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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, October 05, 2018 I-T - Nature of payment in form of incentive given to sub-dealers, cannot be equated with commission paid to wholesale dealers by telcos as per Sec 194H: ITAT

Chennai, October 05, 2018 CX - Authorities have neither pleaded malafide nor suppression in SCN and acted belatedly against assessee - demand rightly set aside on ground of limitation : HC

Ahmedabad, October 04, 2018 I-T - Genuine claim of exemption from capital gains tax u/s 54F cannot be denied to assessee-HUF merely because sale deed was executed in name of member: HC

Ahmedabad, October 04, 2018 I-T - Reopening of assessment where no scrutiny was undertaken, cannot be said to be hit by principle of change of opinion: HC

Mumbai, October 04, 2018 ST - It is not as though confirmation of demand would ipso facto lead to penalty - S.80 of FA, 1994 provides for non-imposition of penalty if there is a reasonable cause: HC

Ahmedabad, October 04, 2018 I-T - Members of HUF are prohibited from individually pursuing remedies against same cause of action, once KARTA has initiated litigation and there is no allegation of misfeasance against Karta: HC

Chennai, October 04, 2018 Cus - Clerical error/accidental slip or omission, can be corrected at any time and on making such correction, consequential return of customs duty available: HC

New Delhi, October 03, 2018 GST - Clean Energy Cess - Compensation to States Act, 2017 not beyond legislative competence of Parliament: SC

Ahmedabad, October 03, 2018 GST - Time-limit in rule 117(1) of CGST not ultra vires - annihilating time limit would lead to utter economic chaos: HC

Mumbai, October 03, 2018 I-T - If a project fails to take off due to some reasons, investments made cannot be written off as bad debts: ITAT

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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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