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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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New Delhi, May 01, 2014 Income tax - Whether losses can be carried forward even if legal personality of an entity gets extinguished and whether new entity can set off losses of non-existent 'person' by filing return on its behalf - NO: Supreme Court

Kolkata, May 01, 2014 CX - electricity consumption cannot be only factor or basis for determining duty liability - Stay Order of Tribunal - Appeal or Writ?

Mumbai, May 01, 2014 ST - Onshore Terminal is not Transport terminal hence is not excluded from levy of ST under Industrial Construction Service - concept of transport terminal is relevant for transportation by air, sea, road & not for transporting gases through pipelines - Afcons Infra loses case in CESTAT

Allahabad, May 01, 2014 CX - Rebate - Restrictions in relation to period imposed by CBEC Circular NO 354/1997 are not valid - Refund claims to be processed by ignoring Circular: HC

Chandigarh, May 01, 2014 I-T - Whether quashing of proceedings by ITAT for faulty service of notice under Ss 148, 143(2) & 142(1) amounts to allowing assessee to go scot-free even if he is liable to pay capital gains tax - YES: HC

New Delhi, May 01, 2014 Cus - Import of old photocopier - whether TV should be adopted as AV or should it be arrived on basis of Chartered Engineer certificate - whether RF & penalty can be reduced to 10% & 5% res. - Matter referred to TM: CESTAT

Mumbai, April 30, 2014 Cus - Except for fact that appellant sold security seals to non-existent firm, there is nothing on record to show that appellant had any knowledge that security seals sold by him would be misused for sealing containers in which red sanders would be stuffed - stay granted: CESTAT

Mumbai, April 30, 2014 Cus - Revenue alleged respondent imported Modems in CKD form - from evidence it cannot be said that parts imported are not further worked upon - there is also no suppression since respondent has not misdeclared goods: CESTAT

Chennai, April 30, 2014 CST - Error apparent - If interstate sale not covered by Form C, tax rate to be equivalent to VAT rate applicable in particular State - Interstate sale without Form C - Application of wrong rate by grouping all items - Application for rectification not considered - Department directed to consider it: HC

Mumbai, April 30, 2014 Income tax - Whether, for purpose of block assessment, it is necessary that name of assessee must figure in warrant of authorisation u/s 132 - YES: HC

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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

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April 26, 2024

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April 26, 2024

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