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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 27, 2014 FM again assures State FMs economic spin-off of GST to benefit States more; says Finance Commission Report under active consideration

Mumbai, December 27, 2014 CENVAT - Chemicals supplied to job worker for use in processing of semi-finished parts - Job worker utilising excess CENVATTED inputs than norms - appellant imposing penalty to maintain efficiency - no cause for reversal of credit: CESTAT

Mumbai, December 26, 2014 Cus - A one line sentence that case involves a pre-meditated modus operandi and is a prima facie case in favour of Revenue cannot constitute an order of pre-deposit - since no sufficient reasons given, matter remanded: CESTAT

Mumbai, December 26, 2014 Income tax - Whether payment on sale of shares can be treated as mere accommodation of cash, in case of availability of DMAT account showing credit of share transactions and contract notes from brokers - NO: HC

New Delhi, December 26, 2014 Failure to examine panch witness and variation in purity of samples results in acquittal of accused under NDPS Act by High Court

Ahmedabad, December 25, 2014 ST - Petitioner society, engaged in maintaining common ETP and providing facility to members - s.65(25a) was declared unconstitutional by HC - notification also gives retro exemption - Demand of Rs 71 lakhs set aside: HC

New Delhi, December 25, 2014 CENVAT credit availed on capital goods & Input services used in erection of transmission towers - on what basis it was evident that appellants 'knew' that taking credit was irregular is not discerned from SCN - issue received clarity only after LB decision in Vandana Global - Pre-deposit of Rs 143 Cr waived: CESTAT

Mumbai, December 24, 2014 Cus - Royalty paid for engineering & supervisory services are includible in AV of equipment imported u/r 9(1)(c) and 9(1)(e) of CVR as these payments are integrally connected with & formed part of package deal: CESTAT

Ahmedabad, December 24, 2014 Income tax - Whether if assessee does not claim Sec 80IA benefits in initial years, same can be claimed in subsequent years when conditions stipulated are fulfilled - YES: HC

Mumbai, December 24, 2014 CENVAT - Wind mill installed by appellant away from factory to generate electricity which has been used in course of business of manufacturing - credit of ST paid on annual maintenance charges of wind mill is admissible: CESTAT

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April 25, 2024 | New Delhi

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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

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I-T- DTAA does not get triggered at all when a domestic company pays DDT u/s 115-O of the Act : ITAT

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

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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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