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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 08, 2014 Cus - Since assessment of duty liability has to be done by Customs, notwithstanding fact that appellant did not claim benefit of exemption, same should have been extended to respondent importer: CESTAT

Mumbai, October 07, 2014 ST - 'Joint Lead Manager' who purchased GDR's cannot be considered as 'underwriter' providing 'underwriting service' - services are correctly classifiable under Banking Services - Demand of Rs 1.67 Cr on Axis Bank upheld: CESTAT

Mumbai, October 07, 2014 ST - Services provided by person in his capacity as sub-contractor is not liable to service tax - opinion of Third Member in Sunil Hi-tech Engineers is per incuriam - respondent assessee entitled to refund - Revenue's appeal dismissed: CESTAT

Mumbai, October 07, 2014 ST - Services received of development, maintenance and installation of software systems are IT Software services & cannot be said to be covered under BAS as 'customer care service' - Appeal allowed: CESTAT

Chennai, October 07, 2014 Income tax - Whether, for purpose of claiming Sec 10B benefits, it is necessary to obtain approval of STPI authority - YES: HC

Hyderabad, October 07, 2014 Central Excise - Appeals - Commissioner (Appeals) should not have expressed an opinion different from order of High Court: Andhra Pradesh HC

Mumbai, October 06, 2014 ST - Appellant is not providing any technical aid or consultancy service to ONGC as they are not analyzing any data collected by them - such activity does not qualify under Consulting Engineer, hence, ST not payable: CESTAT

New Delhi, October 06, 2014 I-T - Whether collection of innovative ideas and development of academic gadgets for nursery school can be construed as technical knowhow and thus, depreciation is allowable - NO: ITAT

Mumbai, October 05, 2014 Cus - Restricted goods when imported under Customs Bond for purpose of re-export, provision of Insecticides Act is not attracted - Appeal allowed with consequential relief: CESTAT

Mumbai, October 04, 2014 Cus - Decision pertaining to GST cannot be applied to import transaction - Customs duty is destination based tax and levy is imposed where goods are consumed - since pipe lines are used in India, they are liable to duty: CESTAT

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