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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, August 14, 2014 ST - accreditation and representing ICANN are two different things and appellants are only accredited by ICANN and they are not representing ICANN - appellants cannot be said to be providing franchise service: CESTAT

Ahmedabad, August 14, 2014 Income tax - Whether when subjective satisfaction was arrived at by AO for initiation of proceedings u/s 158BD on basis of materials found during Search, it can be said that initiation of proceedings was vitiated - NO: HC

Mumbai, August 14, 2014 ST - Appellant cannot provide the output service of 'Training & Coaching' without having faculty available for same - Expenses incurred by appellant by way of brokerage for finding accommodation for its faculty is, therefore, an Input service : CESTAT

Mumbai, August 14, 2014 CENVAT - Clearances of Cement to 'contractors' of SEZ developers under cover of ARE-1 without payment of duty are to be treated as an export - amendment to rule 6(6)(i) made on 31.12.2008 is clarificatory - no demand survives u/s 6(3)(i) of CCR, 2004: CESTAT

New Delhi, August 13, 2014 NDPS - Whether a person accused of an offence under NDPS can be enlarged on bail - No Bail unless conditions of Section 37 are satisfied: Supreme Court

Allahabad, August 13, 2014 CX department does not have any preferential charge over recovery: High Court

Mumbai, August 13, 2014 ST - Canvassing/promoting business of insurance company prima facie comes within purview of BAS and liability to pay ST is on service provider and not on recipient - even if ST liability was discharged by recipient same cannot compensate or obliterate appellant's liability : CESTAT

Kolkata, August 13, 2014 Income tax - Whether when a private limited company is converted into partnership firm and interest-free loans are advanced out of reserves of erstwhile company in the same ratio as profit-sharing, it flouts proviso (f) to Sec 47(xiiib) and the assessee is not entitled to the benefit of Sec 47 - YES: ITAT

Mumbai, August 13, 2014 Cus - No prudent businessman, where goods are available at lower price shall buy goods & be ready to pay duty on higher value - sale, time of delivery & place of importation are necessary ingredients to determine AV and have to be read in conjunction - correct AV is invoice price plus demurrage: CESTAT

Mumbai, August 12, 2014 ST - As per customer's request Appellant conducting analysis of semi-finished goods as well as final products so that goods meet specifications laid down under Drugs Act - charges recovered by raising Debit notes - it cannot be said that appellants providing Testing service: 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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