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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, August 05, 2017 I-T - Obligation to collect tax u/s 206C(1C) cannot be extended to collection of octroi: HC

New Delhi, August 04, 2017 I-T - Provision for levy of interest u/s 201(1) & (1A) upon short deduction/non deduction of tax, is not penal in nature: HC

Chandigarh, August 04, 2017 I-T - Advances made to sister concern out of interest free funds, does not warrant disallowance of interest u/s 36(1)(iii), if it was commercially expedient decision: HC

Mumbai, August 04, 2017 ST - Very fact that amount is collected by virtue of an agreement shows that they are not in nature of tax, but income other than tax: CESTAT

Mumbai, August 04, 2017 CX - Mere filing of returns does not exempt appellant from consequence of law: CESTAT

New Delhi, August 03, 2017 I-T - Whether when activity of bottling of gas cylinders involves complex technical process, it necessarily falls within ambit of Production - YES: SC

Mumbai, August 03, 2017 I-T - Revaluation of assets by partnership firm on mere conversion into pvt ltd co, would not attract capital gains, if there was no transfer as defined u/s 47: HC

Mumbai, August 03, 2017 Rent pact has been entered between 3 persons & lessee - sum received by others cannot be clubbed with rent: CESTAT

Mumbai, August 03, 2017 CX - Rule 19 & Notifn 42/2001-CE nowhere lay down any condition of payment of foreign remittance against export of goods: CESTAT

Mumbai, August 02, 2017 ST - Merely because combined SCN covering various charges is issued, benefit of sec 73(1A) r/w s.s. 73(2) of FA, 1994 cannot be denied: CESTAT

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