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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, November 05, 2015 NDPS - Evidence of Police officer as sole witness acceptable - Conviction upheld: Supreme Court

New Delhi, November 05, 2015 Whether stock brokers who have converted partnership membership into a corporate entity prior to April 01, 1997 are entitled to fee continuity benefit on retrospective basis under SEBI Regulations, 1992 � YES: SC

Mumbai, November 05, 2015 I-T - Whether for computing book profit u/s 115JB(2), expenditure incurred in relation to exempt income is to be disallowed by invoking Sec 14A read with Rule 8D - NO: ITAT

Ahmedabad, November 05, 2015 Rule 10 of Pan Masala Packing Machine Rules, 2008 - Suo Motu abatement claimed for period of closure of factory - In absence of any procedure prescribed in Rules, no fault can be found with assessee - No error in order of Tribunal: HC

Mumbai, November 05, 2015 ST - IPR not covered by Indian laws would not be covered under taxable service - technical know-how received by appellant and royalty payment made to Unisys is nowhere established to result from use of any IPR: CESTAT

New Delhi, November 04, 2015 Central Excise - EOU - Concessional rate to goods cleared to DTA , when manufactured from indigenous raw material - Imported wax used in manufacture of cotton yarn - not eligible for exemption: Supreme Court

New Delhi, November 04, 2015 Customs - Conversion of free shipping bills into drawback shipping bills - Conversion permissible only when claim for duty drawback was beyond control of exporter - Drawback on AIR can be considered without converting Shipping Bill: Supreme Court

New Delhi, November 04, 2015 Central Excise - SSI Exemption - Exemption for own goods and duty payment with CENVAT Credit for branded goods - Permissible : Supreme Court

Ahmedabad, November 04, 2015 CX - Sec11 - Buyer of assets is not successor in business - Recovery of dues of predecessor cannot be made from purchaser of assets of defaulting unit: HC

New Delhi, November 04, 2015 I-T - Whether it is necessary for AO, at stage of recording satisfaction u/s 153C, to conclude that seized assets which belong to another person represent any undisclosed income - NO: HC

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