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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, January 03, 2014 Clandestine clearances - Mere reliance on diaries or statements cannot justify finding of clandestine manufacture - There should be tangible evidence of such manufacture and clearance and demand cannot be confirmed merely on inferences or unwarranted assumptions: CESTAT

New Delhi, January 02, 2014 Income tax - Whether when assesse shows certain advance received from non-resident majority shareholder towards exports in books for 10 years, such a sum cannot be construed as taxable receipt u/s 41(1) unless same is written off in books - YES: ITAT

New Delhi, January 02, 2014 Service Tax - Section 72 - Best Judgement - No order passed ; only Show Cause Notice issued - assessee directed to reply to Show Cause Notice: High Court

Mumbai, January 02, 2014 CX - Word ‘Automobile' is not defined in CETA - Loader, Backhoe loader & Road Rollers are Automobiles - Parts & assemblies are covered in Third Schedule - purchase of various parts & repacking them under own brand name amounts to manufacture & are subject to s.4A valuation: CESTAT

Chennai, January 01, 2014 Service Tax - when abatement is claimed, it should be from value inclusive of all materials used for providing service: CESTAT

Bangalore, January 01, 2014 Income tax - Whether Section 54F benefits can be denied on ground that house purchased by assessee was not fit for residence as it had no doors nor windows - NO: HC

Mumbai, January 01, 2014 CX - Stock transfers by EOU to other units do not attract Sales Tax/VAT - it cannot be said that VAT is 'exempted' so as to deny benefit of exemption from SAD in view of specific exemption granted under notfn. 23/2003-CE - Appeals allowed: CESTAT

New Delhi, December 31, 2013 Demand of duty on clandestine removals - Tribunal by majority upholds demand

Bangalore, December 31, 2013 Income tax - Whether when initial expenses incurred on development of software is capitalised, any expenditure on further improvement of the same is to be necessarily treated as capital in nature - NO: HC

Mumbai, December 31, 2013 Cus - Used Fuji Frontier 370 Printer with accessories is used for developing photo films as well as digital printing and, therefore, order confiscating goods as being hazardous waste is not sustainable - goods classifiable under heading 9010 and not under chapter 84: CESTAT

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