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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, April 30, 2014 CX - Sec 11D has not been made retrospective expressly � even if a sum recognized u/s 11D had been collected a day prior to 20.09.1991 same not to be recovered u/s 11D as said provision came into effect only on 20.09.1991: HC

New Delhi, April 29, 2014 CX - Main appellants have settled dispute before Settlement Commission and have not been vested with any penal liability - in such a scenario whether imposition of penalties on present appellants who are only charged with colluding is justified - Difference of Opinion - matter referred to TM: CESTAT

Mumbai, April 29, 2014 Cus - It is well settled that date of entry inwards is date recorded as such in Customs Register and since in present case, application for date of entry inwards as also grant of entry inwards was on 01/03/2001, therefore, rate of duty that would apply is rate prevalent on 01/03/2001 - demand upheld: CESTAT

Ahmedabad, April 29, 2014 I-T - Whether when assessee makes a payment of Rs 20,000/- and above by crossed cheque but fails to add the word a/c payee only, such expenditure warrants disallowance u/s 40A(3)(a) - YES: HC

Mumbai, April 29, 2014 CX - Refund - if claimant himself has treated refund amount due as 'expenditure' and not as 'claims receivable', claimant cannot be said to have passed test of unjust enrichment: CESTAT

Mumbai, April 28, 2014 Cus - Whether u/s 112(a) of Customs Act, 1962 simultaneous penalties can be imposed on both Partner and Partnership firm - Matter referred to Larger Bench: High Court

Ahmedabad, April 28, 2014 CX - Duty paid on Zinc Dross by supplier would not partake character of excise duty, however, when Department did not dispute classification of such supplier manufacturer and accepted duties, CENVAT credit cannot be denied: HC

Mumbai, April 28, 2014 ST - Foreign parties requisitioning services of appellant to provide import-worthiness certificates of sample goods in India - consideration for such services paid in forex is not liable to ST: High Court

Jaipur, April 28, 2014 Income tax - Whether any disallowance u/s 40A(2) is warranted even assessee proves higher payment of salary to one of its key employees running critical business operations - NO: HC

New Delhi, April 28, 2014 Cus - FTP - Import of Digital Multifunction printing and photocopying machines prior to 6.6.2012 - whether licence required for importation - Matter referred to Third Member: CESTAT

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April 26, 2024

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