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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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Pune, February 11, 2015 I-T - Whether provisions of Sec 50C come into play only when there is transfer of land or building or both but certainly not leasehold rights in land - YES: ITAT

Mumbai, February 11, 2015 Cus - Revenue has retained pre-deposit for more than 2 years for no reason - as no appeal was filed against stay, therefore, it is clear case of harassment - Commissioner, JNCH, to dispose claim within one month: CESTAT

Mumbai, February 10, 2015 I-T - Whether when assessee files delayed TDS return fee charged u/s 234E is in relation to extra work forced upon Revenue and it is not necessarily punitive - YES: Bombay HC

Mumbai, February 10, 2015 ST - Applicants have taken over activities of managing Hotel - If they themselves are managing affairs of organization, it does not fall under 'Management Consultancy Service' - Appeal allowed: CESTAT by Majority

Mumbai, February 10, 2015 Sales promotion & marketing fall within definition of BAS - ST liability is attracted when services are received from foreign service provider & service recipient is situated in India - ST on consideration paid for services received for period on or after 18/04/2006 is beyond challenge: CESTAT

Chennai, February 10, 2015 Income tax - Whether assessee would satisfy conditions of Sec 80IA if it has already exercised option of setting off losses and deductions against other business income - YES: HC

Mumbai, February 10, 2015 Cus - Declaration & bond are entirely different and distinct - To equate bond executed with declaration is an assault on common sense and amounts to absurdity as that would imply that execution of bond was mere formality and same is not binding on importer: CESTAT

Mumbai, February 09, 2015 ST - If conclusion, that merely because appellant is registered as stockbroker they are to be considered as financial institution, is sustained then all stockbrokers dealing in securities would be FIs: CESTAT

Ernakulam, February 09, 2015 Whether income derived from slot charter operations of tonnage tax company is liable to be excluded while determining income under tonnage scheme if such operations are carried on in ships which are not 'qualifying ships' - NO: HC

Mumbai, February 09, 2015 CX - Mere cutting and slitting of paper roll and conversion into foolscap sheets does not change identity of paper - activity is not manufacture u/s 2(f) - much water has flown on subject matter: CESTAT

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April 24, 2024

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

April 24, 2024

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April 25, 2024

IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC

April 25, 2024

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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