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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, December 30, 2014 Income tax - Whether 'amalgamation' as term can include transfer of one or more undertakings to another company without actually blending existing companies into amalgamated company - YES: HC

Mumbai, December 30, 2014 ST - Since non-payment of ST was detected from books of accounts it indicates that appellant could not have acted mala fide - Adjudicating authority having found reasonable cause for waiving penalty u/s 76, there is no justification for imposing penalty u/s 77, 78 of Act: CESTAT

Mumbai, December 30, 2014 Cus - Law is very clear and there is no ambiguity - In terms of amended s. 129E, Tribunal is barred from entertaining any appeal unless pre-deposit as mentioned in s. 129E is complied with - as appellants have not complied with pre-deposit requirements, MA and appeal dismissed: CESTAT

Bangalore, December 29, 2014 CHA Licence - Export of Red Sanders - Prosecution of employee would not result in closing down of appellant's business but non-renewal of licence does - prima facie no evidence against appellants - order of non-renewal set aside but not proceedings for non-renewal: CESTAT

Chennai, December 29, 2014 Anti Dumping duty on Aluminium Alloy wheels - Time limit for investigation by DGAD under Rule 17(1) - Whether Government can extend period of investigation retroactively after expiry of last date - Yes: High Court

Mumbai, December 29, 2014 CENVAT - Sofa, Almirah, chairs, ladder, drop box, doors, fire resistant file cabinets, safe deposit lockers, whether capital goods/inputs under CCR, 2004 - Matter debatable - Pre-deposit ordered: CESTAT

Chennai, December 29, 2014 Income tax - Whether when Revenue fails to take action on demand of tax with interest for 27 years and also fails to apply mind to interest waiver application, it is a fit case to reduce interest amount u/s 220(2A) - YES: HC

New Delhi, December 29, 2014 NDPS - Seizure of heroin & cash - Independent witnesses do not turn up - Conviction cannot depend only on fact that huge quantity was seized - Also, argument that prosecution will not needlessly implicate innocent persons does not impress Court - Voluntary Statement doubted - Petition dismissed: HC

Mumbai, December 28, 2014 Cus - Requirement under amended Regulations that Authorized Courier shall file declarations for clearance through person who is duly authorized u/s 146 is policy matter and it would be impermissible for Court to interfere: High Court

Mumbai, December 28, 2014 CENVAT - Appellant clearing jobworked goods without payment of duty to principal manufacturer - Input services availed cannot be denied: 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

April 26, 2024

I-T- Proceedings commenced subsequent to exercise of revisionary power u/s 263, are unsustainable, where the revisionary order itself came to be quashed: ITAT

April 26, 2024

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