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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, October 20, 2014 CX - Supplier delaying payment of duty on capital goods - interest u/s 11AB for period from date of availment of credit to date of payment of duty is on supplier manufacturer and not on respondent: CESTAT

New Delhi, October 19, 2014 CCEA approves New Domestic Gas Pricing Policy

New Delhi, October 19, 2014 Cabinet okays framework for relaxations & extensions of PSC regime for early monetization of hydrocarbon discoveries

Chennai, October 19, 2014 Cus - High Protein Poultry Mash is preparation used in animal feeding and is rightly classifiable under Ch. 2302 of CETA or Ch. 2309 of CTA & not under 23.01 of CETA, 1985 - Appeals rejected: CESTAT

Chennai, October 18, 2014 Cus - In spite of appellant being registered STPI unit, SVB examined relationship - principal supplier has not sold goods to any third party but supplied to affiliated companies only, loading of nominal profit of 1% would suffice: CESTAT

New Delhi, October 18, 2014 Swiss Revenue agrees to share information on names figuring in HSBC stolen data; Centre moves SC on confidentiality of tax treaty data

Mumbai, October 17, 2014 ST - Delay in payment of tax - Merely, because CENVAT credit is available in books of accounts, it does not mean that tax has been paid - demand of interest upheld - Revenue appeal allowed: CESTAT

Mumbai, October 17, 2014 CENVAT - Rule 7 - Prior to 01/04/ 2012 there was no bar on an Input service distributor to distribute credit which pertains to one unit to another unit - Credit rightly taken - Appeal allowed: CESTAT

Chennai, October 17, 2014 I-T- Whether penalty is warranted when assessee was under bonafide impression that he was 'person resident outside India' as defined under FEMA and has not offered interest income for tax due to wrong interpretations of law - NO: ITAT

Bern, October 16, 2014 Revenue Secretary leads delegation to Swiss Capital; urges counterpart to conclude AEOI on priority

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