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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 06, 2016 CX - It is necessary to establish beyond doubt that buyer is knowingly involved in fraud committed by supplier - Buyers forgoing their claim of rebate - Penalty not imposable u/r 26, 27 of CER, 2002 - Appeals allowed: CESTAT

Chennai, July 06, 2016 I-T - Whether when a petition is filed before SC seeking leave to appeal and same having been converted into an appeal by SC, HC should not entertain review petition in relation to that & HC cannot also reverse or modify order impugned before Apex Court - YES: HC

Kolkata, July 06, 2016 CX - When a citizen is charged with having done something wrong & some material is provided by such citizen to disabuse authority of its impression, such evidence has first to be discredited upon a cogent discussion thereon before original suspicion of wrongdoing is exalted to a final finding: HC

New Delhi, July 05, 2016 I-T - Whether, for shipping company qualifying u/s 115VD, purchase of slot charter is to be construed as deemed tonnage which does not require furnishing of a 'valid certificate' as per Sec 115VX - YES: Supreme Court Larger bench

Mumbai, July 05, 2016 CX - Refund - If it is established that appellant was issued debit note by principal towards excise duty initially paid by appellant and same has been accounted for in books of both parties, it is clear that incidence of duty paid does not stand passed on to principal: CESTAT

Mumbai, July 05, 2016 I-T - Whether collections made by a co-operative housing society as interest-free loan, from incoming members as a binding precondition for becoming a member, are revenue receipts - NO: HC

Mumbai, July 05, 2016 Cus - Origin of confiscation resides in domain of Customs procedures and hence reliance on testing by CRCL is not questionable - Appeals rejected: CESTAT

Kolkata, July 04, 2016 ST - Dada wins - By writing an article or anchoring TV show, person does not render service with object of enhancing any business or commercial interest - new category of brand endorsement indicates it was not covered earlier under BAS: Petition allowed: High Court

Mumbai, July 04, 2016 CX - Concept of sale in CE law involves 'transfer of possession of goods' even without 'transfer of property' in goods - relying on provisions of Sale of Goods Act to interpret provisions of s. 4 is not correct - buyer's premises cannot, in law, be 'a place of removal': CESTAT

Bangalore, July 04, 2016 Cus - Mandatory pre-deposit under Sec 129E - Whether amount deposited during investigation or audit at other locations qualify for adjustment as pre-deposit - HC directs Commissioner to pass a speaking order - Deprecates 'kingly manner' letter rejecting such adjustment

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