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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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Mumbai, May 29, 2018 CX - Whether price is higher or lower during exemption and thereafter cannot alone be ground to hold that appellant has collected amount representing excise duty: CESTAT

New Delhi, May 28, 2018 CX - Payment of duty, whether made before or after issuing SCN is not determinative and a relevant factor for deciding whether or not penalty should be imposed u/s 11AC of CEA: High Court

New Delhi, May 28, 2018 CX - As final fact finding authority, Tribunal can rely upon reasoning, findings or inferences given in o-in-o but there has to be also independent application of mind and not a mere repetition, even if final conclusion is one of affirmation: HC

Ahmedabad, May 28, 2018 I-T - When a co-operative housing society offers some of its open plots for sale, then receipts from such transaction are not chargeable to tax as business income in their hands: HC

New Delhi, May 27, 2018 Service Matter - Relief to Ashok Aggarwal - Disciplinary authority cannot approve initiation of enquiry by ignoring statements of witnesses and merely relying on gist of evidence forwarded by CBI: HC

Ernakulam, May 26, 2018 I-T - Taxable event arises as soon as interest income on bank deposits accrues & becomes due; Deferred receipts on instruction of depositor will not make it hypothetical income: HC

New Delhi, May 25, 2018 I-T - It is not open for AO to make additions while framing assessment u/s 143(3) merely on basis of seized documents beyond period of limitation u/s 153A: ITAT

Mumbai, May 25, 2018 CX - Internal records showed lesser receipt of base oil - no exercise undertaken to ascertain whether goods were diverted en-route, whether compensation claimed - CENVAT credit not deniable: CESTAT

Chennai, May 25, 2018 I-T - In absence of any yardstick or guideline to determine an expenditure as excessive payment, AO has no discretion to make disallowance: HC

Mumbai, May 25, 2018 ST - Late fee for delay in furnishing prescribed returns - Appellant has no ground to seek relief which is not available u/r 7C of STR, 1994: CESTAT

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