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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, June 10, 2015 I-T - Whether if it is proved that interest paid on borrowed capital was directly attributable to acquisition of business, it can still be assumed that loan was for acquisition of mutual funds also - NO: HC

Mumbai, June 10, 2015 ST - Fitness Services - By undergoing meditation course, an individual will definitely be physically well as he is at peace with his inner soul - meditation helps an individual in attaining mental peace and physical well-being of an individual would also encompass mental peace: CESTAT

Mumbai, June 10, 2015 Cus - Tribunal does not have any powers under Civil Services Rules, 1965 to take action or even to recommend or give any directions to Commissioner regarding action against errant officers - MA for rectification filed by Revenue allowed: CESTAT

New Delhi, June 09, 2015 Cus - Conflict assumed in order of reference is misconceived and there is no warrant for Larger bench to resolve non-existent conflict - Reference rejected and appeal remitted to Division Bench: CESTAT Larger Bench

Mumbai, June 09, 2015 ST - Transportation of Gas through Pipeline - Services of CICS, ECIS, WCS rendered by pipeline laying contractors is prima facie an Input Service and CENVAT credit is admissible - Pre-deposit of Rs.262.13 crores waived and stay granted: CESTAT by Majority

Allahabad, June 09, 2015 CX - Tribunal was not justified in recording its finding on inapplicability of extended period of limitation by ignoring facts mentioned in O-in-O - Revenue appeal allowed: High Court

Kolkata, June 09, 2015 I-T - Whether when returned wealth is accepted by AO u/s 153A, there cannot be a case of concealment of income or furnishing inaccurate particulars of income - YES: ITAT

Allahabad, June 09, 2015 CX - Loss of finished goods within permissible limits - Remission Application is mandatory - High Court reverses order of Tribunal

Mumbai, June 08, 2015 CX - Sec 35B - Matter relates to rebate of duty of excise on goods exported - against order of Commissioner(A), appeal filed before CESTAT is not maintainable as Tribunal has no jurisdiction to entertain same: CESTAT

Allahabad, June 08, 2015 CENVAT Credit is not admissible on Welding Electrodes used for repair and maintenance u/r 57A/57B of CE Rules, 1944 or Rule 2 of CCRs, 2001: 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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SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC

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