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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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Kolkata, March 15, 2016 I-T - Whether payment of NPV by mine owners as compensation for earlier years when assessee had mined ores, is to be treated as revenue expenditure - YES: ITAT

Mumbai, March 15, 2016 ST - There is no difference between provisional entry & final entry - Service tax became due in accordance with date of provisional entries made first time by respondent in their books - Therefore, there is a delay in payment of ST which attracts interest: CESTAT

Mumbai, March 14, 2016 ST - Neither there was any intention to save tougher provisions of S. 78 of FA, 1994 after 8/4/2011 nor is S.38A of CEA, 1944 legally capable of saving provisions of erstwhile S. 78, as same is not a piece of delegated legislation - Amended s.78 applies at time of adjudication of cases booked prior to 08/04/2011: CESTAT

Chennai, March 14, 2016 Undated order issued by Commissioner (Appeals) - CESTAT deprecates manner of disposal of appeal - Informs CBEC to issue guidelines on how to discharge public duty

Mumbai, March 14, 2016 ST - Appellant is merely acting as a trustee to incur expenses on behalf of Participating Group Cos - No taxable service is provided and, therefore, in absence of rendition of such service demand of ST cannot sustain: CESTAT

Bangalore, March 14, 2016 I-T - Whether privilege fee paid by assessee to State Govt is allowable as business expenditure prior to April 1, 2014 - YES: HC

Mumbai, March 14, 2016 CX - Condensing units, chillers, Walk in cold rooms supplied to Research institution are entitled for exemption in terms of notification 10/97 as assessee has produced required certificate that institution is not engaged in commercial activity and goods are required for research: CESTAT

New Delhi, March 13, 2016 PM says India is a haven of macro-economic stability; MoF-IMF sign MoU for setting up Training Centre in Delhi

Chennai, March 12, 2016 CX - Goods Returned to factory - If no process is undertaken, duty is payable on Transaction Value under Rule 16(2) of Central Excise Rules, 2002: CESTAT

Mumbai, March 11, 2016 ST - ARs need to be educated - Tribunal wants to bring to notice of Revenue Secretary & Chairman, CBEC, a glaring example of inertia with which policy prescriptions are dealt with by field formations

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April 26, 2024

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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I-T- Proceedings commenced subsequent to exercise of revisionary power u/s 263, are unsustainable, where the revisionary order itself came to be quashed: ITAT

April 26, 2024

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April 26, 2024

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

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