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RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes Israel-Iran War: A close shave for Global Economy but for how long?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, December 27, 2013 Central Excise - CENVAT Credit on returned goods - Duty paying Documents - Adjudication Order beyond the scope of Show Cause Notice not sustainable - CESTAT by majority

Chennai, December 26, 2013 Income tax - Whether any payment made for transfer of copyright for a perpetual period of 99 years is not royalty but a transaction for sale - YES: Madras HC

New Delhi, December 26, 2013 Service Tax - Tour operator - No tax on outbound tours - service tax is not tax on pursuit of profession of providing taxable service but is tax on provision of service; Adjudication Authority seeking administrative advice disturbing: CESTAT

Mumbai, December 26, 2013 CX - if appellant has not included amortized cost of dies or cost of drawings for manufacture of goods, consideration received would be includable in AV - submission that dies are exempted from duty since captively consumed and hence cost not includible is wrong: CESTAT

New Delhi, December 25, 2013 Income tax - Whether enduring benefit test has limitation and cannot be mechanically applied without considering commercial or business aspects - YES: Delhi HC

Mumbai, December 25, 2013 ST - Tour Operator Service - Activity of tour is undertaken in Srinagar and provisions of FA, 1994 are not applicable to J&K - applicant has a strong case in favour - pre-deposit waived and stay granted: CESTAT

New Delhi, December 25, 2013 Petrapole & Benapole Land Customs Stations to work 24x7 from Jan 1, 2014

New Delhi, December 25, 2013 Sibal launches e-literacy manual to empower Rural India

Mumbai, December 24, 2013 ST - appellant receiving services from Foreign Contractors for pre-construction activity at offshore locations including Continental Shelf of India & EEZ of India - not taxable to Service Tax under reverse charge mechanism: CESTAT

Chennai, December 24, 2013 I-T - Whether activities like conducting IPL matches through sale of high priced tickets do not per se affect genuineness of charitable activities of Cricket association u/s 12AA - YES: Madras HC

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