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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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Hyderabad, December 14, 2016 Customs - De-bonding - Depreciation cannot be denied to goods imported under Notification No 153/93 Cus - CESTAT

Bangalore, December 14, 2016 Demonetisation - Objectives like countering FICN, black money and terrorism cannot be achieved without restrictions: HC

Kolkata, December 14, 2016 Service Tax - Bank guarantee submitted in connection with service tax dispute - bank is bound and obliged to remit amount covered under bank guarantee: HC

Mumbai, December 14, 2016 I-T - Whether failure of assessee to answer AO's queries & negligence of AO in not pursuing that line of enquiry, is apparent error warranting interference u/s 263 - YES: HC

Mumbai, December 14, 2016 Central Excise - Appeal to Commissioner (Appeals) - Limitation to be counted from date of corrigendum: HC

New Delhi, December 13, 2016 I-T - Whether CIT is authorized to make addition on the basis of fresh appraisal of existing materials, when search operations did not yield any new material warranting addition u/s 153A - NO: HC

New Delhi, December 13, 2016 CX - Quantification of credit to be reversed worked out on some % age basis with no cross examination of manufacturing process at job worker's end - demand unsustainable: CESTAT

Allahabad, December 13, 2016 ST - Whether construction of roads, parks etc. inside a residential complex are for use by general public or not and whether chargeable to service tax - matter remanded: CESTAT

New Delhi, December 12, 2016 ST - Salaries/expenses of Sr. Manager deputed to ensure standards are maintained to protect brand name are reimbursed on actual basis - same cannot form part of gross value: CESTAT

New Delhi, December 12, 2016 I-T - Whether addition is warranted u/s 68, if assessee has discharged its onus of submitting necessary evidences to establish bona fide of transactions - NO: HC

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