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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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Ernakulam, March 29, 2019 I-T - Manner of exploitation of property is key to determine nature of any income as either business income or rental income: HC

New Delhi, March 29, 2019 I-T - Charitable society cannot be made to suffer for failure of legal counsel to present requisite documents supporting claim for registration u/s 12AA: ITAT

New Delhi, March 28, 2019 I-T - Once Department gets hold of information which has potential of undermining its findings previously made in original assessment, then it has powers to initiate reassessment: HC

New Delhi, March 28, 2019 I-T - Only such transactions which involve transfer of trade mark by assignment for a consideration are to be taxed as capital gains u/s 55(2)(a): HC

Mumbai, March 28, 2019 I-T - Advance tax or self-assessed tax paid cannot be set off against tax liability arising IDS declaration for lack of specific provision in Scheme: HC

New Delhi, March 27, 2019 I-T - AO who prescribes time limit for filing auditor's report u/s 142(2A) is also entitled to extend time limit even if extension is not sought for by assessee: SC

Mumbai, March 27, 2019 I-T - Revenue cannot tax capital gains when Sec 11(1) itself exempts such receipt if application of such gains is made for objects of Trust: HC

Mumbai, March 27, 2019 Cus - Clearance of old & used goods not permitted as per FTP - Charge of misdeclaration sustainable: CESTAT

Ahmedabad, March 26, 2019 I-T - If additional income is declared in return filed u/s 153A it warrants imposition of penalty u/s 271(1)(c): ITAT

Bangalore, March 26, 2019 CX - Lower authorities cannot interfere with matters pending disposal before Tribunal by attempting to recover duty demands without first seeking vacation of stay granted earlier: 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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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

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April 26, 2024

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

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