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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 20, 2014 CX - Valuation - Paper in reels cleared on payment of duty to job worker who converted same into sheets and same were sold from job worker's premises to buyers - prima facie duty liability to be discharged - Pre-deposit ordered: CESTAT

Hyderabad, June 20, 2014 I-T - Whether when assessee which works for cause of trade & industry was granted registration u/s 12A, it loses eligibility for Sec 80G benefits merely because a copy of registration is not available - NO: ITAT

Kolkata, June 20, 2014 ST - Commissioner(A) not addressing issues raised in appeal memorandum - In its absence, it would be inappropriate and difficult to record a finding on the same at second appellate stage - matter remanded: CESTAT

Ahmedabad, June 19, 2014 CENVAT - Differential duty paid on 09.02.2000 - it was only after Tribunal order dt. 17.05.2005 that IOCL was absolved of charges of suppression - MODVAT Rules contained no time limit for issuance of 57E Certificates & CCRs do not restrict taking of credit: CESTAT

Hyderabad, June 19, 2014 I-T - Whether when Search leads to papers relating to sale & purchase of land outside books and same is admitted by MD in his statement, any addition with respect to unexplained investments is legally sustainable - YES: ITAT

Ernakulam, June 19, 2014 Cus - Cocoa Beans were found contaminated with fungal growth � since Cocoa Beans is a 'food product' unless it is cleared by Food Safety & Standards Authority same cannot be released - Petition dismissed: High Court

Mumbai, June 19, 2014 CENVAT - Dredging is undertaken in navigation channel which belongs to Board - channel is also used by several others - it cannot be said that benefit of dredging accrues only to appellant & is in relation to manufacturing: CESTAT

Mumbai, June 18, 2014 CCE unnecessarily chose to raise level of litigation by denying credit as if it is Tribunal's job to get verification done - he could have verified these details himself - Matter remanded: CESTAT

Mumbai, June 18, 2014 Income tax - Whether production of steam can be construed as generation of power and Sec 80IA benefits cannot be denied even if such steam is utilised for internal manufacturing process - YES: ITAT

Mumbai, June 18, 2014 ST - BSS - appellant managing distillery & country liquor by undertaking manufacturing as well as sale - no evidence to show that appellant had received any amount for any service in relation to manufacture & distribution: CESTAT

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