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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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New Delhi, May 19, 2016 I-T - Whether when assessee's closed unit was rehabilitated under sanctioned Scheme but assessee sold property without taking prior approval of Board, it would amount to alteration of scheme and assessee loses rights to seek extension of Scheme - YES: SC

Mumbai, May 19, 2016 ST - Placement fees collected from students covers expenses for organizing campus interview - recipient client must be prospective employer & consideration must flow from such employer - Not taxable under Manpower Supply services: CESTAT

Allahabad, May 19, 2016 I-T - Whether interest paid by bank on FDRs purchased by 'NOIDA', is exempted from deduction of tax at source u/s 194-A(1), being Corporation established under Industrial Act - YES: HC

Jodhpur, May 19, 2016 CX - It is obligatory upon Tribunal to satisfy itself about delivery or tendering of notice before presuming that notice was served as per s.37C(2) - Matter remanded: HC

New Delhi, May 18, 2016 I-T - Whether in a situation of concurrent jurisdiction when Inspecting AC does not exercise powers and functions of ITO, the latter is free to assume jurisdiction and pass order - YES: SC

Ahmedabad, May 18, 2016 SCN to dummy unit - Mere marking a copy of SCN issued to main unit as directed by CESTAT is not enough - Department was inclined to initiate proceedings against appellant, it had to take own decision & issue notice: HC

Chennai, May 18, 2016 Maintenance or repair of Helicopter used for transportation of Directors and Chairman of company is eligible for CENVAT Credit: CESTAT

New Delhi, May 18, 2016 I-T - Whether adjustment of refund payable against tax arrears can be made without any prior intimation to assessee - NO: HC

Mumbai, May 18, 2016 CX - In era of self assessment, onus of taking credit correctly has been put on appellant - extended period rightly invoked - Appeal dismissed: CESTAT

Mumbai, May 18, 2016 ST - For determining whether appeal was filed in time, merely by taking date of dispatch as date of communication of order does not appear to be proper - As vital aspect not properly considered, Appeal restored: CESTAT

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