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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 Israel-Iran War: A close shave for Global Economy but for how long?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, May 31, 2018 I-T - Under Rule 25, there is no element of period of limitation for assessee to file application before Tribunal for restoration of appeals: HC

Chandigarh, May 31, 2018 Cus - Revenue has not produced any evidence to reflect upon inaccuracy of transaction value - Since same has not been rejected by Revenue, it has to be accepted: CESTAT by Majority

Mumbai, May 31, 2018 ST - Only part of value of such service which represents 'interest' is exempted by notfn. 29/2004-ST, therefore, Rule 6(3) has no application: CESTAT

Chennai, May 30, 2018 Regular transactions with unauthorised lender cannot be overlooked merely because such a lender was giving loans & accepting repayments in cash only: HC

Mumbai, May 30, 2018 Cus - MF, DR was required to act in tandem with DGFT - there should not be any discord - failure of Customs to issue notification on time cannot be held against respondent: CESTAT

Mumbai, May 30, 2018 ST - All services provided to Maharashtra State Electricity Transmission Co Ltd 'in relation to' transmission of electricity are exempted by notification 45/2010-ST & 11/2010-ST: CESTAT

Ahmedabad, May 30, 2018 Department should not retain coercively-collected cheques from dealers in garb of protecting revenue, when amount of tax itself was not crystallized: HC

New Delhi, May 29, 2018 I-T - While claiming Sec. 80IB benefits, law does not mandate accounting of balcony area for calculating limit of 1000 sq. feet for a period prior to April 1, 2005: HC

Ahmedabad, May 29, 2018 I-T - When statute provides power to authorities for condoning delay then minor delay on part of assessee in filing revision petition, if supported by reasonable explanation, can be allowed: HC

Mumbai, May 29, 2018 ST - Respondent paying ST under wrong assessee code - Issue is not of classification or refund which is of legal and/or recurring in nature - exclusion provided in litigation policy not applicable: CESTAT

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