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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, July 10, 2015 ST - Petitioner claiming that Circular and O-in-O founded on same is ultra vires - Merely making a reference to some Circular would not mean that Tribunal cannot be approached or that Tribunal will not view matter in its entirety: HC

Chennai, July 10, 2015 I-T - Whether once losses and other deductions were set off against income of previous year, same cannot be reopened again for computation of current year benefits under Ss 80I or 80IA - YES: HC

Mumbai, July 10, 2015 ST Rebate - Appeal lies before JS(R), Ministry of Finance, Govt of India - Registry to transfer all these cases to Government of India: CESTAT

Mumbai, July 10, 2015 CENVAT - Credit of SAD availed on strength of supplementary invoices denied on ground that duty was paid by supplier after detection of short levy - Tribunal held that non-reversal of SAD by M/s MIRC cannot be with intention to evade duty on such components, as appellant had discharged liability of CVD - Credit admissible: CESTAT

Chennai, July 09, 2015 Demand of MODVAT/CENVAT Credit on inputs used in spent sulphuric acid cleared under exemption - No error in the order of Tribunal holding that credit is admissible - High Court affirms Tribunal order

Hyderabad, July 09, 2015 VAT - Whether in absence of any notice to levy penalty or interest prior to settlement of tax dispute, it is open to Revenue to pass further order for interest on sum which has already been paid - NO: HC

Ernakulam, July 09, 2015 I-T - Whether when assessee, on cancellation of purchase of flats, refunds sum with a part of excess amount collected from new purchaser, such excess payment is to be construed as interest, liable to TDS u/s 194A - NO: HC

Mumbai, July 09, 2015 CX - Job work - Detaining part of LDPE received from customer and replacing same by locally purchased cheaper LLDPE - difference in value is nothing but additional consideration and is required to be added in AV of final product Polyfilm: CESTAT

Mumbai, July 08, 2015 CENVAT - definition of 'input service' does not restrict that said services have to be rendered in factory premises of manufacturer - Services of inspecting vehicles at RTO is an Input service - Credit admissible - Appeals allowed: CESTAT

Bangalore, July 08, 2015 I-T - Whether if assessee is a secured creditor, in that case even Crown debt could be discharged only after debt of secured creditors stand discharged, so would happen with income tax dues - YES: HC

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