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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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Chennai, April 26, 2016 I-T - Whether TDS is liable to be deducted with respect of FTS where manufacturing activity as well as export contracts entered into by assessee were concluded in India only - YES: ITAT

Chennai, April 26, 2016 I-T - Whether an amount representing principal loan if waived by bank under one time settlement scheme which assessee received during course of business, constitutes income u/s 28(iv) and hence, liable to tax - YES: HC

New Delhi, April 26, 2016 Service Tax - Cargo Handling Service - Quashing of Show Cause Notice by High Court upheld - Supreme Court

Mumbai, April 26, 2016 Cus - 'Act II Microwave Popcorn' - Appellant manufactures very same product in India and classifies same under 20081190 and discharges appropriate CE duty, which has been accepted by department, then there is no reason for not extending said classification under Customs Tariff for the imported goods: CESTAT

New Delhi, April 25, 2016 Litigation Management - CBEC orders withdrawal of 2051 & 5261 cases from HCs & CESTAT respectively

New Delhi, April 25, 2016 Pre-deposit by SBS Organics Pvt Ltd being a borrower, before DRAT u/s 18 of SARFAESI Act, is not a 'secured asset' in hands of Axis Bank, being a secured creditor: Supreme Court

Chennai, April 25, 2016 JDA - Land owner has no locus standi to challenge CBEC Circular dated 10.02.2012 - Exchange of undivided land with builder for constructed area amounts to Service - Landowner is not on different footing than other buyers: HC

Ahmedabad, April 25, 2016 I-T - Whether when chances of recovery of advances made in connection with business are slender, assessee tends to lose right to claim foreseeable business loss as bad debt - NO: HC

Mumbai, April 25, 2016 CX - Excisability of Sugar Syrup - what is relevant is test of marketability & not sugar contents in syrup - there is no evidence whatsoever of test of marketability in proceedings anywhere - CX duty demand not sustainable: CESTAT

New Delhi, April 24, 2016 Parliament Session to open tomorrow; to take up GST Bill, Finance Bill & Factories Bill

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April 24, 2024

TP - Arm's length computation of corporate guarantees issued by assessee in favour of its AEs abroad taken at 1% which has been approved for earlier A.Ys, cannot be disturbed in absence of contrary: ITAT

April 24, 2024

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April 25, 2024

IBC - Even if CIRP commences, Directors, who are incharge of affairs of Company cannot be absolved of any wilful default committed by borrower Company : HC

April 25, 2024

SARFAESI Act - Writ petition can be disposed of as infructuous as one time settlement has been entered into between parties : HC

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