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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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Ahmedabad, October 23, 2015 Coal classification issue - It is convention to grant waiver of pre-deposit when matter is referred to Larger Bench - Dismissal of modification application is not correct - HC grants complete waiver and modifies Tribunal's order

Ahmedabad, October 23, 2015 I-T - Whether amount of subsidy received prior to insertion of Explanation 10 to sub-section (1) of section 43 is to be reduced from cost of assets - YES: HC

New Delhi, October 23, 2015 ST - As appellant has filed returns regularly, foundation of SCN invoking s. 72(a) is incorrect - no allegation that appellant have failed to assess tax as per provisions of law, hence s.72(b) not attracted - SCN is deficient: CESTAT

Geneva, October 22, 2015 WTO Members express concern over Indian import procedure for apple, marble products & boric acid

New York, October 22, 2015 Women today account for 22% of Parliamentarians & 18% of appointed Ministers: UN Report

Mumbai, October 21, 2015 Cus - From 6/8/2014 there is no provision under new section 129E of Customs Act, 1962 that provides for stay by Tribunal against order of Commissioner or Commissioner (Appeals) - Application dismissed: CESTAT

Ahmedabad, October 21, 2015 Service Tax - Recovery under Section 87 cannot be resorted to at Show Cause Notice stage - High Court quashes notices issued to debtors under Section 87

New Delhi, October 21, 2015 CX - Automobile parts sold in boxes of 100 units each - fasteners are sold to wholesaler enabling them to deliver such fasteners to consumer - since in terms of rule 29 there is no requirement to declare RSP, duty based on TV is legal: CESTAT

Kolkata, October 21, 2015 Cus - Notfn. 20/2006 - Electrode Grade Calcined Petroleum Coke - there is nothing in Notification that exemption is available only to 'coke' derived from 'coal' & not derived from 'petroleum' - restriction cannot be imported into notification: CESTAT

New Delhi, October 20, 2015 Cus - Proceedings before Settlement Commission are not adjudicatory but are by way of settlement - Court does not sit in appeal over settlement orders passed- No interference called for in matter of penalty and fine imposed by CCESC - Petition dismissed: High Court

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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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