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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, June 30, 2014 Cus - Indian currency, in excess of that permitted by RBI, attempted to be exported is liable for absolute confiscation and it is discretion of proper officer to allow redemption on payment of RF and Penalty: CESTAT LB

Bangalore, June 30, 2014 Cus - Bituminous Coal or Steam Coal - Tribunal confirms demand by classifying Coal imported as 'Bituminous Coal'- Grants relief on extended period & penalties

Hyderabad, June 30, 2014 Income tax - Whether when original assessment was completed after scrutiny, AO has powers to resort to re-assessment on basis of Lokayukta's and Newspaper Reports on alleged suppression of sales - YES: ITAT

Mumbai, June 30, 2014 CX - Commissioner (A) allowing appeals on merits & on ground of time bar - Revenue challenges o-in-a only on merits - since there is no challenge with respect to dropping of duty demands on account of time bar, Revenue's appeals are dismissed: CESTAT

Nairobi, June 29, 2014 'A Life of Dignity for All': UN Chief adopts Lion Cub; terms wildlife crime as major security issue

Mumbai, June 28, 2014 ST - Security Services provided by Police for IPL matches hosted by Cricket Association- during material period, ST liability arose on actual receipt of remuneration - since Association has not paid dues, appellant has made out a case for waiver of pre-deposit: CESTAT

New Delhi, June 28, 2014 Japan, Singapore keen to work closely with India in many sectors: MPs Delegation

Chennai, June 27, 2014 ST - appeal - CoD of 213 days - A person suffering from cardiac disease cannot function as normal person - Tribunal order disbelieving applicant's plea by stating that there is no advise for bed rest cannot be sustained: HC

Ahmedabad, June 27, 2014 Income tax - Whether when assessee fails to declare salary income on which TDS was deducted, same is to be treated as 'undisclosed income' - YES: HC

Kolkata, June 27, 2014 Cus - Review Committee has initially accepted DC order & subsequent decision to review order was only at instance of Audit - There is no provision u/s 129A & 129D to reopen or review Review Committee's order - Committee has become functus officio : 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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