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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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Chandigarh, May 22, 2018 I-T - Abnormally high LTCG in short span of time without expert advice, from unlisted company's share whose even net worth is not known to assessee, is beyond business logics and is a valid reason to make addition u/s 68: ITAT

Mumbai, May 22, 2018 CX - CENVAT - Merely routing billing transaction through appellant will not make appellant as recipient of C&F service: CESTAT

Mumbai, May 22, 2018 ST - Whether ticket is bought directly from airline or through General Sales Agent (GSA), same would not make any difference - classifying services under BAS and demanding tax is not sustainable: CESTAT

Mumbai, May 21, 2018 CX - Valuation -S.4 of CEA, 1944 - Price prevailing for sale at depot immediately 'prior' to clearance from factory gate was to be adopted: CESTAT

Chennai, May 21, 2018 I-T - Assessee cannot claim interim stay against recovery proceedings as a matter of right, simply on ground of his appeal pending before higher Forum: HC

Mumbai, May 21, 2018 ST - Site Transfer activity involves processing of goods not amounting to manufacture and, therefore, same are taxable under BAS - services partly performed outside India is also export - rebate available: CESTAT

Ahmedabad, May 19, 2018 I-T - If assessee fails to produce certain documents, it does not legitimise AO�s presumption that transactions were not genuine: HC

Jaipur, May 19, 2018 I-T - Income surrendered during search can be set off against business loss for AY 2013 -14 as amendment in Sec 115BBE is operative only from AY 2017-18: ITAT

New Delhi, May 18, 2018 I-T - If any industrial undertaking avails benefits under Ss 80-IA & 80-IB, it is still entitiled to avail Sec. 80-IC benefits: SC

Ahmedabad, May 18, 2018 I-T - When assessee's claims were not rejected during original assessment even after scrutiny, any attempt to reopen same would amount to mere 'change of opinion': HC

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