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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 22, 2015 Income tax - Whether in absence of any plausible explanation, delay can be condoned mechanically merely because Govt or wing of Government is party before Court - NO: High Court

Mumbai, July 22, 2015 ST - Notfn. 12/2013 - Once SEZ unit secures approval of 'Approval Committee' and furnishes declaration in Form A-1 verified by Specified Officer of SEZ, jurisdictional DC/AC is enjoined with duty to issue authorization in Form A-2 - WP allowed: High Court

New Delhi, July 21, 2015 ST / CX - Review Order - Decision rendered by Committee is an administrative function and would, therefore, not require members of Committee to consult and give independent reasons - Tribunal has no jurisdiction whatsoever to strike down a decision taken by Committee: HC Larger Bench

New Delhi, July 21, 2015 Can Tribunal condone delay in order passed by Committee of Chief Commissioners

Mumbai, July 21, 2015 ST - Rule 7C of STR, 1994 - During period 04/2008 to 03/2011, for delayed submision of return, maximum penalty that could be imposed u/s 70 was Rs.2,000/- - Since one return has been filed in time, penalty is liable only on five returns of Rs.10,000/- - imposition of penalty of Rs.1,01,500/- not sustainable: CESTAT

Madhya Pradesh, July 21, 2015 Income tax - Whether power bestowed on AO having jurisdiction under Ss 153C or 158BD is identical and when no incriminating material is seized during search, AO's action is invalid - YES: HC

Bangalore, July 21, 2015 Jurisdiction of High Court - Situs - Article 226 can be invoked even if fraction of cause of action arises with territorial jurisdiction of High court - Order of Single Judge set aside: High Court

Geneva, July 20, 2015 WTO Members about to wrap up pact on removal of duty on 200 more IT products worth USD 1 trillion annual trade

New Delhi, July 20, 2015 ST - Applicant is eligible to avail CENVAT Credit of ED that would be paid on pipes and valves procured from manufacturer against applicant's output ST liability for services in nature of 'Transport of gas through pipeline' provided invoice is issued by registered dealer: Advance Ruling

Mumbai, July 20, 2015 CX - Storage of goods outside factory - Revenue has no locus standi to insist upon assessee for expansion of factory space - If this is accepted then it is for every industry & Rule 4(4) will become redundant: 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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