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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, December 20, 2016 ST - Validation by FA, 2011 is to accord retrospective exemption to same class of providers to which Central Government did, within its powers, accord prospective exemption: CESTAT

Ahmedabad, December 20, 2016 I-T - Whether compensation & interest awarded to an assessee in pursuance of acquisition of his land for public purposes under provisions of Land Acquisition Act, can be subjected to Income Tax - NO: HC

Mumbai, December 20, 2016 ST - Appellant does not cease to be 'outdoor caterer' merely because services have been provided at premises provided by service recipient: CESTAT

Mumbai, December 20, 2016 CX - As long as credit is not retained for utilization at later stage, condition of non-availment of credit has been complied with - lump sum reversal at end of month suffices: CESTAT

New Delhi, December 19, 2016 I-T - Whether if non-compete fee is received as salary, any obligation to pay interest under Sections 234B & C, arises - NO: SC

Mumbai, December 19, 2016 ST - Appellant opted for WC Composition scheme on 11/03/2010 but after ten days withdrew option and paid ST in terms of Notfn. 1/2006-ST - Differential ST demand issued on 02/04/2014 is clearly time barred: CESTAT

Allahabad, December 19, 2016 I-T - Whether if termination of a contract is a normal incident in business, the income received from cancellation of such contract & interest thereon is to be considered as revenue income � YES: HC

Mumbai, December 19, 2016 ST - If appellant is discharging ST under �Renting of Immovable property�, there is no reason for denial of CENVAT credit on various input services used in relation to building of such commercial property: CESTAT

Mumbai, December 19, 2016 CX - In absence of any provision requiring one to one co-relation, even though service is not used in appellants' factory but received and used in different factory of same company, credit cannot be denied: CESTAT

New Delhi, December 18, 2016 Demonitization - RBI has allowed higher withdrawal of cash if deposits in new notes are made: Minister

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