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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, March 20, 2015 Customs - Import of saloon cars used as taxis - CVD - Central Excise Exemption Notification for manufacturer applicable: Supreme Court

Mumbai, March 20, 2015 ST - Merely because tower parts are assembled together, it would be totally unreasonable to suggest that CENVAT Credit is not admissible - Without use of these duty paid towers/parts as inputs, BSS in form of Passive Telecom Infrastructure could not have been provided - Appeals allowed: CESTAT

Bangalore, March 20, 2015 Income tax - Whether once habitable asset is acquired, any expenditure incurred on additions or improvements of habitable asset is eligible for deduction u/s 54F - YES: HC

New Delhi, March 20, 2015 Cus - Circular 50/2005 referred by petitioner pertains to auction by custodians and in present case Circular applicable is 12/2006 as auction is by customs directly - Petitioner has no locus standi - Petition dismissed: High Court

Brussels, March 19, 2015 Curbing corporate tax avoidance: European Commission unfolds tax transparency package; to improve cross-border tax rulings among Members

Mumbai, March 19, 2015 ST - Refund of Service Tax - Amendment by notification 33/2008 to notification 41/2007 enhancing refund quantum to 10 per cent of FOB value of export goods is not retrospective - Appeal dismissed: CESTAT

Allahabad, March 19, 2015 Income tax - Whether advance tax liability can be adjusted against cash lying in account of Revenue which was seized from assessee during search and seizure operation - YES, rules High Court

Patna, March 19, 2015 CX - Tone and tenor of correspondences made by petitioner discloses intention not to participate in proceedings, at any cost - One does not expect such type of response from manufacturer who is facing penal proceedings: High Court

New Delhi, March 18, 2015 CST - Whether in order to constitute an inter-State sale, movement of goods should be occasioned by way of sale and such movement of goods must be inextricably connected with sale - YES: Supreme Court

Mumbai, March 18, 2015 When complaints are made that old matters are not being taken up and given priority, then, firstly Revenue should put its house in order - High-level officers to apply their mind: High Court

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