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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, March 06, 2014 CENVAT - Export goods rejected by importer - goods re-imported & Credit availed of CVD - credit denied & penalty imposed - as per rule 16, any goods on which duty has been paid at time of removal when brought back to factory would be eligible to credit - pre-deposit ordered: CESTAT

New Delhi, March 05, 2014 NDPS - Sec 50 - Accused must be individually informed that u/s 50(1) of NDPS Act, he has right to be searched before a nearest gazetted officer or before nearest Magistrate: SC

Mumbai, March 05, 2014 Income tax - Whether assessment can be reopened when issue of non-receipt of forex within a period of 6 months from end of AY was not subject matter of original assessment - YES: HC

Mumbai, March 05, 2014 CX- Rule 8(3A) of CER, 2002 - default - although what is required to be paid is to be construed as arrears of revenue the same have to be paid in cash - any other interpretation will make restriction meaningless: CESTAT

Mumbai, March 04, 2014 CX - Valuation - CX (Determination of RSP) Rules is curative provision to deal with situation where RSP is not declared - they are procedural & therefore, retrospective and can be applied to all pending proceedings: CESTAT by Majority

Ahmedabad, March 04, 2014 Income tax - Whether deposits in PPF Account are immune from attachment for recovery of tax dues - YES: HC

Mumbai, March 04, 2014 Cus - CHA prohibited to function as Customs broker - provisions of CBLR, 2013 cannot be interpreted in such a way so as to override provisions of s.146(2) of Customs - appeal dismissed as not maintainable: CESTAT

New Delhi, March 03, 2014 CX - Valuation - Transaction Value - Sales Tax Incentive - 75% of Sales tax collected retained with assessee as incentive - Not includible in AV prior to 1.7.2000 - Includible in transaction value after 1.7.2000 - SC

Ernakulam, March 03, 2014 I-T - Whether when assessee-trust that runs a school for children of non-residents, excludes poor children from its ambit, can still claim to be charitable - NO: HC

New Delhi, March 03, 2014 Service Tax - Appeal against an order of CESTAT - to High Court or Supreme Court? - Question relates to rate of tax - no appeal to High Court: HC

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