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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, December 18, 2013 I-T - Whether when AO has himself given tax credit to individual members of AOP for tax paid on surrendered undisclosed income, any penalty u/s 271AA is warranted - NO: Delhi HC

Mumbai, December 18, 2013 CX - Polycarbonate bottles used for packing drinking water cut into pieces and sold as scrap - If by continuously using an item, said item becomes scrap, it cannot be said that so-called waste is manufactured product: CESTAT

New Delhi, December 17, 2013 Service tax refund: Shome Panel plays role in simplifying procedures and issuance of clarifications

Kolkata, December 17, 2013 CENVAT - Rule 2(l) - Whether Outward transportation of finished goods from place of removal is covered by definition of 'Input Service' before 01.04.2008 - Calcutta HC refuses to accept Karnataka HC decision in ABB Ltd. allowing credit on GTA service

Kochi, December 17, 2013 Whether for purpose of valuation of renovation and cost of construction, when State PWD rates are not available, Revenue can rely on CPWD rates - NO: HC

New Delhi, December 17, 2013 Condonation of delay - Delay due to pursuing litigation before a wrong forum - Whether can be condoned - Matter goes to Third Member

Mumbai, December 16, 2013 ST - Providing Advisory services is Management Consultancy Service - Demand upheld & appeal dismissed: CESTAT

New Delhi, December 16, 2013 I-T - Whether when assessee makes payments to builder for purchase of flat but builder fails to give delivery as per scheduled time, Sec 54F benefits are available even in such a case - YES: ITAT

Mumbai, December 16, 2013 CX - Even if appellant has paid duty wrongly or illegally, once same has not been refunded, they cannot be denied CENVAT credit - Pre-deposit waived & Stay granted: CESTAT

New Delhi, December 15, 2013 Insurance Repositories System to benefit policy holders: Minister

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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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