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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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Chennai, January 14, 2016 Cus - Mixed Waste Paper imported by availing concessional rate of duty under Notifn No 21/2002 - Benefit of exemption is not admissible to plastic waste and cloth waste contained in consignments - Demand of duty upheld: CESTAT

Mumbai, January 13, 2016 CX - Removal of moisture is process that would render product marketable to customers - activity falls within ambit of Ch. Note 10 of Ch. 29 as being manufacture - no cause for treating removal as clearance of inputs as such: CESTAT

Kolkata, January 13, 2016 Income tax - Whether even if assessee is able to explain excess cash found during Survey by furnishing cash-flow statements, addition made u/s 69A can be sustained - NO: ITAT

Chennai, January 13, 2016 Cus - Export duty on Ilmenite - Regulating size or removing unwanted materials amounts to beneficiation - Goods attract duty at 5% as upgraded Ilmenite - Not at 10% as unprocessed Ilmenite as contended by Revenue: CESTAT

Hyderabad, January 12, 2016 I-T - Whether date of agreement and not date of execution of sale deed is to be considered for purpose of adopting SRO value u/s 50C - YES: ITAT

Mumbai, January 12, 2016 Cus - Appellant had failed to appoint Regulation 8/9 qualified employee before expiry of broker licence - As licence had already expired, it did not remain an issue of being non-operative, it was matter of licence becoming non est: CESTAT

Allahabad, January 12, 2016 Condonation of delay - If order is served on member of family, it is duly served - No error in order of Tribunal dismissing appeal on ground of delay: HC

Patna, January 11, 2016 Cus - Public officers have to be held accountable for their acts of omission and commission - Amount of Rs 14,69,650 alongwith interest at rate of 9% per annum has to be recovered from erring officials: HC

Kolkata, January 11, 2016 I-T - Whether Rural Employment Cess & Primary Education cess collected from customers out of sale price can be construed as trading receipts chargeable to tax - NO: ITAT

Chennai, January 11, 2016 Cus - Valuation - Related party transactions - CESTAT upholds rejection of Transaction Value - Confirms value determined under Rule 8 - Appreciates Adjudicating Authority and Lower Appellate Authority for passing a meticulous order

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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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