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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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Hyderabad, June 28, 2016 Information provided by public office under RTI is valid proof and no reason to disbelieve same - Since main contractor paid Service tax as per RTI information, demand on sub-contractor set aside: CESTAT

Mumbai, June 28, 2016 ST - Renting of Immovable Property - Property tax proportionate to period for which abatement is claimed shall be excluded while computing gross amount charged for purpose of levy of service tax as per notfn. 24/2007 � No excess abatement availed : CESTAT

Kolkata, June 28, 2016 I-T - Whether when assessee, an amalgamating company, itself chose not to inform Revenue about amalgamation sanctioned by High Court and preferred to file return in its own capacity, assessment order passed by AO can still be held as nullity - NO: HC

Mumbai, June 28, 2016 CX - CENVAT - For purpose of taking credit in respect of goods supplied by 100% EOU, BCD which is leviable in case of import of goods shall apply and not actual rate which is applied & paid - Appeal allowed: CESTAT

Mumbai, June 27, 2016 CX - Confirmation of amount of 8% of value of exempted goods is not akin to any duty which is short levied or short paid - in absence of recovery mechanism during impugned period, imposition of penalty is incorrect: CESTAT

Hyderabad, June 27, 2016 Services provided in Jammu & Kashmir are not exempted Services - Provisions of Rule 6 of CENVAT Credit Rules are not applicable: CESTAT

Ahmedabad, June 27, 2016 I-T - Whether initiation of reopening on basis of accommodation entries found during course of search is legally valid - YES: HC

Ahmedabad, June 27, 2016 Customs - Refund - Unjust enrichment is applicable even for refund of amount recovered by way of encashment of Bank Guarantee: HC

New Delhi, June 26, 2016 PM urges taxpayers to avail black money amnesty scheme or face action post-Sept 30 deadline

New Delhi, June 26, 2016 FSSAI joins hands with CHIFSS to enhance Food Safety standards

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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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