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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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Allahabad, January 05, 2017 CX - Since SCN did not bring forward any evidence to establish that there has been collusion between appellant and service provider for evasion of ST and for availing inadmissible CENVAT credit, invocation of extended period is unsustainable: CESTAT

New Delhi, January 05, 2017 COFEPOSA - Detention valid even if one of many grounds is not sustainable, but other grounds are: Supreme Court

Mumbai, January 05, 2017 ST - In Works contract, there cannot be vivisection and calculation of tax under various categories of services - Appeal allowed with consequential relief: CESTAT

Bangalore, January 05, 2017 I-T - Whether each co-owner of joint property is obligated to offer capital gains tax on consideration received from sale of such property, in proportion to their shareholding - YES: ITAT

New Delhi, January 05, 2017 CX - Confiscation - Betel nut, being non-excisable commodity, not liable for confiscation under Rule 25 : CESTAT

New Delhi, January 04, 2017 Income tax - Whether provisions of deemed dividend Section 2(22)(e) get attracted even if HUF itself is not the registered shareholder - YES: SC

Mumbai, January 04, 2017 CX - Goods which are being cleared under Chapter X procedure have not suffered any duty payment - MODVAT Credit taken on inputs in r/o such goods is incorrect and has to be reversed: HC

Mumbai, January 04, 2017 CX - Clause (vi) of Notf 67/95 mandates that benefit is available if obligation prescribed in rule 6 of CCR is discharged - since appellant satisfies rule 6(1), benefit of Nil duty in r/o boxes manufactured for packing exempted toys is available: CESTAT

New Delhi, January 04, 2017 ST - Although non-compliance with s.78 does not per se invalidate penalty, given that option was not granted, and appellant had deposited substantial amount at adjudication stage, limited relief is justified: HC

Ahmedabad, January 04, 2017 I-T - Whether wrong grant of exemption by AO during assessment, can be sole basis to reopen such assessment beyond period of four years - NO: HC

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