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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 24, 2018 I-T - If rent is due for receipt only after fulfillment of certain conditions precedent, which are not yet fulfilled, then no addition for Income from house property is to be made : ITAT

Jaipur, December 22, 2018 I-T - Undisclosed business receipts, which are not recorded in books but found during search, is undisclosed income & attracts penalty: ITAT

Mumbai, December 21, 2018 ST - Refund - S.103 of FA, 1994 is not unconstitutional - Time consumed by Ministry in processing and granting certificate must be ignored for computing limitation: High Court

Ahmedabad, December 21, 2018 I-T - Revenue cannot make disallowance arbitrarily of any amount for administrative expenses u/s 14A without making a reference to amount claimed in books: ITAT

Mumbai, December 21, 2018 CX - Reasoning given by Tribunal is cryptic and falls short of expected legal standards - no alternative but to quash order: HC

Ernakulam, December 20, 2018 Sales Tax - Situs of trademark is place from where its owner sells certain goods under such mark and sale of trademark to transferee in other state is Inter-State sale: HC

Kolkata, December 20, 2018 I-T - Exemption u/s 54F can still be allowed if sale consideration is invested to purchase new residential flat before date specified u/s 139(4) : ITAT

Mumbai, December 20, 2018 ST - Interest - Refund claim cannot be treated as validly filed till it is filed along with all supporting documents: CESTAT

New Delhi, December 19, 2018 Setback for former CBEC Member; Delhi HC dismisses Writ against CVC imposing major penalty in corruption case

Mumbai, December 19, 2018 ST - One-time maintenance charges collected from flat owner by builder is not chargeable to tax under category of Maintenance and Management of immovable property: CESTAT

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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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