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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, September 06, 2014 CX - Valuation - S.4 - Assessee retained with it 50% of Sales tax collected from customers & it was neither actually paid nor was it actually payable to exchequer - Transaction Value was required to be calculated by including amount retained by assessee: SC

New Delhi, September 06, 2014 Arbitration - Whether judicial climate in which arbitral awards are being made and viewed, lends itself to an interpretation which makes it obligatory for Arbitrator to record reasons in support of findings recorded by him - YES: SC

Mumbai, September 06, 2014 ST - It is settled position in law that when levy is introduced on new category of service, same would apply only prospectively and same service cannot be classified elsewhere under other categories prior to inception of levy: CESTAT

Ahmedabad, September 05, 2014 ST - Though the tender documents indicate appointment of handling agent, invoices issued by GOI for sale of imported prilled urea to appellant and subsequent clearances made by appellant to consumers of fertilizers indicate that appointment of handling agent is misnomer, as entire transaction is of purchase and sale of imported urea - No ST payable: CESTAT

Mumbai, September 05, 2014 ST - Outdoor Catering Service - Appellant supplying ready-to-serve food to Khanna Hotels Pvt Ltd - whether food prepared is served by employees of KHPL or by appellant himself requires verification - Matter remanded: CESTAT

New Delhi, September 05, 2014 Income tax - Whether, for the purpose of taxation, cost of acquisition of tenancy right is to be taken as NIL in case of enhanced compensation - YES: HC

Mumbai, September 05, 2014 CX - Apart from cutting & slitting of coils, appellants are putting of layer of plastic for improving drawability & applying inter-leaving paper for protection of material for end use application - such activity is ancillary to completion of manufactured product and, therefore, amounts to manufacture: CESTAT

Mumbai, September 04, 2014 ST - Construction Service - if benefit of Notfn. 1/2006 is not considered while computing exemption and eligibility limits under Notfn. 6/2005, it would certainly result in taking away benefit granted under Notfn. 6/2005: CESTAT

Allahabad, September 04, 2014 VAT - Supply and Installation of Lifts, Elevators - Whether assessable as Works Contracts or Sale Contracts - Assessing Authority held as Sale contract - Revision allowed in view of the order in case of Kone Elevator India Pvt Ltd Vs. State of Tamil Nadu: HC

New Delhi, September 04, 2014 Income tax - Whether donation would become part of corpus where Resolution of donor company stated that shares would be transferred to trust and gift would be towards its corpus - YES: HC

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