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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, November 28, 2015 ST - Works Contract - No proof is forthcoming from records that earlier contract was cancelled and fresh contract signed on 06.06.2007 merely to avail benefit of composition scheme which came into effect on 01.06.2007: CESTAT

Mumbai, November 27, 2015 CENVAT - ISD as also its manufacturing unit is single legal entity - it is like brain of human being controlling different parts of body - submission that SCN should be issued to head as hand has acted as per direction of head is rejected as cause of action stands with availment and utilization of credit at manufacturing unit: CESTAT

Amritsar, November 27, 2015 I-T - Whether in survey proceedings, additional income surrendered by assessee over & above normal profits of concern as business income, has to be assessed under 'business income' & not as 'deemed income' u/s 69A - YES: ITAT

Mumbai, November 27, 2015 ST - Municipal Corpn. allowed APMSS to use logo 'AMT' on city buses that were operated by APMSS and received royalty - no representational right granted by Corpn. to APMSS to provide any service identified with franchisor - no case for demanding ST under Franchise service: CESTAT

Mumbai, November 27, 2015 CX - CENVAT credit taken by respondent cannot be disputed as fulcrum of revenue to deny credit on ground that Associated Capsules Ltd could not have discharged duty is set aside - Revenue appeal dismissed: CESTAT

New Delhi, November 26, 2015 Income Tax - Whether advance given to subsidiary is business expediency if undertaking was given by assessee that it would provide additional margin to subsidiary to meet working capital requirement - YES: SC

Ahmedabad, November 26, 2015 Cus - When no duty is payable on Electrical energy imported into India, no duty would be payable on similar goods transferred from SEZ to DTA in view of s 30 r/w s 51 of SEZ Act - HC order affirmed by Apex Court

New Delhi, November 26, 2015 CX - EOU - goods manufactured wholly out of indigenous raw materials - Valuation - Central Excise Valuation and not Customs FOB applicable: SC

New Delhi, November 26, 2015 CX - Sec 3A - 'Omission' being tantamount to 'deletion' is form of repeal - Interest and Penalty provisions of Rules 96 ZO, ZP,ZQ quashed: SC

New Delhi, November 26, 2015 Central Excise - Branded Chewing Tobacco - Not relevant whether the brand is own or not: Supreme Court

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