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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 13, 2014 ST - Appellant appointed by foreign clients to provide repair & maintenance service during warranty period on their behalf to buyers in India - service qualifies as Export - Appeal allowed with consequential relief: CESTAT

Mumbai, November 13, 2014 Cus - Notfn.45/2013 is not clarificatory, hence not retrospective - appellant is not eligible for benefit of exemption from safeguard duty and anti-dumping duty in r/o ex-bond B/E filed on 09/05/2013 although DFIA authorisation was transferred on 09/04/2013- Appeal dismissed: CESTAT by Majority

Paris, November 12, 2014 Developing countries to play larger role in G20 efforts to curb corporate tax avoidance: OECD

New Delhi, November 12, 2014 Income tax - Whether when assessee executes toll road on BOT basis, same can be treated as 'plant' and depreciation is available - NO: HC

Mumbai, November 12, 2014 Income tax - Whether provisions of Section 14A are attracted when investment is made by assessee in foreign subsidiary and dividend received on such investment is not tax free as per Section 10 - YES: ITAT

Mumbai, November 12, 2014 CENVAT - Inputs written off as obsolete - Rule 3(5B) of CCR, 2004 does not have retrospective effect - Reversal of credit not called for - Revenue's appeal dismissed: CESTAT

Mumbai, November 12, 2014 ST - Applicant is not a banking company and ST is payable only on issuance of bank guarantee by bank - Commission received upon issuing guarantees to various corporate entities is prima facie not liable to ST: CESTAT

Mumbai, November 11, 2014 ST - Refund - Commissioner(A) has given strange reasons to deny appellant benefit - he is not taking consistent stand in his reasoning - he has not read Apex Court decision - Notification 21/2009 does not have retrospective effect: CESTAT

New Delhi, November 11, 2014 I-T - Whether in absence of certainty about rate of surcharge because of uncertainty about date with reference to which rate is to be applied, it can be said that surcharge as per existing provision of Sec 113 was leviable on block assessment qua undisclosed income - NO: SC

Chennai, November 11, 2014 Demand of 10% under Rule 6 of CCRs on Petroleum gases returned to refinery in terms of Notification No 4/2006 and 12/2012 - High Court sets aside SCN

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