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IndiGo orders 30 Airbus A350s for long hauls 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 CPGRAMS recognized as best practice in Commonwealth Secretaries of public service Israel-Iran War: A close shave for Global Economy but for how long?KABIL, CSIR ink MoU for Advancing Geophysical Investigations 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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Bangalore, December 01, 2016 I-T - Whether provision for estimates of expenditure made for upcoming years, can be claimed as deduction, without adducing any evidences in respect of the same - NO: ITAT

Mumbai, December 01, 2016 Cus - Declaration of conformity filed before US authorities indicates that boats are recreational craft - classifiable under Hdg 8903 as Motorboats: CESTAT

New Delhi, November 30, 2016 Service Tax - Sharing a common storage facility does not amount to one party providing a service to another : SC

New Delhi, November 30, 2016 CX - Single application for settlement in case of same search & seizure leading to SCN for seized goods is proper: HC

Mumbai, November 30, 2016 CENVAT - Under Rule 6(3) manufacturer can avail any one option - once first option is exercised, a different option for other goods is not allowed: CESTAT

Ahmedabad, November 30, 2016 I-T - Whether 'debit balances' in name of Director, in books of company at close of year, can be termed as deemed dividend u/s 2(22)(e) - NO: ITAT

Ahmedabad, November 29, 2016 I-T - Whether interest earned on FDs kept in foreign currency for obtaining LoC for purchase of plant & machinery taxable as 'income from other sources' - NO: HC

Mumbai, November 29, 2016 Cus - There is no express condition mandating production of invoice issued by M/s Ableace, Malaysia and payment being effected by importer to Malaysian entity who may thereafter tender payment to entity in China: CESTAT

Bangalore, November 29, 2016 Service Tax - Review of Order in Original by Commissioner u/s 84 after appeal against same was disposed of by Commissioner (Appeals) is illegal - Doctrine of Merger applies - Tribunal

New Delhi, November 28, 2016 Demonetisation Saga - Govt proposes to amend I-T Act to introduce one more CESS; 75% tax on undisclosed income & 10% penalty on detection of black money

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