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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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Ahmedabad, March 26, 2014 Income tax - Whether for availing exemption u/s 54EC, period of investment of six months should be reckoned after the date of transfer or from end of British Calendar month in which transfer of capital asset took place - verdict favours assessee: ITAT Special Bench

New Delhi, March 26, 2014 NDPS - Transhipment is for import or export - Section 23 not applicable for transport of Indian ganja: Supreme Court

Mumbai, March 26, 2014 CX - Whether machinery supplied have key characteristic of lift when assembled - Panel of Engineers appointed, now disassembled - Member(T) recuses himself, new Member(T) appointed to preside and matter to be heard finally by Tribunal itself by hearing on two consecutive days: CESTAT

Hyderabad, March 26, 2014 ST - Waiver of Pre-deposit - Tribunal wrong on proposition of law that financial difficulty is subordinate criterion - Prima facie case is not only criterion, but financial hardship is to be considered side by side: HC

New Delhi, March 26, 2014 Income tax - Whether booking rights or right to purchase apartment is also a transferable capital asset - YES: Delhi HC

Mumbai, March 26, 2014 CX - Imported plywood subjected to process of dipping into chemical solution and thereafter kept for drying - such coating makes plywood termite free & is sold as Marine plywood - it is not manufacture: CESTAT

New Delhi, March 25, 2014 Customs - Anti Dumping Duty - Refund when Original Assessment Order not challenged - Refund of Anti Dumping Duty is covered by Sec 9AA of Cus Tariff Act which is complete code - Sec 27 not applicable always: High Court

Chennai, March 25, 2014 Income tax - Whether when assessee is into warehousing business, income earned as rental, interest on FDs and loans given to staff is also eligible for exemption u/s 10(29) - NO: Madras HC

Mumbai, March 25, 2014 CX - provisional assessment - reading of rule 7(4), 8(1) & 8(3) would lead one to conclude that appellants are required to pay interest - fact that they have paid duty before finalization will not make any difference: CESTAT

Mumbai, March 24, 2014 ST - Commercial Training - Consideration received by sale of prospectus and admission forms prima facie cannot be considered as part of service provided - Order confirming demand set aside and matter remanded: 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

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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