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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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Bangalore, January 11, 2018 I-T - Expenditure strictly related to earning of income from other sources is to be allowed u/s 57(iii): ITAT

Ahmedabad, January 10, 2018 Cus - Cause for filing application for refund arose only when the export actually failed - Interpretation that would lead to anomalous and unintended consequences must be avoided: High Court

Chennai, January 10, 2018 I-T - Mere 'use of certain software' by any entity in its operating system, will not make it 'capital asset'; Enduring benefit is no crieteria to determine nature of expenses in such cases: ITAT

Mumbai, January 10, 2018 ST- Advance amount was received by assessee as security/guarantee amount - no service tax liability: CESTAT

Mumbai, January 09, 2018 Cus - Letter communicating decision of Commissioner allowing provisional release is decision taken by adjudicating authority and is appealable to Tribunal: HC

New Delhi, January 09, 2018 I-T - No depreciation on intangible asset can be availed on non-compete fees paid for acquiring 'going concern' : ITAT

Mumbai, January 09, 2018 Law of limitation has no application in case of ST law being complete code, where not only limitation period but also grounds for condonation are prescribed - Callous approach, hence application dismissed: CESTAT

Mumbai, January 09, 2018 Cus - Defiance of orders of Tribunal by field formation in West Zone - Member (Customs) requested to issue appropriate direction to field to co-operate: CESTAT

Mumbai, January 09, 2018 ST - Taxing provision should be considered strictly without leaving any intendment - It is inconceivable how an activity not being covered by fold of law shall be taxable beyond its mandate: CESTAT

New Delhi, January 08, 2018 I-T - Binding force of Jurisdictional HC decision is not lost merely on ground that SC dismissed SLP filed against non-Jurisdictional HC decision on same issue: ITAT

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