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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, February 22, 2018 I-T - It is clear case of barking up wrong tree if Revenue records show no tax arrears against assessee: HC

Mumbai, February 22, 2018 CX - Rule 5 of CCR, 2004 applicable only to physical exports : CESTAT

New Delhi, February 21, 2018 I-T - If assessee debits lease equalisation charge in P&L account, such an act is in sync with statutory requirement of Sec 211 of Companies Act: HC

New Delhi, February 21, 2018 I-T - Even deemed service of notice satisfies requirements of Section 143(2): Supreme Court

Mumbai, February 21, 2018 I-T - When Revenue had accepted assessee as investor in previous year, it cannot change his status to trader merely because he made some profit on shares: ITAT

Mumbai, February 21, 2018 ST - Transport of goods by air � Tax payable during period 10.09.2004 to 16.09.2004 and 16.6.2005 to 14.07.2005 as there was no exemption from payment of such tax during said period: CESTAT

Mumbai, February 21, 2018 CX - There is no provision under CCR, 2004 for denial of credit on ground that assessee has admittedly deployed inputs in excess of ideal for achieving desired output level: CESTAT

New Delhi, February 20, 2018 ST - Supreme Court agrees with Larger Bench CESTAT decision in Bhayana Builders - Revenue appeals dismissed

New Delhi, February 20, 2018 I-T - Incriminating evidences obtained prior to date of search, cannot be roped in to make additions in case of unabated assessments: ITAT

Mumbai, February 20, 2018 ST � World Bank and International Finance Corporation are part of United Nations, therefore, there is no need to resort to definition of International Organization for extending benefit of notification 16/2002-ST: CESTAT

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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

April 26, 2024

I-T- Proceedings commenced subsequent to exercise of revisionary power u/s 263, are unsustainable, where the revisionary order itself came to be quashed: ITAT

April 26, 2024

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