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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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Hyderabad, April 28, 2016 PMLA - Whether summons issued to petitioner under Sec 50 of PMLA is violative of Constitutional protection under Article 20(3) - At stage of investigation, Petitioner cannot be called accused - Petition dismissed: High Court

Mumbai, April 28, 2016 I-T - Whether where assessee first accepts jurisdiction of AO and then questions it during reassessment, validity of notice issued cannot be challenged under Article 226 of Constitution as assessee is not remdedy-less - YES: HC

Mumbai, April 28, 2016 CX - When a brand name owned by an entity using that brand name for a particular product is assigned to another entity for temporary ownership, for use in a different product, SSI exemption cannot be denied: CESTAT

New Delhi, April 27, 2016 I-T - Whether provisions of Section 147 can be resorted to in order to correct judgemental errors of AOs - NO: HC

New Delhi, April 27, 2016 Cus - Notfn 46/2011 - Gold dore bars which are an impure form of gold appear to have been thought to be refined gold and this in turn led to needless doubt regarding capability of Indonesian supplier to produce goods for jewellery - Board Circular ultra vires s. 151A of CA, 1962: HC

Chennai, April 27, 2016 CX - Marks 'Q' and 'I' embossed on jewellery amounts to sale of branded jewellery - Demand of duty upheld: CESTAT

Mumbai, April 27, 2016 I-T - Whether expenses connected with exempt income have to be disallowed u/s 14A regardless of whether they are direct or indirect, fixed or variable and managerial or financial - YES: ITAT

Mumbai, April 27, 2016 Cus - Respondent was liable to pay royalty to Licensor even when they imported raw material from anybody else and do not at all import same from related foreign supplier - allegation that payment of royalty is relatable to goods and is a condition for sale of goods cannot be sustained: CESTAT

New Delhi, April 26, 2016 I-T - Whether when a hotel employee earns some tips from customers, such income is also chargeable to tax under the head 'salaries' u/s 192 - NO: SC

Mumbai, April 26, 2016 CX - Assembly of a system from various equipment as 'turn-key project' may be a professional performance of specialized contract which would not, however, render such project to be manufacture unless product that emerges is classifiable under one of specific headings of tariff: CESTAT

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