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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, March 03, 2016 Interest tax - Whether reassessment can be initiated even if there is no assessment order - NO: Supreme Court

New Delhi, March 03, 2016 Competition Act, 2002: Whether Director General of Health services qualifies as enterprise under Section 2(h) of Competition Act and be subject to DG investigation for alleged abuse of its dominant position - YES : COMPAT

Mumbai, March 03, 2016 ST - Since appellant has no requirement of 'advertising agency service' for manufacture and export of goods, tax demanded is not on consideration for a service received in India but a tax on funds transferred in a cross-border transaction - Such a tax is not contemplated in FA, 1994 - appeal allowed: CESTAT

New Delhi, March 02, 2016 Central Excise - Refund - Interest on delayed refund - Section 11BB - Interest payable if refund not paid within three months from date of application: SC

Mumbai, February 28, 2016 ST - Agreement between appellants and vendor is for transfer of immoveable property by way of sale - Transaction is squarely covered by exclusion from definition of service u/s 65B and, therefore, outside ambit of tax: CESTAT

New Delhi, February 27, 2016 Indian equity market relatively resilient; Credit offtake for industry sector slowing: Economic Survey

Chandigarh, February 27, 2016 I-T - Whether when there are four registered co-owners of a house property, assessee is entitled to deduction against only 25% of interest paid on housing loan - YES: HC

Ahmedabad, February 26, 2016 CX - Credit of Additional duty leviable under CTA, 1975 - Amendment made in CCR3(7) in 2009 by notfn. 22/2009-CX(NT) is only for purpose of removal of doubts and not for any other reason - denial of credit for earlier period has no rationale: CESTAT

Kolkata, February 26, 2016 Settlement - Explanation inserted by FA, 2014 in s. 32O(1)(i) is consistent with statutory intent & a reiteration of statutory provisions in sec 32E(1), hence clarificatory - bar from filing subsequent application consequent upon penalty in earlier case was always in vogue: HC

Mumbai, February 26, 2016 CX - Least that is expected of last fact finding authority is to consider record of submissions in detail - Tribunal has failed to perform its duty and in accordance with law - Matter remanded: High Court

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