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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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New Delhi, December 17, 2016 Setback for telecom Cos; Apex Court upholds levy of property tax on mobile towers; rules such towers are akin to land & building as per Entry 49 of List II of Constitution

Kolkata, December 17, 2016 ST - Cleaning services provided to Assam University & KVS has been held to be non-taxable by Comm(A) against which Revenue is not in appeal: CESTAT

New Delhi, December 16, 2016 I-T - Whether after amendments vide FAs, 2000 & 2003, colour of Section 10A changed from exemption to provision of deduction - YES: SC

Mumbai, December 16, 2016 CX - Without adverting to important question raised namely, whether amending provision is clarificatory and, therefore, retrospective, order has been passed - Matter remanded: HC

Chandigarh, December 16, 2016 I-T - Whether liability to pay interest u/s 234A & 234B can be fastened till date of recovery of tax dues, if such interest was partly waived by Sec 119 order on assessee's plea for adjustment of dues against bank a/c attached - NO: HC

New Delhi, December 16, 2016 Cus - Dept. cannot take shelter under device of 'detention' in order to avoid consequences flowing from 'seizure' of goods: HC

Ahmedabad, December 16, 2016 Delay condonation - It cannot be presumed that assessee would have received order in 10 days from date of despatch by RPAD - Order of CESTAT set aside and matter remanded - HC

Chennai, December 15, 2016 I-T - Whether a retired employee can be denied benefits of exemptions granted u/s 119 merely because revised return was filed beyond stipulated time period - NO: HC

Chennai, December 15, 2016 Customs - Settlement Commission - Bar u/s 127B is not applicable even though consignments contained zip fasteners in absence of any seizure or allegation of smuggling: HC

Allahabad, December 15, 2016 CX - Jaljeera is classifiable under CSH 09.03 upto 01.03.2005 and for subsequent period under CSH 09.10 - duty confirmed under CSH 21.08 does not sustain: CESTAT

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