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India-bound oil tanker struck by Houthi’s missiles in Red Sea RBI issues draft rules on digital lending CRPF senior official served notice of dismissal on charges of sexual harassment UN says clearing Gaza mounds of rubble to take 14 yrs Blinken says China trying to interfere US Presidential polls 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 - 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


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Chennai, June 21, 2018 ST - Refund - Rule 5 of CCR, 2004 - No provision in CCR imposes restriction of requirement of registration as condition precedent for claiming CENVAT credit: CESTAT

Mumbai, June 20, 2018 ST - There is distinction between interest earned by bank and disaggregation of equated monthly instalments earned by financial institution engaged in financial leasing and hire-purchase: CESTAT

Mumbai, June 20, 2018 ST - Fitment within an alternative classification suffices to erase proposal in the notice but cannot crystallize liability unless alternative was also proposed in notice: CESTAT

Ahmedabad, June 20, 2018 I-T - When statements taken during search are based on documents indicating that assessee collected cash receipts in addition to cheques, such situation comes within sweep of Explanation 5A(b) to Sec. 271(1)(c): ITAT

Mumbai, June 20, 2018 ST - Notfn. 12/2003-ST speaks of 'value' of materials and not 'cost' of materials - no reason to demand service tax on 10% profit at which material is sold by appellant: CESTAT

Chennai, June 19, 2018 I-T - Revenue officials cannot enforce reopening notice issued in name of deceased taxpayer, by taking excuse of their ignorance about death of taxpayer: HC

Bengaluru , June 19, 2018 VAT - Onus of proving genuineness of claim for input tax credit rests with assessee & cannot be shifted on to Revenue: HC

Mumbai, June 19, 2018 ST - POPS, 2012 cannot be applied to refund being claimed in terms of Rule 5 of CCR, 2004 and to interpret export of service: CESTAT

Chandigarh, June 19, 2018 I-T - Surrender of undisclosed income in response to notice u/s 153A pursuant to search proceedings is tantamount to 'deemed concealment' & attracts penalty: ITAT

Mumbai, June 19, 2018 Cus - Since Project Import Regulations, 1986 do not mandate any condition that importer should have entered into a contract with foreign supplier, same cannot be imposed by Customs Manual: CESTAT

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