Form 16 not for refunds

New Delhi, May 29: The income tax department has said there was no need to append Form 16 with the returns on income to avail of tax refunds. “A taxpayer is not required to file any document relating to computation of income or challans or TDS certificates (Form 16 or Form 16A) along with these annexure-less returns, irrespective of whether a refund is claimed,” an official release said today.

Ranbaxy case

New Delhi, May 29: A Norway court has ruled in favour of Ranbaxy in its ongoing litigation over anti-cholesterol drug Lipitor against Pfizer. The court said four of Pfizer’s patents were either invalid or not infringed by Ranbaxy. Pfizer said it would immediately appeal against the ruling.

Ratnagiri plan

New Delhi, May 29: Ratnagiri Gas & Power, the owner of the Dabhol power project, is keen to source natural gas for the 2,150mw plant from Reliance Industries’ KG basin field.

Sensitive items

New Delhi, May 29: Imports of sensitive items such as milk, milk products, rubber and alcoholic beverages have increased 10.5 per cent in 2006-07 to Rs 18,555 crore from Rs 16,789 crore in the previous year.

Elder Pharma

Mumbai, May 29: Elder Pharmaceuticals has entered into an in-licensing arrangement with the US-based Cymbiotics for marketing their pharmaceutical formulations in India.