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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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New Delhi, July 27, 2016 I-T - Whether when dumb document is seized from third party, duty is cast on Revenue to prove that transactions have really taken place and sum involved constitutes undisclosed income - YES: ITAT

Chennai, July 27, 2016 Fuel injection pumps exported and re-imported after fitting on to diesel engines - benefit of exemption under Notification No 94/96 Cus is not admissible : CESTAT

Mumbai, July 26, 2016 ST - Even if none of dependents of employees were within coverage, premium amount would not alter or vary, therefore, credit of CENVAT cannot be denied: CESTAT

Mumbai, July 26, 2016 I-T - Whether pre-schooling is integral part of term 'education' as envisaged under Sec 2(15) - YES: ITAT

Mumbai, July 26, 2016 Cus - Statutory interest which is payable, in event refund claims are not granted, serves as deterrent for holding up sums which are legitimately due and payable: HC

New Delhi, July 25, 2016 Cus - FM's speech only highlights more important proposals of budget and those are not enactments by Parliament - law as enacted is what is contained in Finance Act: SC

New Delhi, July 25, 2016 Cus - On basis of 'draft' order signed by adjudicating authority, certified copies of final orders cannot be issued - It's high time department ceases such practice: HC

New Delhi, July 25, 2016 'Mediker' is drug and not a shampoo; 'Revive' instant starch used while washing clothes is not chemical - Not liable to Entry tax - Revenue appeal dismissed: SC

Mumbai, July 25, 2016 I-T - Whether when assessee has deposited certain amount at time of allotment of a property and transfers such amount in favour of another party, it would amount to transfer of his rights over such property - YES: ITAT

Mumbai, July 25, 2016 Cus - CHA licence - In its limited jurisdiction, High Court cannot re-appreciate and re-appraise a pure finding of fact - CESTAT order upheld: HC

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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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