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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, June 15, 2014 Modi Govt to review Companies Act, SEZ Act and all FTAs

New Delhi, June 15, 2014 CBI tells Minister people have 'misplaced' perception about their autonomy

New Delhi, June 14, 2014 Expert Panel asks Govt to levy 75 paise CESS on BS III grade gasoline and diesel

Washington, June 14, 2014 US economic recovery is good but needs tax reforms to sustain it, says OECD Survey

Mumbai, June 13, 2014 Cus - Electronic paver finisher - Machine itself should be able to lay pavement of 7 m size width for being held eligible for exemption - addition of bolt-on extensions by importing separately cannot qualify: CESTAT Larger Bench

Mumbai, June 13, 2014 CX - Export of Biscuits - any exemption given on basis of MRP applies to goods sold in India & has no application whatsoever for identical goods exported - CENVAT admissible on inputs/input services: CESTAT

Mumbai, June 13, 2014 Cus - Seeds are not parts of plant - even Customs Tariff recognizes seeds & plants differently - Seeds imported for sowing cannot be considered as being imported in contravention of Courier rules: CESTAT

New Delhi, June 13, 2014 Income tax - Whether value of property declared by assessee-seller before Settlement Commission would bind the purchasers - NO: HC

Mumbai, June 13, 2014 CENVAT - Solvent cleared on duty payment - Probe reveals duty paid Naphtha on which credit was taken was diverted for adulteration of petrol but records show consumption in factory - out of 45 purchasers, only 22 found to be non-existent Matter remanded: CESTAT

Mumbai, June 12, 2014 CENVAT - Appellant arranging 'Supply of Tangible goods service' for use at job worker's premises and bears incidence of Service Tax - prima facie services are �Input Services' : CESTAT

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April 2024 Edition

Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

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

PMLA -Bail application can be dismissed as petitioner failed to satisfy conditions for grant of bail : HC

April 26, 2024

Trade Mark Act - Marks are visually phonetically and deceptively similar to Plaintiffs' trademarks : HC

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