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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, May 15, 2014 Income tax - Whether when AO allows an expenditure as revenue in nature during original assessment, any attempt to treat same as capital expenditure in reassessment would amount to change of opinion - YES: HC

Ahmedabad, May 15, 2014 Cus - Refund - Deposit made before adjudication and appropriated in O-in-O - If there is a contest to demand, amount remains as deposit and doctrine of unjust enrichment is not applicable: CESTAT

Mumbai, May 15, 2014 ST - Commissioner (A) has fallen into error in taking certain figures given by respondents instead of examining invoice wise or transaction wise details - Matter remanded: CESTAT

New Delhi, May 14, 2014 Whether even after a judgement is pronounced and dictated in open court, it can be recalled or reviewed - YES, says SC Larger Bench

Mumbai, May 14, 2014 A firm which is not human entity cannot remain on tour and seek condonation of delay - Application dismissed: CESTAT

Kolkata, May 14, 2014 ST - Appellant places before Bench 19 bundles of documents comprising of contracts running into 2600 pages which they failed to produce before authority - matter remanded - Rs 25 lakh pre-deposit ordered: CESTAT

Mumbai, May 14, 2014 RBI urges income tax payers to pay dues in advance; tax can be paid through 29 authorised bank branches

New Delhi, May 14, 2014 Shome Panel refers 29 direct tax and 47 indirect tax related issues to Revenue Boards for resolution

New Delhi, May 13, 2014 Private Cos using public resources: First Report on telecom audit to be ready by year-end: CAG

Mumbai, May 13, 2014 ST - Security Services - ONGC not paying to assessee will not make any difference as far as liability to pay ST to Govt is concerned - appellant is liable to pay ST on gross amount including salary, EPC, ESIC: CESTAT

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April 26, 2024

I-T - Assessee cannot be prevented from claiming that receipts from sale of software were wrongly offered as royalty, merely because such income was wrongly offered in ROI and which was not revised: ITAT

April 26, 2024

I-T- Proceedings commenced subsequent to exercise of revisionary power u/s 263, are unsustainable, where the revisionary order itself came to be quashed: ITAT

April 26, 2024

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