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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 Delhi, November 23, 2017 CX � Since principal manufacturer, after receipt of goods from appellant did not clear his final products on payment of duty, benefit of job work notification No. 214/86 will not be available to appellant: CESTAT

Mumbai, November 22, 2017 I-T - Short deduction of TDS under bonafide wrong impression, due to difference of opinion as regards taxability of any item, is no basis to declare Assessee as defaulter: ITAT

New Delhi, November 22, 2017 Though DEPB scripts are issued by DGFT, relevant notifications are for Customs exemption - Power to exempt would include power to demand in event such exemption is misused: CESTAT

Mumbai, November 22, 2017 It is settled position that once duty has been paid it is to be considered as reversal of cenvat credit availed: CESTAT

New Delhi, November 21, 2017 Power of attorney held by bureaucrat's relative for some time, will not pave way of additions in name of benami transaction, if bureaucrat was acquitted by competent court itself: HC

New Delhi, November 21, 2017 ST � Construction of residential units for army personnel - no tax liabilty arises: CESTAT

Mumbai, November 21, 2017 CX � Without issue of SCN it is not open to revenue to deny CENVAT credit in proceedings relating to refund u/r 5 of CCR, 2004: CESTAT

Mumbai, November 20, 2017 I-T - When there was breach of contract giving rise to claim relating to right of first refusal, damages received are not to be treated as revenue receipt: HC

Mumbai, November 20, 2017 CX � Provisions of erstwhile Rule 57CC are not same as Rule 6(6) of CCR as former dealt with 'products' while latter deals with excisable 'goods': CESTAT

Mumbai, November 20, 2017 Income tax - No Assessee can escape penalty in garb of technicality, if he splits his income receipts and defers same in two subsequent years: HC

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