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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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New Delhi, December 15, 2015 CX - Seizure of sale proceeds of clandestinely manufactured goods - Power applicable for seizure is equally applicable for provisional release - Absence of provision for release of currency under Excise Act is irrelevant: CESTAT

New Delhi, December 15, 2015 Central Excise - Process of cold-rolling on hot-rolled stainless steel patta/pattis amounts to 'manufacture' : Supreme Court

New Delhi, December 15, 2015 CX - Clandestine removal - There is no provision in CEA, 1944 that raises presumption and shifts burden on to person who is charged with clandestine removal of excisable goods: High Court

New Delhi, December 15, 2015 Customs - Revocation of CHA licence - Investigation disclosed gross mis-declaration of goods in terms of quantity, quality and value to defraud government by availing inadmissible drawback amount of over Rs. 34 Lakhs - Revocation of license is justified: CESTAT

Ahmedabad, December 15, 2015 I-T - Whether when certain products commercially known as 'scrap' are 'usable as such' during process of ship breaking, they would still be considered as 'waste and scrap', as envisaged in Explanation to Sec 206C(1) - NO: HC

Bangalore, December 14, 2015 Customs - Differential duty paid on account of increase in rate of duty after assessment of Bill of Entry - Whether importer is liable to pay interest u/s 47(2) - Matter referred to Third Member in view of difference of opinion

New Delhi, December 14, 2015 Cars imported under EPCG Scheme by Hotel, used by its directors - Hotel is not required to use cars for transporting foreign tourists to earn foreign exchange - Action by DRI premature - Demand of duty aside by Tribunal

Mumbai, December 14, 2015 CX - Export price is CIF, therefore, place of removal in case of export stands extended up to port - Transportation incurred for clearances of goods from factory to port is within term 'clearances of final products upto place of removal' therefore GTA is an Input service even after amendment: CESTAT

New Delhi, December 14, 2015 Competition Law - Whether Chairperson, who did not hear arguments of counsels representing appellants on three consecutive dates could become a party to final order passed under Sec 27 - NO: COMPAT

New Delhi, December 13, 2015 10 Bills passed by Lok Sabha still to be taken up in Rajya Sabha; GST Bill likely to be taken up this week

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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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