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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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Mumbai, December 02, 2015 CX - Respondent was manufacturing goods on job work basis which were not exempt but dutiable and duty was paid by customer and, therefore, it cannot be said that capital goods were exclusively used in manufacture of exempted goods - Credit correctly taken: CESTAT

New Delhi, December 02, 2015 SEBI: Whether transaction of buyback of shares of target company & price at which it was acquired warrants compulsory disclosure in public announcement of further acquisition of shares in such company, when buyback had taken place within 26 weeks prior to date of announcement - YES: SC

New Delhi, December 01, 2015 Capital Market - Whether failure in furnishing documents, returns or reports to SEBI is a 'continuing default' under Pre-amended Sec 15A of the SEBI Act - NO: SC

Mumbai, December 01, 2015 I-T - Whether difference between sum claimed for repairs due to fire from insurance company and sum actually granted is allowable under Ss 31 or 32 - YES: HC

Mumbai, December 01, 2015 ST - Conducting charges - Arrangement is of such nature that KSM's distillery unit is taken over for conducting and managing - Assessee is, therefore, responsible for any profits being generated or losses sustained - Nature of transaction, therefore, would not fall within BSS: HC

New Delhi, November 30, 2015 Customs - Order of Provisional Release under Section 110A - Appeal lies to Tribunal - CESTAT Five Member LB

Kolkata, November 30, 2015 Cus - Any other law imposing restriction on movement of any category of goods within India cannot be made ground for confiscation of such goods under Customs Act - confiscation of Agarwood & penalties set aside: CESTAT

Kolkata, November 30, 2015 CX - CENVAT Credit on inputs rejected by assembly line during manufacturing process cannot be denied: CESTAT

Cuttack, November 30, 2015 Sales Tax - Whether there exists difference of opinion between two HC orders, when both cases deal with different subjects and also provisions of Act - NO: HC Larger Bench

New Delhi, November 29, 2015 India re-elected as Member of Maritime Council; Seaborne trade to shoot up to 2200 mn tons by 2020

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