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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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Chennai, January 30, 2014 CX - CENVAT Credit - Suo motu credit of wrongly debited amount - No refund Claim required - Credit by assessee upheld: High Court

Ranchi, January 30, 2014 Income tax - Whether, for purpose of assessment of undisclosed income, loose papers seized during Search have any evidentiary value - YES, rules HC

Bangalore, January 30, 2014 Service Tax - chemical analysis and furnishing test results for pesticides - whether covered within ambit of Service Tax - Tribunal order without application of mind and without considering facts - Matter Remanded: High Court

Mumbai, January 30, 2014 CX - HSD cleared to IOCL which in turn supplied same to Indian Navy for consumption on board naval vessels - Exemption under Notf. 64/95 cannot be allowed to indirect supplies - Amending Notf. 37/2007 is prospective in nature - Demands upheld but penalty set aside: CESTAT

Mumbai, January 29, 2014 ST - Appellant providing premises & manpower supply to conduct business - sum received not chargeable to ST under BAS - Prima facie activity is one of renting of immovable property - matter remanded: CESTAT

Chennai, January 29, 2014 Income tax - Whether when unremitted export sales is excluded from export turnover, same should also be excluded from total turnover for purpose of Sec 10A benefits - NO: Madras HC

Mumbai, January 29, 2014 CX - Assembly of duty paid parts of furniture, whether amounts to manufacture - supplier paid duty under Heading 9403 which covers 'Other furniture' - assessee only assembling parts at site - no manufacture involved: CESTAT

New Delhi, January 28, 2014 ST - Table Space provided by Auto Dealers to representatives of FIs in premises and payment is received for that singular activity - such sum may perhaps constitute rent - it is not BAS : CESTAT Larger Bench

Bangalore, January 28, 2014 Income tax - Whether in case of TDS default by assessee, criminal prosecution can be launched independent of recovery proceedings - YES: HC

New Delhi, January 28, 2014 CX - Rule 8(3A) - Default in payment of duty - whether payment through CENVAT is permissible during default - whether penalty of Rs 5000 u/r 27 is sufficient - whether penalty is imposable u/r 25 for fraud committed although not invoked - Matter referred to Third Member: CESTAT

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