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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 I-T - Re-assessment is invalid where based only on a suspicion that income escaped assessment & where not based on concrete reasons to believe for commencing such proceedings : ITAT 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 Cus - When Department has not complied with time limit, the order issued for revocation of licence or order issued for continuation of suspension licence cannot sustain: CESTAT NY top court quashes conviction of Harvey Weinstein in rape case Weather prediction normal for phase 2 poll day IndiGo orders 30 Airbus A350s for long hauls ST - Appellant is an 'authorised medical practitioner' providing 'healthcare services' - services exempted in terms of clause 2(i) of notification 25/2012-ST: Commr(A)RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes REC avails SACE-Covered Green Loan for 60.5 Billion Japanese Yen Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide Cus - 'Small Form-factor Pluggable Optical Transceivers' are classifiable under CTH 8517 7090 and not under CTH 8517 62 90 - entitled for benefit of duty concession under 57/2017-Cus: CESTAT DoNER discusses Development of Tourism in North East CX - Appellant is eligible for exemption under Notfn 12/2012-CE upon fulfilling all conditions stipulated therein, thus sufficiently establishing that goods dealt with by Appellants qualify for exemption: CESTAT


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New Delhi, January 22, 2018 I-T - Whether benefit of Sec 80P is available even to income derived from marketing of agri produce not grown by its Members - NO: Supreme Court

Mumbai, January 22, 2018 Cus - Misplaced sympathy of adjudicating authority against breach of law - levy of redemption fine and penalty of Rs.5 lakhs each appears to be too low and is an incentive to wrong doing - CBEC to issue proper guidelines: CESTAT

Ahmedabad, January 22, 2018 I-T - Agreement of assessee towards additions made by AO will not negate consequential penalty to zero: ITAT

Mumbai, January 22, 2018 CX - Deposit under a wrong head also goes to Revenue only - cannot be construed as non-payment: CESTAT

Mumbai, January 22, 2018 CX - Rondo Trays are not corrugated boxes as corrugation is only a shape of compartment to keep ampoules and vials: CESTAT

Bangalore, January 20, 2018 VAT - ITC is a substantive right and it cannot be denied merely on basis of some machinery provisions or flimsy technical error or even on ground of limitation: HC

New Delhi, January 19, 2018 I-T - Discretionary waiver of interest charged u/s 234A to 234C by Settlement Commission, will not negate corresponding right for refund of interest to assessee: SC

Mumbai, January 19, 2018 CX - Claim of assessee that as soon as they paid tax, same became credit in their account is misplaced - Law as it existed at time of taking credit would be applicable: CESTAT

Mumbai, January 19, 2018 I-T - Finance cost incurred on overdraft obtained from bank, which is advanced to sister concern for no business purpose, is not allowable business loss: ITAT

Mumbai, January 19, 2018 CX - If insurance cover in respect of which credit has been claimed is exclusively in respect of injuries or damages to factory employee, then credit would be admissible: CESTAT

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