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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, July 27, 2015 I-T - Whether if during search in assessee's premises, a locker key of another assessee is seized, market value of jewellery stored in such locker is to be added in income of searched assessee as deemed income - YES: HC

Bangalore, July 27, 2015 CENVAT Credit on outward transport after 01.04.2008 - Credit is admissible in case of FOR destination sale - Amendment to CCRs, 2004 with effect from 01.04.2008 does not alter admissibility - HC sets aside order of Tribunal

Geneva, July 26, 2015 WTO expresses concern over growing list of trade-restrictive measures

New Delhi, July 26, 2015 Cruise Shipping Policy gives major boost to Cruise Tourism

New Delhi, July 25, 2015 SEBI detection of money laundering through scrips a follow-up action of SIT recommendations

New Delhi, July 25, 2015 Mauritius, Singapore continue to be routes for more than 50% of FDI inflows in India

Geneva, July 24, 2015 WTO Members cork historic USD 1.3 trillion information technology trade deal

Mumbai, July 24, 2015 Cus - HC expresses anguish - Quashes SCN lying un-adjudicated for 17 years - Petitioner can apply for refund of Rs 2 Cr, deposited under protest in 1996, with interest - Secretary in MoF to initiate proceedings so that all guilty of causing loss to public exchequer are brought to book: HC

Chennai, July 24, 2015 Cus - Non-implementation of orders of HC - Exemplary cost of Rs 1,00,000 imposed on department - HC grants liberty to recover it from officers responsible

Mumbai, July 24, 2015 ST - Interpretation of Revenue that there is no manufacture involved as defined u/s 2(f) and, therefore, ST is payable under BAS is totally incorrect inasmuch as medicines containing alcohol are 'manufactured' by appellants as per provisions of Drugs and Cosmetics Act: CESTAT

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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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