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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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Nainital, March 13, 2014 CX - Assessee's dues cannot be recovered from properties of appellant, who purchased it in auction - In law, a person cannot be remediless, particularly in matters, which is void ab initio from day one - If action complained of is non est, same can be challenged even after 100 years in writ: HC

New Delhi, March 12, 2014 ST - activity of site formation, excavation of top soil and overburden has to be treated as activity ancillary to mining and since overall contract is for mining and as such it is an indivisible contract - Demand for period 16/6/05 to 31/5/07 set aside: CESTAT

New Delhi, March 12, 2014 Income tax - Whether return of fund received by assessee from Central Govt towards equity but no shares allotted and interest was paid on same, can be construed as business expenditure - YES: Delhi HC

Mumbai, March 12, 2014 Settlement - A course of settlement is available only where petitioners on their own want to make clean breast of their affairs and not where petitioner wants to resist notices by challenging several statements relied upon by Revenue - Petition dismissed: HC

Chennai, March 11, 2014 Cus - Appeal against orders of Tribunal - SCN issued by Vizag Customs - Order passed by Appellate Commissioner at Hyderabad - Next Appeal passed by CEGAT, Chennai - Appeal lies to AP High Court and not Madras High Court

Mumbai, March 11, 2014 Income tax - Whether where assessee's intention is to earn long-term income from investment made out of own funds and Revenue has accepted same in preceding years, gains from same investment can be treated as business income - NO: ITAT

Mumbai, March 11, 2014 CENVAT - Activity of sieving & packing is not notified as manufacturing in respect of goods falling under Chapter 25 - hence it cannot be said that appellant manufactured exempted goods - since appellant has taken credit of 4% SAD on imported inputs, they are required to reverse the same: CESTAT

Mumbai, March 10, 2014 Cus - Project Import - materials imported for one unit of specified project cannot be used elsewhere in any other unit - Benefit of concessional rate of duty not available - Appeal dismissed: CESTAT by Majority

New Delhi, March 10, 2014 Income tax - Whether expenditure incurred by assessee company on foreign studies of Director's son working as employee and furnishing bond to work for longer period after studies are over, is business expenditure u/s 37 - YES: HC

Mumbai, March 10, 2014 CX - s. 2(f) - Plastic films subjected to printing using rotogravure cylinders - Later, laminated by binding & laminates then taken for slitting into proper size - process amounts to manufacture - no reversal of CENVAT credit: CESTAT

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