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Archive: 27 June 2022

Posts in 27 June 2022

Application for condonation of delay cannot be rejected without assigning any specific reasons

June 27, 2022 5898 Views 0 comment Print

Rahul M. Vadodariya Vs ITO (ITAT Ahmedabad) ITAT held that Ld. CIT(A) has not approached the matter judiciously and has dismissed the appeal of the assessee, by rejecting the application for condonation of delay, without assigning any specific reasons why the delay in filing appeal should not be condoned. There is no allegation to the […]

GST on Works contract services provided to Malabar Cancer Centre

June 27, 2022 597 Views 0 comment Print

In re Uralungal Labour Contract Co-operative Society Ltd (GST AAR Kerala) Malabar Cancer Centre, a society registered under the Societies Registration Act is established by the State Government under the administrative control of the Department of Health and Family Welfare as a comprehensive cancer centre to provide oncology care and treatment to the general public. […]

ITAT quashes section 271(1)(c) penalty as VAT was paid before due date of return

June 27, 2022 225 Views 0 comment Print

Ganesh Jagannath Choukse Vs ACIT (ITAT Nagpur) This appeal is filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals)-1, Nagpur, [“Ld. CIT(A)”, for short], dated 29/05/2017 for Assessment Year 2012-13. 2. The brief facts of the case are that the Assessee has filed return on, 15.05.2013 declaring income of Rs.15,83,910/-. […]

Section 271C penalty not imposable if TDS was not deductible

June 27, 2022 1104 Views 0 comment Print

Assessee has challenged the imposition of penalty under Section 271C of the Income Tax Act for non deduction of tax at source as per provisions of Chapter XVII-B towards amount paid as External Development Charges (EDC) to Directorate of Town and Country Planning, Haryana (Haryana Government) (DGTCP) through banking channel favouring Haryana Urban Development Authority (HUDA).

Cash Payment cannot be treated as payment to single person merely for consolidated payments to group leader

June 27, 2022 1557 Views 0 comment Print

Explore the details of Rahul Udyog’s appeal against ITO, focusing on TDS disallowance and business expenses. Analysis of Hamali, Jalau Lakdi, Bardana expenses, and interest disallowance.

CBDT notifies Seventy Second Investment Company LLC U/s. 10(23FE)

June 27, 2022 1101 Views 0 comment Print

Notification of Seventy Second Investment Company LLC as a sovereign wealth fund under section 10(23FE) of the Income tax Act, 1961 vide Notification No. 69/2022-Income Tax, Dated: 27.06.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 27th June, 2022 Notification No. 69/2022-Income Tax S.O. 2910(E).—In exercise of powers conferred […]

No Section 271(1)(b) penalty where assessment is completed u/s 143(3)

June 27, 2022 537 Views 0 comment Print

Explore the case of Salasar Derivatives Pvt. Ltd. against ITO, focusing on the justification of penalty under section 271(1)(b) of the Income Tax Act. Detailed analysis and conclusion.

ITAT allows addition for cash deposit in bank on Peak Credit Basis

June 27, 2022 846 Views 0 comment Print

Explore the case of Vakeel Ahmad against ITO, focusing on bank deposits, withdrawals, and the taxation of peak credit. Detailed analysis of the order by ITAT Lucknow for Assessment Year 2010-11.

Depreciation on securities Available for Sale (AFS) is allowable claim

June 27, 2022 888 Views 0 comment Print

Dive into the case of Maninagar Co. Op. Bank Ltd. against DCIT, focusing on the disallowance of depreciation on Govt. Securities. Detailed analysis of the ITAT Ahmedabad’s order for AY 2012-13.

Substantive additions on protective basis: ITAT restores matter back to AO

June 27, 2022 1638 Views 0 comment Print

Explore the ACIT Vs Zodiac Transport case as ITAT Delhi directs fresh adjudication on protective additions, influenced by the SVP Group entities recent partial relief.

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