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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, August 25, 2016 Cus - Commissioner(A) clearly found that Benzopyrrole is freely importable on basis of DGFT letter, yet denied benefit - without contesting, content of letter could not have been rejected - appeal allowed: CESTAT

Kolkata, August 25, 2016 I-T - Whether when writ petitioners were not aware of CBDT notification, limitation on that account shall not remain suspended nor can period during which appellant was ignorant about change of jurisdiction can be excluded from period granted for filing appeal - YES: HC

Mumbai, August 25, 2016 CX - In absence of any restrictive clause in agreement, amount received by respondent towards pre-delivery inspection, erection/installation/commissioning charges are not includible in AV: CESTAT

New Delhi, August 24, 2016 Cus - Imports from Nepal - SAD Exemption notification 124/2000-Cus dt. 29.09.2000 amending Notfn. 37/96-Cus dt. 23.07.96 is not clarificatory and was intended to be applied prospectively - Appeals dismissed: Supreme Court

Mumbai, August 24, 2016 Cus - Detailed affidavit turns counterproductive & whole case of Department is revealed whereby all wrong doers are then alerted - authorities should issue SCN and commence adjudication promptly or take steps so that export consignments are not withheld for long duration: HC

Mumbai, August 24, 2016 ST - Appellant engaging services of foreigners - Since amounts paid by appellant to hotels and rent-a-cab services are actual expenses, these amounts cannot be considered as an amount which are to be taxed under reverse charge mechanism: CESTAT

Mumbai, August 24, 2016 Cus - There is no time limit specified for exercise of option to redeem confiscated goods - Exercise of that option cannot, therefore, be denied at any stage and an appeal, even if pending, is not affected by exercise of such option: CESTAT

Kolkata, August 24, 2016 I-T - Whether when assessee port has not claimed status of local authority to claim exemption u/s 10(20), even then Explanation inserted w.e.f AY 2003-04 would apply to determine its status for assessment and tax rate applicable - NO: ITAT

Mumbai, August 24, 2016 Cus - Rule 9 of Valuation Rules, 1998 does not confer blanket mandate to add value of elements of contract merely because supply of imported goods are covered in same contract : CESTAT

Ahmedabad, August 23, 2016 Penalty - Legislature while granting discretion to executive has also provided for sufficient guidelines and safeguards so that such discretion does not convert into arbitrary or discretionary exercise of powers -challenge to constitutional validity of s. 11(2), 11(3) of FTDR Act, 1992 fails: High Court

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