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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 01, 2015 Whether sum for transfer of shares and handing over of management & control of company is liable to be treated as such payment u/s 28(ii)(a) - YES: HC

Mumbai, January 01, 2015 CENVAT - Only basis for denying credit has been that invoices are either in name of another unit of appellant or in name of their HO - doubt has never been raised regarding the actual receipt of services, so credit admissible: CESTAT

Mumbai, January 01, 2015 CX - Premises obtained on lease from MIDC - Registration cannot be denied on ground that earlier occupant of premises had dues pending against them: CESTAT

Mumbai, December 31, 2014 Cus - Appeal - Petitioner cannot be allowed to take advantage of its own wrong - they cannot get over period of limitation under s.s (1) of s. 128 of Customs Act with aid of s.s (2) of s. 14 of Limitation Act, 1963 - Petitions dismissed: HC

Ahmedabad, December 31, 2014 Levy of ST on reverse charge is on different basis than valuation of excisable goods u/s 4 of CEA, 1944 - reimbursements made regarding marketing cost incurred by distributors appointed by appellant in foreign countries is liable to ST: CESTAT

Mumbai, December 31, 2014 CENVAT - Inputs received in 2003 to 2005 and credit taken in 2006 - there is no time period prescribed in CCRs - Merely because Tribunal took view that one year is reasonable period does not mean that if credit is not taken within one year, it is inadmissible: CESTAT

Chennai, December 31, 2014 I-T - Whether if assessee has invested Rs 50 lakh each in two different FYs, within a period of six months from date of transfer of capital asset, Sec 54EC benefit is to be allowed only for year in which transaction was made - NO: HC

Mumbai, December 31, 2014 Cus - Adjudication is serious exercise and business - It cannot be concluded light heartedly, casually and hastily: High Court

Mumbai, December 30, 2014 Cus - How and in what manner foreign trade needs to be developed and regulated is to be decided by authorities under - Court must not examine these issues as they are policy decision to be taken by executive: HC

Allahabad, December 30, 2014 ST - Stay and waiver of pre-deposit - incumbent upon Tribunal to have addressed issue of prima facie case of the appellant and also that of undue hardship: HC

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