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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, February 22, 2019 ST - No respite for State Bank of India - Penalty of Rs. 91 lakhs upheld: CESTAT

New Delhi, February 21, 2019 I-T - Definitions of 'Initial Assessment Year' used in Sections 80IB and 80IC are materially different and Assessee is entitled to deduction of 100% profits: SC Larger Bench

Mumbai, February 21, 2019 CX - Printed stationery supplied by Municipal Printing Press to MCGM offices is not marketable, therefore, not chargeable to duty: CESTAT

Mumbai, February 21, 2019 I-T - Second limb of Sec 2(22)(e) does not get attracted, if creditor company gives loan not directly to its shareholder but to any concern in which such shareholder has substantial interest: HC

Allahabad, February 20, 2019 VAT - Material event for levy of penalty is not failure to carry TDF, rather failure to prove that goods are for interState sale: HC LB

Allahabad, February 20, 2019 VAT - Railways are statutorily obliged to ensure timely TDS deduction; penalty reduced on account of bona fide reasons explaining delay: HC

Mumbai, February 20, 2019 CX - Once Tribunal found that condition of pre-deposit is not complied with, then, it was not open to it to adjudicate matter on merits: High Court

Allahabad, February 20, 2019 I-T - Mistake or non-application of mind at time of passing of original assessment order does not authorize Department to re-initiate proceedings of reassessment: HC

Mumbai, February 20, 2019 CX - Appeal was admitted on substantial questions of law - However, it is for Revenue to decide and withdraw appeals: High Court

Mumbai, February 19, 2019 I-T - Mesne profit fixed by Rent Control Tribunal in eviction proceedings cannot be treated as rent receivable in respect of premises protected by Rent Act: HC

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