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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, January 03, 2019 I-T - When settlement of shares was done by settler of Trust by way of ESOP and not direct purchase from market, then income generated therefrom cannot be construed as 'business income' of trust: HC

Mumbai, January 02, 2019 I-T - Adjusting refunds without any outstanding dues, based on presumptions will attract penalty on officer concerned: HC

Ahmedabad, January 02, 2019 I-T - Assessee's acceptance of GP rate determined by AO does not act as estoppel against right to challenge such findings on merits: ITAT

Mumbai, January 02, 2019 ST - IT authorities assessed remuneration paid to directors as 'salary' - no tax payable under reverse charge basis: CESTAT

Bengaluru, January 01, 2019 I-T - Department cannot be blamed for non-consideration of neccesary evidences, if assessee himself has deliberately made no appearence or furnished those documents before assessment: HC

Mumbai, January 01, 2019 I-T - Fees charged by banks for processing credit card payments, cannot be construed as 'commision' warranting any tax liability u/s 194H: HC

Mumbai, January 01, 2019 Cus - 'Micromanipulator', can, by no stretch, be considered to be an accessory of 'microscope' - rightly classifiable under CTH 9018 9099: CESTAT

Mumbai, December 31, 2018 Cus - Furniture is assessed to duty as 'unit' and not by weight, therefore, loading invoice price on pro rata basis to extent of excess weight of furniture is unsustainable in law: CESTAT

Chandigarh, December 31, 2018 I-T - Revisionary powers are to be invoked only when there is no inquiry done by AO and not inadequate inquiry: ITAT

Jaipur, December 29, 2018 I-T - Method of valuation of stock consistently followed by assessee and accepted by AO in preceding years, cannot be changed by AO without any substantial reason: ITAT

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