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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, October 04, 2017 ST - When cost of any input service forms part of cost of final product, then credit of Service Tax paid on such input services would be allowable: HC

New Delhi, October 04, 2017 CX - For its own fault, Department cannot take advantage: CESTAT

Chennai, October 03, 2017 CX - It is not sufficient in a judgment, to give conclusions alone, but it is necessary to give reasons, in support of conclusions arrived at: HC

New Delhi, October 03, 2017 Narrow escape for noted lawyer Mr Salve; ITAT deletes penalty; rules deferral of depreciation benefits does not amount to concealment of income

New Delhi, October 03, 2017 ST - After leasing of property, it is up to lessee to carry out repair and maintenance - consideration on that count does not flow from lessee to lessor-demand not sustainable: CESTAT

New Delhi, October 03, 2017 CX - Rule 6 of Valuation Rules, 2000 - Design is 22 years old where copyright is not applicable and it was available in public domain, so, 'nil' value can be added: CESTAT

Chennai, September 30, 2017 CX - Tribunal has failed to address issue regarding cross examination of witnesses, therefore, order set aside and matter remanded: High Court

New Delhi, September 29, 2017 Local Body Tax - An attempt to e-recharge SIM Cards does not attract LBT: HC

New Delhi, September 29, 2017 I-T - Signature bonus received as compensation for losing a profit-making apparatus is not taxable as capital gains: ITAT

Ahmedabad, September 29, 2017 I-T - Payment of 'Admitted tax liability' u/s 140A, through Revised return, will not obliterate default committed in original return, and hence penal consequenses will follow u/s 221(1): ITAT Special Bench

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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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