"January, 2021" Archive

Loss of stock due to fire- AO cannot disallow merely for Insurance

Nikon Systems Pvt. Ltd Vs ACIT (ITAT Delhi)

Nikon Systems Pvt. Ltd Vs ACIT (ITAT Delhi) Admittedly, fire occurred during the year, the traded goods of the assessee are lost during the year due to fire. Such traded goods were the stock in trade of the assessee. Undoubtedly, the traded goods were insured with the insurance Co for any loss due to fire. […]...

Read More

Petitioner cannot be made to suffer for No provision of restoration of GST registration in Software: HC

Vidyut Majdoor Kalyan Samiti Vs State of U.P. (Allahabad High Court)

Vidyut Majdoor Kalyan Samiti Vs State of U.P. (Allahabad High Court) The contention that there is no provision of restoration of a GST registration, once it has been cancelled borders on the absurd. In case, no provision for its restoration has been made in the software, the same is not the fault of the petitioner […]...

Read More

Section 41(1) addition cannot be made merely for non-confirmation by creditors

Krishnaping Alloys Ltd vs ACIT (ITAT Mumbai)

Non-appearance or non-response of creditors could not be sole ground to draw an adverse inference against assessee, when assessee had filed necessary evidence to prove that liability was genuine in nature, which was subsequently paid back by converting said liability into share application money....

Read More

CIT(A) cannot enhance Assessment without giving section 251(2) notice

Syed Maqsoodulla Vs ITO (ITAT Bangalore)

Syed Maqsoodulla Vs ITO (ITAT Bangalore)  In the present case also the assessee’s turnover was Rs.9,45,200/- and offered income of Rs.4,84,158/– u/s. 44AD of the I.T. Act. If the AO wants to make any addition, he shall ignore income returned by the assessee and proceed to scrutiny the accounts so as to make any addition. [&hellip...

Read More

Employer’s Responsibility For TDS Under Income Tax Act

 1. The employer cannot be faulted for not deducting tax at source from leave travel concession facility allowed by him to employees where the employee has travelled, as a part of composite itinerary involving a foreign sector as well, to destination in India. The position with respect to the taxability of such a leave travel […]...

Read More
Posted Under: Income Tax |

Foreign travel expense not allowable if no nexus between travel & business purpose

DCIT Vs Ritesh Properties & Industries Ltd. (ITAT Delhi)

DCIT Vs Ritesh Properties & Industries Ltd. (ITAT Delhi) 1. Foreign travel expense not allowable if no nexus between travel & business purpose Though the counsel submits that the action of the CIT(A) in upholding the disallowance of Rs.7,02,655/- on the ground that the said expenditure was incurred for foreign travel for personal ...

Read More

Group service fees paid to AEs: ITAT restore the matter to AO / TPO

Disa India Limited Vs ITO (ITAT Bangalore)

Disa India Limited Vs ITO (ITAT Bangalore) The Tribunal in assessee’s own case for assessment year 2012-2013 (supra) had directed to do afresh transfer pricing analysis and determine the ALP of international transactions with regard to group service fees paid by the assessee to its AEs. In view of the Tribunal order in assessee’s own ...

Read More

Depreciation eligible on Bus Terminal constructed on BOT basis

JCIT (OSD) Vs Rohan and Rajdeep Infrastructure Pvt. Ltd. (ITAT Pune)

JCIT (OSD) Vs Rohan and Rajdeep Infrastructure Pvt. Ltd. (ITAT Pune) Assessee incurred expenditure in constructing Amritsar Bus Terminal on BOT basis and to recoup the said investment, the assessee was allowed to collect add a fees from the users of the said bus terminal. In our view, the said right is business or commercial […]...

Read More

Not to block EWB Portal of petitioner till further order: HC

Barak Valley Cements Ltd Vs Union of India (Gauhati High Court)

Barak Valley Cements Ltd Vs Union of India (Gauhati High Court) Petitioners were informed that unless they clear their GSTR-3B return for 02 or more tax periods upto August, 2020, their EWB generation facility will be blocked on the EWB portal. If the petitioner company fails to pay as informed then the EWB portal will […]...

Read More

Blocking of EWB Portal- HC disposes contempt petition

Barak Valley Cements Ltd Vs Union of India (Gauhati High Court)

Barak Valley Cements Ltd Vs Union of India And 5 Ors. (Gauhati High Court) Mr. Keyal, learned standing counsel appearing for the GST and also representing the respondent Nos. 1, 2 & 3 submits on instructions that the order passed by this Court vide order dated 14.10.2020 has not been violated and the EWB Portal […]...

Read More

Search Posts by Date

May 2021
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31