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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 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 I-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITAT 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 Cus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTAT NY top court quashes conviction of Harvey Weinstein in rape case Weather prediction normal for phase 2 poll day IndiGo orders 30 Airbus A350s for long hauls ST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes REC avails SACE-Covered Green Loan for 60.5 Billion Japanese Yen Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide Cus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTAT DoNER discusses Development of Tourism in North East CX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT


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Mumbai, June 20, 2016 Cus - Order of Commr.(A) is cryptic inasmuch as although it sets aside adjudication order, on Revenue appeal, Commr(A) did not express his views or give any direction as to what is to be done - Order is patently wrong: CESTAT

New Delhi, June 19, 2016 India-Korea CEPA review begins; Both agree to up trade in services and also improved utilisation of bilateral concessions; Korea Plus launched to facilitate Korean investments

New Delhi, June 18, 2016 Rajaswa Gyan Sangam - Key takeaways - CBEC to scrap redundant excise Circulars and issue Master Circular; CBDT to go for re-organisation of jurisdictions on functional lines

Mumbai, June 17, 2016 CX - Mismatch between figures reported in 3CD returns filed with Income Tax authorities and RG-1 register � criteria for recording stocks is different � no allegation of clandestine removal can be made on above basis without any evidence: CESTAT

Mumbai, June 17, 2016 ST - Sec 26 of SEZ Act shall govern exemption in r/o supply of services to units for their 'authorized operations' & Notfn 4/2004 is not valid for implementation to extent that it imposes conditions not enacted in sec 26 or Rule 31: CESTAT

Chennai, June 17, 2016 CENVAT Credit of Service Tax on insurance premium for health insurance of factory employees is admissible even after amendment to Rule 2(l): CESTAT

Pune, June 17, 2016 I-T - Whether when there is no business activity during year, it is justified if assessee company pays rent for residence of Director particularly when it is paid to wife of Director who is specified person u/s.40A(2)(b) - NO: ITAT

Chandigarh, June 17, 2016 CX - CESTAT is right in holding that as per third proviso to s.35C (2A) of CEA, 1944, it has got power to grant extension of stay beyond 365 days from initial order of stay : High Court

Mumbai, June 16, 2016 CX - Refund - Accounting treatment such as not showing amount receivable in 2007-08 but showing same in 2008-09 is acceptable under I-T Act, therefore, Revenue could not have questioned same - claim not hit by unjust enrichment: CESTAT

Chennai, June 16, 2016 Customs - Exemption from CVD under Notification No 30/2004-CE is not admissible to fabrics of silk imported as exemption is conditional - Revenue's appeal against CESTAT order allowed: High Court

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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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Trade Mark Act - Marks are visually phonetically and deceptively similar to Plaintiffs' trademarks : HC

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