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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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Chennai, June 03, 2016 CX - goods received from job worker on payment of duty are tested, packed and exported - credit cannot be denied to exporter on ground that there is no manufacture : HC

Bangalore, June 03, 2016 I-T - Whether as soon as exports are made, exports incentives are to be accounted for and offered to tax on mercantile basis - YES: ITAT

Mumbai, June 03, 2016 ST - In absence of saving clause, new S. 78 shall apply and accordingly penalty of 50% is imposable: CESTAT

Chennai, June 02, 2016 CENVAT Credit of Service Tax paid on transportation of goods to sister unit - Credit is admissible at sender's end: CESTAT

New Delhi, June 02, 2016 Drawback - Once appeal is allowed, department was not justified in keeping Petitioner's bank account frozen - Order for de-freezing issued: HC

Ahmedabad, June 02, 2016 I-T - Whether cost of ESOP can be debited in P&L Account and also claimed as deduction on account of remuneration - YES: ITAT

Mumbai, June 02, 2016 CX - Assessee engaged in redrawing wire from alloy steel wire rods & then subjecting it to copper coating & winding - Even if the activity does not amount to manufacture, Cenvat Credit is admissible in terms of Rule 16: CESTAT

Mumbai, June 02, 2016 ST - EA-2000 audit is an extensive audit of records of assessee - Upon its completion if no objection is raised, demand issued by invoking extended period is unsustainable: CESTAT

Chandigarh, June 01, 2016 I-T - Whether if Revenue's counsel has failed to add back sum debited to P&L A/c which were inadmissible, such an error cannot be attributed to assessee - YES: HC

Mumbai, June 01, 2016 ST - As per rule 2(l) of CCR, 2004, Works Contract Services are excluded only when used for construction services - Works contract services used for maintenance of office equipment and building are to be treated as Input Services: CESTAT

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