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India-bound oil tanker struck by Houthi’s missiles in Red Sea RBI issues draft rules on digital lending CRPF senior official served notice of dismissal on charges of sexual harassment Columbia faculty blames leadership for police action against protesters Google to inject USD 3 bn investment in data centre in Indiana UN says clearing Gaza mounds of rubble to take 14 yrs Blinken says China trying to interfere US Presidential polls World Energy Congress 2024: IREDA CMD highlights need for Innovative Financing Solutions Voter turnout surpasses 50% by 4 PM in Phase 2 polls 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 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 - 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


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New Delhi, January 20, 2015 Service Tax - Airport Authority of India loses huge case in CESTAT

Mumbai, January 20, 2015 Income tax - Whether when Revenue finds during investigation that assessee is beneficiary of accommodation entry it is sufficient to conclude absence of true and full disclosure of all facts by assessee - YES: HC

Mumbai, January 20, 2015 CX - Valuation - Glues & Adhesives - Appellant's stand that exemption u/r 34 of SWAM Rules, 1977 is not mandatory is not acceptable - as appellants are marking packages as 'Industrial Use', they are exempted from affixing MRP and, therefore, goods have be valued u/s 4: CESTAT

Mumbai, January 19, 2015 CENVAT - Although Steatite Ceramics are capital goods & appellants are entitled to take only 50% credit in first year, they have taken full credit - since they are entitled to balance credit in subsequent year, at the most, interest for intervening period is payable: CESTAT

Ahmedabad, January 19, 2015 Income tax - Whether benefit of deduction u/s 32AB can be extended to term loans taken against trucks and tankers - YES: HC

Allahabad, January 19, 2015 Export of non-basmati rice - Redemption fine imposable in lieu of confiscation is limited by ceiling of market price of confiscated goods - Tribunal could not have reduced value declared and legalized patent illegality: HC

New Delhi, January 18, 2015 Govt working on Single Uniform Law for MSME Sector; Focus is on job creation to reap 'demographic dividend': Jaitley

Mumbai, January 18, 2015 CE - Notfn. 162/86-CE - Cars cleared as taxis - dealers de-registering vehicles and converting into private vehicles - duty demand raised on assessee - there is no liability on appellant under notification to ensure continued use of vehicles as taxis -appeal allowed: CESTAT

Chennai, January 17, 2015 VAT - Whether reason given in departmental clarification that 'Women's Horlick' is not made up of 'milk' alone but with other ingredients, is sufficient basis to tax same under residuary entry - NO: HC

Mumbai, January 17, 2015 CX - Notification 6/2006 - Anchor rings, Load Spreading Plates not entitled for benefit of exemption as they do not fall under phrase 'wind operated electricity generator' - corrigendum issued by CESTAT

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