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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, November 19, 2014 CBLR, 2013 - We are at loss to understand when GOI certifies and registers vessel as 'research' ship, how other wing of GOI understands same vessel as Seismographic 'survey' vessel - revoking CB licence of appellant is absolutely unwarranted - Appeal allowed: CESTAT

Mumbai, November 18, 2014 Cus - Foreign Related entity - While service agreement is for rendering of management consultancy services, secondment agreement is for deputation of staff - these have nothing to do with import of raw materials nor were services received condition for sale of imported goods - order set aside: CESTAT

Bangalore, November 18, 2014 Income tax - Whether when each beneficiary contributes money to assessee - Trust for earning higher returns, it can be said that beneficiaries have come together to form an AOP - NO: ITAT

Hyderabad, November 18, 2014 Time spent before wrong forum is excludable for computing limitation before Commissioner(A) - No error in order of Tribunal restoring appeal before Commissioner (A) - Revenue's appeal dismissed: High Court

New Delhi, November 17, 2014 Central Excise - Appeals - Can CESTAT dismiss an appeal for want of prosecution? 'No', holds Supreme Court Larger Bench

Ahmedabad, November 17, 2014 CE - Rule 21 of CER, 2002 - Appellant is eligible for remission of duty in respect of goods cleared for export under bond but which were destroyed at port before same could be exported: CESTAT Larger Bench

Mumbai, November 17, 2014 ST - Notfn. 29/2004 - Commission earned on discounting of account receivable is nothing but interest for lending money - Penal interest on bills of exchange discounted is also part of interest on loan - Prima facie exempted: CESTAT

Mumbai, November 17, 2014 Income tax - Whether undisclosed income revealed post-search inquiry can be assessed within scope of block assessment, although time for filing return for such assessment year has not expired as on date of search - YES: HC

Chennai, November 17, 2014 Customs - Abandoned goods - Tribunal fell in error in setting aside penalty u/s 112(a) in respect of goods abandoned u/s 23(2) - Revenue's appeal allowed and penalty restored: High Court

Brisbane, November 16, 2014 Let profits be taxed where economic activities are performed and value is created: G-20 Leaders

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