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Right to Sleep - A Legal lullaby US warns Pak of punitive sanctions against trade deal with Iran I-T- Income surrendered before approaching Settlement Commission not covered u/s 115BBE, where this provision did not exist during relevant AYs: HC Chinese companies decry anti-subsidy probe by EU I-T- Entire interest expenditure is allowable as deduction if loan funds is not diverted for non-income earning activities/personal purposes : ITAT UK’s key water supplier, Thames Water, slips into financial quagmire I-T- Sale consideration cannot be considered as unexplained cash credit if sale takes place in online platform and sale consideration is received through stock broker in banking channels : ITAT UK to send military aid package worth USD 619 mn to Ukraine I-T- Section 69C includes expenditures reflected in account books, as well as those discovered during Search & Seizure for which no valid explanation is forthcoming from assessee: ITAT US regulator bans non-compete agreements by employees I-T- Penalty imposed u/s 273B upheld where assessee unable to provide just cause for failure to file audit report within prescribed due date as per Section 44AB: ITAT Palestinian PM unveils new reform package I-T- Assessee cannot contest validity of penalty notice on grounds of irrelevant provision not being struck off, by highlighting such defect for the first time before ITAT itself: ITAT Air India, Nippon Airways join hands for travel between India and Japan Govt receives 7 bids for giga-scale Advanced Chemistry Cell under PLI 10 killed as two Malaysian Military copters crash I-T- Lower authorities erred in disallowing long term capital loss : ITAT SC grills Baba Ramdev & Balkrishna in misleading ad case 1351 candidates to contest in phase 3 of LS Elections I-T- Revisionary order u/s 263 invalidated where passed in ignorance of repeated factual submissions to prove that original assessment order is not erroneous or prejudicial to revenue's interests: ITAT Indian Coast Guard, Oman Coast Guard to jointly combat transnational illegal activities at sea ST - Department cannot retain any amount which is otherwise not payable by the Assessee; nothing acts as embargo on assessee's right to demand refund of tax paid under misaken notion: CESTAT AFMS, ICMR join hands to undertake biomedical research for Armed Forces Cus - If noticee seeks Cross Examination of such persons, same should be granted, appellant will produce all documentary evidence before Adjudicating Authority in support of their claim that seized gold is part of their normally procured gold in course of their commercial transactions: CESTAT


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Ernakulam, November 28, 2016 I-T - Whether an owner deserves exemption from Sec 23 for quantification of annual letting value of his building, if it was let out to company in which owner is interested - NO: HC

Mumbai, November 28, 2016 ST - If bar of 'unjust enrichment' has been invoked then eligibility for claim has been accepted by authority - original or appellate - because only eligible amounts can be credited to Fund: CESTAT

New Delhi, November 28, 2016 'Renting of motor vehicle' for transport of employees to and from factory is eligible for credit post 01/04/2011 - Interpretation of exclusion clause of input service definition by the department is not correct: CESTAT

New Delhi, November 27, 2016 Black money is rampant in education, trading and real estate sectors: Gangwar

Mumbai, November 27, 2016 Cus - Warehoused goods - appellant has right to relinquish its title to said goods even after expiry of warehousing period: CESTAT

New Delhi, November 26, 2016 Drafts of Model GST Law, IGST Law and Compensation Law: Opens up for information of industry and stake holders

New Delhi, November 26, 2016 China + Pakistan's proposal on e-commerce taken up debate at WTO Goods Council; China also sought debate over payment & logistic services

New Delhi, November 25, 2016 Ketamine HCl is psychotropic substance - NDPS Act is special law as compared to general procedural law of CrPC - Order of release of vehicle set aside: HC

Ahmedabad, November 25, 2016 I-T - ITO can levy interest u/s 234B for second time, if the same was set aside by CIT(A) and no appeal had been preferred - NO: HC

Mumbai, November 25, 2016 CX - Revenue authorities have no business to issue letter directing appellant to pay interest- in absence of invocation of s.11AA in SCN, demand is not sustainable: CESTAT

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