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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, July 10, 2016 CX - CENVAT- Since invoice received showed description as HR/CR coils whereas appellant had received HR/CR sheets, credit denied - Appellant directed to produce correlation between HR/CR coils received by dealer and HR/CR sheets supplied to appellant after cutting of coils - Matter remanded: CESTAT

New Delhi, July 09, 2016 Playing to the gallery & much more - impressive Kerala Budget

Mumbai, July 09, 2016 CX - Common input services for trading & manufacture - Tribunal must firstly refer to substantive Rule 6 operative prior to 1st April 2011 and then arrive at a conclusion in relation to Explanation introduced later: High Court

New Delhi, July 08, 2016 I-T - Subsidies provided by State Govt. in pursuance of an industrial policy is entitled to be treated as 'capital receipt', hence not chargeable to tax: SC

Mumbai, July 08, 2016 CX - Anchor rings and Load spreading plates are also parts of WOEG & entitled to benefit of exemption Notification No. 6/2006-CE: Larger Bench CESTAT

Kolkata, July 08, 2016 I-T - Whether where assessee chooses to withhold best evidence & relies on secondary evidence assuming that any secondary piece of evidence was adduced, then presumption in law shall be against assessee - YES: HC

Mumbai, July 08, 2016 CX - Merely because Excise duty is booked as expenditure in Profit & Loss account, it cannot be said incidence of duty has been passed on - Matter remanded: CESTAT

Mumbai, July 07, 2016 ST - In definition of IPR, law being referred to has to be an Indian Law and not recognition of intangible property right under law of a third country: CESTAT

Ahmedabad, July 07, 2016 I-T - Whether once prescribed authority has granted approval for scientific research, it is no longer open to AO to question satisfaction of conditions under Rule 18DA - YES: HC

Mumbai, July 07, 2016 CX - Undervaluation - there is nothing to show that main appellant was aware of fact that merchant manufacturers have not stated correct value of grey fabrics - for wrong declaration of value by supplier, extended period is not available: CESTAT

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