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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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Mumbai, November 17, 2015 ST - s 73(3) - Amount of tax paid along with interest before issuance of SCN - When SCN itself should not have been issued there is no question of imposing any penalty - Penalties imposed under Ss 76, 77, 78 set aside & appeal allowed: CESTAT

Mumbai, November 17, 2015 ST - Appellant, Association of Housing Industry, conducts exhibitions for builders who are members as well as non-members - charges fees - No liability arises on sum from members but on fees collected from non-members liability arises: CESTAT

Allahabad, November 17, 2015 I-T - Whether exemption u/s 10(23C)(vi) can be denied to a Society running only educational institution on mere pretext that it is making profit - NO: HC

Mumbai, November 17, 2015 CX - By-product furnace gases cleared under exemption - Credit of that quantity of inputs shall be allowed which is required for manufacture, irrespective of fact that certain by-products emerge - no cause for invoking rule 6(3): CESTAT

New Delhi, November 16, 2015 CX - Finalisation of provisional assessments - Inter se adjustment of excess and short payment is allowed : CESTAT by majority

Mumbai, November 16, 2015 Cus - Tribunal becomes functus officio as Doctrine of merger applies - Tribunal has no jurisdiction to entertain application for restoration of appeal when condition of pre-deposit as ordered by High Court is violated by appellant - Applications dismissed: CESTAT by Majority

Mumbai, November 16, 2015 CENVAT - Notfn 67/95 - Furnace is capital goods, hence credit on Inputs used in manufacture of furnace in factory is admissible as such capital goods are used within factory for manufacture of dutiable goods: CESTAT

Mumbai, November 16, 2015 I-T - Whether sum paid to acquire unexpired portion of service agreements which will generate revenue for assessee, is to be treated as revenue expenditure - YES: ITAT

Ahmedabad, November 16, 2015 Cus - Notfn 21/2002 - Imported goods subjected to process of coating at Customs Warehouse and thereafter cleared to ONGC Project - surplus material cannot be treated as unauthorized diversion - Demand of duty not sustainable: CESTAT

New Delhi, November 15, 2015 ST - Civil work undertaken for Airports Authority of India � Tax computed on cost of materials supplied - service component involved of 25% to 44% - Tribunal order directing pre-deposit of Rs.17.5 lakhs with interest modified: High Court

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