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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 17, 2015 ST - As per compromise scheme factory given under leave & licence - ST demand on salary of employees received from FACOR not sustainable as appellant did not function as a commercial concern engaged in supply of manpower : CESTAT

Mumbai, August 16, 2015 COFEPOSA Act - Undue delay in passing detention order under Sec 3(1) - Explanation for delay is not a satisfactory one - Authorities cannot play with liberty of a citizen in casual manner - Detention order set aside: High Court

New Delhi, August 15, 2015 I-T - Whether when assessee is liable to pay advance tax but has failed to pay tax or paid less than 90% of assessed tax, assessee becomes liable to pay simple interest at rate of 1% every month or part of month - YES: Supreme Court

New Delhi, August 15, 2015 Drive against Black Money to continue; Foreign Assets worth Rs 6500 Cr declared under 'Compliance Window' so far: PM

Bangalore, August 14, 2015 I-T - Whether Sec 54F benefit is available to assessee when construction work though has started but is not yet complete in all respects within stipulated period - YES: ITAT

Mumbai, August 14, 2015 ST - Mere reading of invoices and challans by appellant (octroi agent) for purpose of filling up form and obtaining clearance at check post does not amount to 'dealing with or handling documents of title' - demand under BAS not sustainable - Appeal allowed: CESTAT

Bangalore, August 14, 2015 CX - Allegation of CENVAT Credit taken without receipt of inputs - In case of clandestine allegation, onus to establish same is on Revenue, which is required to be satisfied by production of sufficient, tangible and positive evidence

New Delhi, August 13, 2015 Govt yet to firm up mind on reconvening House for GST Bill: FM

New Delhi, August 13, 2015 CX - Once Tribunal's judgment was affirmed by Apex Court by dismissal of Civil Appeal, Tribunal's order merges with Apex Court order and same becomes binding precedent, whose non-consideration would be mistake apparent from record - ROM allowed: CESTAT

New Delhi, August 13, 2015 Import - exemption notification - Burden to prove eligibility is on importer; Writ petition decided by HC on merits at request of petitioner - High Court's Jurisdiction cannot be later questioned: SC

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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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