DCIT Vs Medi Sales India Pvt. Ltd. (ITAT Chennai) Issue– Disallowance by the AO by not allowing assessee’s claim holding that the CBDT Circular No. 5/2012 dated 01.08.2012 applies only to pharmaceutical manufacturers and not to distributors like the assessee. Upon careful consideration of material facts, it could be gathered that the assessee merely acts […]
The company being an unlisted public limited one with a paid-up capital of Rs. 29,70,00,000/- failed to appoint Whole-time Company Secretary within 06 (six) months from the date of casual vacancy i.e. from 17.02.2020 to 10.06.2022, in accordance ‘with Sec. 203(4) of the Companies Act, 2013 and also not appointed Chief Executive Officer (CEO-KMP) within […]
G.S.T. registration stands restored. If the Department wants to proceed against the writ-applicant in future on any grounds, it may do so in accordance with law after giving due opportunity of hearing to the writ-applicant.
Smt. Ashaba Rajendrasinh Vs CIT (ITAT Rajkot) Ld. CIT(A) while rejecting the claim of the assessee observed that the assessee was mandatorily required to file the return of income for the year under consideration which he has failed to do. In that view of the matter the claim of deduction under section 54 has been […]
Expenditure incurred on existing business incurred in connection with existing business, Updating existing products allowed as revenue expenditure.
In the present case, the impugned orders are non-reasoned orders inasmuch as dept have not considered the submissions of the Petitioner in the stay applications and thus, the discretion vested in department has not been exercised judiciously. Further, neither the Assessing Officer nor the PCIT have considered the three basic principles i.e. the prima facie case, balance of convenience and irreparable injury while deciding the stay application.
PCIT Vs Central Cottage Industries Corporation of India Ltd (Delhi High Court) This Court is of the view that the issue of rent of ‘A Barracks’ was within the knowledge of the Assessing officer when he had passed the original assessment order as well as the subsequent order under Section 154 of the Act. Consequently, this […]
Successful appeal by Sanjay Castings against excise duty demand. CESTAT Ahmedabad rules in favor, rejecting allegations on old molds, coal credit denial.
RKKR Holdings Pvt. Ltd. Vs ITO (ITAT Chennai) There is no dispute with regard to the fact that two Directors of the assessee company have travelled to USA, London and Singapore. Although, there is no direct nexus between the foreign travel expenses incurred by the assessee and business receipts from those destinations, but fact remains […]
Erumapalayam Primary Agricultural Co-Op Credit Society Vs ITO (ITAT Chennai) The Ld. AR pleaded that there was sufficient cause for delay in the audit since the assessee being cooperative society, it was governed by the Tamil Nadu Cooperative Societies Act, 1983 and the relevant rules 1988. For the relevant AY, the accounts of the society […]
