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Filing of Form 10A & 10AB: CBDT extends due date to June 30 RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes Israel-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITAT TRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum Leasing I-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITAT Technology Board okays funding of Dhruva Space's Solar Array Project I-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITAT Health Secy visits Bilthoven Biologicals, discusses production of Polio Vaccine I-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITAT Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide I-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITAT Delhi HC says conspiracy against PM is a crime against State I-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITAT Brazil makes new rules to streamline consumption taxes I-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITAT Biden signs rules mandating airlines to give automatic refunds for delayed or cancelled flights I-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITAT BYD trying to redefine luxury for new EV variants GST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HC SC asks EC to submit more info on reliability of EVMs Right to Sleep - A Legal lullaby


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Jammu, September 20, 2017 I-T - No tax liability arises if there is diversion of income at source itself, by overriding title: HC

Ahmedabad, September 20, 2017 I-T - When amended provisions of Sec 245HA(3) mandate access to Revenue to all materials furnished by assessee before SETCOM, even HC cannot prevent Revenue from doing so: Gujarat HC

Bangalore, September 20, 2017 Sale of Old & Scrap buses - whether leviable to 28% GST or 18% GST as Ferrous scrap - Petitions premature, dismissed: HC

Allahabad, September 20, 2017 I-T - When basic objective of Mutual Benefit Company is to take deposit & lend loans to its members, mere fact that some members were also holding positions in Company & loans were given to sister company, it does not call for invoking doctrine of �piercing of veil�: HC

New Delhi, September 20, 2017 DGFT - RITES is GOI Enterprise and not a hapless individual, who can be taken advantage of; cannot canvas that it had made payments under duress: HC

Ahmedabad, September 20, 2017 I-T - Interest income earned by co-operative society from keeping surplus funds in banks, will not qualify for deduction u/s 80P: ITAT

Bangalore, September 20, 2017 ST � VCES, 2013 application could not have been rejected without following the principles of natural justice: High Court

New Delhi, September 19, 2017 PMLA � Economic offences need to be dealt with heavy hand - releasing accused on bail will affect community at large and also jeopardize economy of country- application dismissed: HC

Allahabad, September 19, 2017 I-T- Industrial undertaking formed by transfer of used plant & machinery, cannot claim deduction u/s 80IB(2): HC

Mumbai, September 19, 2017 CX - Incentive scheme is executive instructions of Ministry of Food and thus it could not override provisions of S. 11D of CESA, 1944, enacted by Parliament : HC

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TP - Arm's length computation of corporate guarantees issued by assessee in favour of its AEs abroad taken at 1% which has been approved for earlier A.Ys, cannot be disturbed in absence of contrary: ITAT

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