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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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Hyderabad, June 17, 2014 Income tax - Whether receipts on sale of carbon credits are business receipts - NO, rules High Court

Mumbai, June 17, 2014 ST - BAS - Merely because particular sub-clause of sec 65(19) has not been specifically mentioned in SCN it does not vitiate proceedings initiated thereunder: CESTAT

Mumbai, June 17, 2014 I-T - Whether when assessee, a lyricist by profession, has both professional and residential setup in same apartment, sums spent on installation of LIFT can be claimed as revenue expenditure - Only Partly: ITAT

Ahmedabad, June 17, 2014 CX - Demand of duty on account of clandestine clearance and under-valuation - Adjudicating authority was not correct in disallowing cross-examination of persons, except cases covered by Sec 9D - Matter remanded: CESTAT

Ahmedabad, June 16, 2014 CENVAT - Payment of ST on GTA service by utilizing CENVAT credit cannot be denied on ground that rule 3(4)(e) of CCR, 2004 allows such utilization only in respect of Output service and not for Input service - appeal allowed: CESTAT

Bangalore, June 16, 2014 Service Tax - Export of services - Refund - Relevant Date for limitation is date of receipt of payment not date of export: CESTAT

Mumbai, June 16, 2014 Income tax - Whether extending financial assistance or scholarship, to students for educational purpose would fall within connotation of 'education' - YES: ITAT

Ernakulam, June 16, 2014 ST - S. 37C - various modes prescribed for service of order - Department had attempted service by only one mode viz. by registered post - other modes have admittedly not been followed - WP allowed: Kerala HC

Ahmedabad, June 16, 2014 CX - Clandestine clearances - Demand cannot be confirmed based on evidence of diary - Settled law is that clandestine manufacture cannot be inferred unless allegations are also established on evidences: CESTAT

Mumbai, June 16, 2014 CENVAT - Refund - Export of service takes place at time of issuing invoice - date of receipt of payment is not relevant: 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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