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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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New Delhi, July 13, 2016 Delhi ICD Customs busts gang laundering black money against fake Bills of Entry; Illicit remittances to tune of Rs 220 Crore detected so far

Ernakulam, July 13, 2016 Extending time to comply with payment under VCES Scheme - Petition against refusal by Department to extend time has no merit: High Court

Ahmedabad, July 13, 2016 I-T - Whether partnership firm can be held liable for not disclosing amended partnership deed where AO fails to question firm regarding non-payment of interest & remuneration to partners even as per previous partnership deed, at time of making assessment - NO: HC

Chandigarh, July 13, 2016 CX - Power to arrest is independent from disposal - Dept is bound to follow procedure - As petitioner was not presented before Magistrate by an authorized officer, strong case for grant of bail: HC

Mumbai, July 12, 2016 Cus - There is no need to treat all exporters alike if it is only some exporters who are indulging in wrongful act - if drawback claim is held back, claimants ought to know reason therefor: High Court

Ahmedabad, July 12, 2016 I-T - Whether if there is inordinate delay in sanctioning refund which includes statutory interest, then Revenue is under obligation to pay compensation and not only interest on interest - YES: HC

Mumbai, July 12, 2016 ST - Services rendered by overseas entities to appellant is performance-based service and, to become taxable, requires that at least some portion be rendered in India - role of overseas entity commences and ends beyond border of India: CESTAT

Ahmedabad, July 11, 2016 ST - Since SEZ unit of respondent assessee had not charged for services provided to its DTA unit, no service tax was leviable - invoices were raised for such services merely for purpose of convenience : High Court

Raipur, July 11, 2016 I-T - Whether expenses incurred on voluntarily executed CSR activities exclusively for business purpose are entitled to deduction - YES: ITAT

Mumbai, July 11, 2016 Cus - s.14 of CA, 1962 - In any transaction, terms of agreement need to be given precedence and value at time and place of export as entered between two parties has to be considered for discharge of duty liability: CESTAT

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