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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 York, July 28, 2013 World Hepatitis Day: A, B, C, D & E now kill 14 lakh people annually

Chandigarh, July 27, 2013 Cus - Revenue cannot retain any amount to which it is legally not entitled to as same would be violative of Article 265 � DRI directed to return Rs 8 Cr to petitioner within two weeks: HC

New Delhi, July 27, 2013 Moily justifies gas price hike; calls for higher investments in oil and gas sector

Hyderabad, July 26, 2013 I-T - Whether when assessee pays huge premium on investment in shares of its subsidiaries, the same can be treated as disguised loan - Case remanded: ITAT

New Delhi, July 26, 2013 CX - Appeals - Typical case where at every stage of litigation irrelevant legal principles were pressed into service resulting in colossal waste of time of adjudicators including time of this Court: Supreme Court

Mumbai, July 26, 2013 ST - Agreement is for cutting and transportation of sugarcane from farmer's fields to sugar factory and not for supply of any labour - by any stretch of imagination, it cannot be called supply of manpower - Appeal allowed: CESTAT

New Delhi, July 25, 2013 Preventive Detention order cannot be quashed merely because order remained unexecuted for long period: Supreme Court by majority

Ahmedabad, July 25, 2013 I-T - Whether when assessee, an SSI with value of plant worth less than Rs 1 Cr, excludes costs of spares, Revenue is justified to take aggregate value of all equipments to deny assessee Sec 80IB benefits - NO: ITAT

Mumbai, July 25, 2013 CX - Applicant issuing duty paying invoices without supplying goods - consignee taking CENVAT - case settled by Settlement Commission - contention that penalty not imposable in such circumstance is prima facie not sustainable: CESTAT

Mumbai, July 24, 2013 I-T - Whether role of Audit parties is to point out factual mistakes and not to advise AO on legal matters - YES: ITAT

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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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