Nishith Desai explains how Indian Finance Bill 2012 cannot justify retroactivity by hiding behind UK and China’s similar enactments – UK made decided cases immune, while China cast net not on planning but avoidance [ET]

SEBI warns NSE to report massive client code modifications (CCMs) in the future, as IT dept alerts SEBI about tax avoidance through CCMs of more then Rs 55000 in a single month by 10 brokers [Business Standard] [Money Control]

New TRAI regulations on mobile banking: SMS, USSD, IVR made mandatory for access providers acting as bearers, time frame for message delivery, delivery report mandatory, 2-step message cap for basic banking services, 99.5 per cent mandatory success rate for message delivery, mandatory privacy and security, 6-month transaction record [Medianama]

As the parliamentary debate draws near, write to your MP against a draconian internet censorship law – IT Intermediary Rules, and know why [CIS India] [Internet Democracy]

Indian Tea Board fights against GI trademark infringement by Russian tea-mixers and others using the word “Darjeeling Tea” [The Hindu Businessline] [Spicy IP]

Increased tension between Indian private and public sector, from ‘constitutional outsourcing’ of public responsibility overrides RTE’s social inclusiveness [Mint]