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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 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 I-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITAT 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 Cus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTAT NY top court quashes conviction of Harvey Weinstein in rape case Weather prediction normal for phase 2 poll day IndiGo orders 30 Airbus A350s for long hauls ST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes REC avails SACE-Covered Green Loan for 60.5 Billion Japanese Yen Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide Cus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTAT DoNER discusses Development of Tourism in North East CX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT


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Chennai, August 04, 2018 CX - Printing names of customers on sacks along with packing of same amounts to manufacture: CESTAT

Mumbai, August 04, 2018 I-T - When valuation of property by stamp authority is higher than actual sale price, then before calculation of capital gain on such higher value, AO should refer capital asset to DVO for valuation even if not prayed for: ITAT

Kolkata, August 03, 2018 I-T - Since AO plays dual role of investigator as well as adjudicator, failure to examine nature of subsidy makes assessment order prima facie prejudicial to interest of Revenue : ITAT

New Delhi, August 03, 2018 CX - Presuming that since o-in-o despatched by Division Office was received by Range Office/HQ and Review branch within 10-15 days, assessee too should have received same since located in same city is without any basis: CESTAT

Bangalore, August 02, 2018 CX - A manufacturer, who exports final products which are exempt from duty, under bond and LUT, in terms of rule 19 of CER, 2002, can claim refund of CENVAT in terms of rule 5 of CCR, 2004: HC

Mumbai, August 02, 2018 Cus - Court cannot be left to guess as to whether authority concluded that either fraud is proved or that parties like petitioner is guilty of suppression of facts or misrepresentation: HC

Allahabad, August 02, 2018 I-T - As per amended Sec. 145A, computation of valuation of closing stock of finished goods will include any excise duty & cess which was payable or incurred by assessee towards such goods: HC

Chennai, August 02, 2018 ST - When basic allegation is that assessee is NBFC, Commr. has traversed beyond scope of SCN to confirm demand by concluding that appellant is covered under category of 'any other person' : CESTAT

New Delhi, August 01, 2018 I-T - Revenue cannot initiate re-assessment repeatedly on basis of same Tax Evasion Petition which has failed in the past: HC

Mumbai, August 01, 2018 CX - Branded goods manufactured in Goa unit situated in 'rural area' and exemption availed - no cause for clubbing clearance value of Goa unit with that of Mumbai unit where SSI exemption availed: CESTAT

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