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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 25, 2016 Cus - Commissioner(A) clearly found that Benzopyrrole is freely importable on basis of DGFT letter, yet denied benefit - without contesting, content of letter could not have been rejected - appeal allowed: CESTAT

Kolkata, August 25, 2016 I-T - Whether when writ petitioners were not aware of CBDT notification, limitation on that account shall not remain suspended nor can period during which appellant was ignorant about change of jurisdiction can be excluded from period granted for filing appeal - YES: HC

Mumbai, August 25, 2016 CX - In absence of any restrictive clause in agreement, amount received by respondent towards pre-delivery inspection, erection/installation/commissioning charges are not includible in AV: CESTAT

New Delhi, August 24, 2016 Cus - Imports from Nepal - SAD Exemption notification 124/2000-Cus dt. 29.09.2000 amending Notfn. 37/96-Cus dt. 23.07.96 is not clarificatory and was intended to be applied prospectively - Appeals dismissed: Supreme Court

Mumbai, August 24, 2016 Cus - Detailed affidavit turns counterproductive & whole case of Department is revealed whereby all wrong doers are then alerted - authorities should issue SCN and commence adjudication promptly or take steps so that export consignments are not withheld for long duration: HC

Mumbai, August 24, 2016 ST - Appellant engaging services of foreigners - Since amounts paid by appellant to hotels and rent-a-cab services are actual expenses, these amounts cannot be considered as an amount which are to be taxed under reverse charge mechanism: CESTAT

Mumbai, August 24, 2016 Cus - There is no time limit specified for exercise of option to redeem confiscated goods - Exercise of that option cannot, therefore, be denied at any stage and an appeal, even if pending, is not affected by exercise of such option: CESTAT

Kolkata, August 24, 2016 I-T - Whether when assessee port has not claimed status of local authority to claim exemption u/s 10(20), even then Explanation inserted w.e.f AY 2003-04 would apply to determine its status for assessment and tax rate applicable - NO: ITAT

Mumbai, August 24, 2016 Cus - Rule 9 of Valuation Rules, 1998 does not confer blanket mandate to add value of elements of contract merely because supply of imported goods are covered in same contract : CESTAT

Ahmedabad, August 23, 2016 Penalty - Legislature while granting discretion to executive has also provided for sufficient guidelines and safeguards so that such discretion does not convert into arbitrary or discretionary exercise of powers -challenge to constitutional validity of s. 11(2), 11(3) of FTDR Act, 1992 fails: High Court

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