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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, December 05, 2015 I-T - Whether block assessment proceedings have a limitation that assessment can only be done on basis of evidence found as a result of search or requisition of books of account - YES: HC

New Delhi, December 04, 2015 GST Panel recommends 15-15.5% RNR; also prescribes 3 different rates

Pune, December 04, 2015 I-T - Whether beneficial provisions of Sec 80E mandate that higher education is to be pursued only in India and not in foreign university - NO: ITAT

Ahmedabad, December 04, 2015 CX - Cess on Paper is not includable in calculation of Education Cess as Paper cess cannot be treated as duty, which is both levied and collected by Department of Revenue - Revenue appeal rejected: CESTAT

Mumbai, December 04, 2015 Cus - VKUY scrip obtained by submitting forged shipping bills - For purpose of s.114AA of CA, 1962, movement or existence of goods is not necessary - Penalty of Rs.10 lakhs rightly imposed: CESTAT

Mumbai, December 03, 2015 ST - Sec 87 - Unless and until there is crystallization of demand by proper adjudication order and on hearing Petitioner, there was no question of any recovery - letters addressed to bank to freeze current accounts of petitioner are quashed & set aside: HC

New Delhi, December 03, 2015 Competition Law - Whether spares and after sales services can be treated as relevant separate market, when consumers are able to determine total life cycle cost of product and OEMs are not charging exorbitant prices for spare parts: NO is answer

Mumbai, December 03, 2015 I-T - Whether professional fee paid for registration of copyright is capital expenditure and hence entitled for depreciation - YES: ITAT

Mumbai, December 02, 2015 CX - Parts of scania trucks, dumpers & dozers are covered by definition of automobile - fact that these parts are not put in container is immaterial - Putting tag would amount to labelling goods & amounts to manufacture - goods are subject to assessment u/s 4A: CESTAT

Mumbai, December 02, 2015 ST - If assessee is not put to notice under which category ST is sought to be demanded, conclusion reached by first appellate authority that new case cannot be made is correct and does not suffer from any infirmity - Revenue's appeal rejected: CESTAT

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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

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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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