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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, July 25, 2018 I-T - If AO fails to carry out enquiry qua confession made during search pertaining to bogus entries of share capital for assessee, which is basis for initiating re- assessment, then CIT is correct in exercising power u/s 263: ITAT

Mumbai, July 25, 2018 CX - Merely because specific entry was inserted which covers those goods which are already specified earlier, it cannot be said that these goods prior to 01.06.2006 were not falling under third schedule - CE duty rightly demanded: CESTAT

Bengaluru, July 24, 2018 I-T - Tribunal can suo motu direct inquiry into buy-back at abnormally high price by assessee from foreign holding company although issue is not raised by either party: HC

Mumbai, July 24, 2018 ST - Once appellant's act of recovering consideration from its employees for providing canteen services falls under definition of term 'Service', then there is no ground to deny benefit of exemption Notfn. 14/2013-ST: CESTAT

Mumbai, July 24, 2018 I-T - Absence of dissolution clause under Trust Deed, will not disentitle a charitable trust to claim registration u/s 12A: HC

Mumbai, July 24, 2018 CX - Recovery - Tribunal is not in a position to adjudicate with regards dispute between partners of Company and partners in partnership firm: CESTAT

Kolkata, July 23, 2018 Income Tax - Mere signing of agreements & payment of consideration do not imply transfer of immovable property: HC

Kolkata, July 23, 2018 Income Tax - Payments made to evict sub-tenants to acquire full use of property is capital in nature as it results in assessee acquiring enduring right of possession over it: HC

New Delhi, July 23, 2018 GST - Withdrawal of discount by supplier does not amount to profiteering - Flipkart cannot be held accountable for contravention of Section 171 of CGST Act: NAA

New Delhi, July 23, 2018 I-T - Consolidation of appeals being heard expeditiously by different benches of ITAT and also without giving a notice to assessee is a vitiated decision: HC

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