balloons belonged to Bharat Cafe - Fact that Bharat Cafe were not manufacturer or trader or seller of said goods at relevant time is of no consequence - benefit of SSI exemption not available to appellant: CESTAT

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April 26, 2024

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