ITAT Chandigarh held that denial of cross-examination, based on which addition on account of unrecorded sales was confirmed, demolishes the very foundation of making addition and hence such addition is unsustainable in law.
CESTAT Kolkata has held that Custom Broker License suspended under Regulation 16(1) of Customs Brokers Licensing Regulations, 2018 for around a month is directed to be lifted as necessary inquiry should have completed during the said suspension time.
Gujarat High Court held that amount invested in the pension policy is not claimed as relief under section 80CCC(1) and hence policy surrender value thereon is not taxabie under section 80CCC(2) of the Income Tax Act.
Inclusion of Drone Manufacturing, Portable Petrol Pump/ Portable Service Stations, Biomass pellet manufacturing, etc. under the NIC codes
Appellants in the present appeal has stated that the Company has made all reasonable efforts to appoint Whole Time Company Secretary, whereas no one has shown interest as the Company incurred losses and delisted from Stock Exchange.
Income Tax Department initiated Search & Seizure actions on 20.10.2022 and 02.11.2022 on certain individuals who had executed Joint Development Agreements (JDAs) with various real-estate developers. The search action covered more than 50 premises spread across Bengaluru, Mumbai and Goa. During the course of the search operations, a large number of incriminating evidences, in the […]
Polyflex (India) Pvt. Ltd. Vs CIT (Supreme Court) SC ruling denying 80IB claim to manufacturer of intermediary product for the end product falling under entry 25 of 11th schedule of Income Tax Act, 1961. Sub- Whether deduction u/s 80IB can be claimed by a manufacturer of an item which falls under entry 25 of the […]
Understand the concept of capital gains tax on agricultural land as per the Income Tax Act. Learn about the definitions and exemptions related to capital assets.
Enhance Indias international manufacturing competitiveness with the Export Promotion Capital Goods Scheme. Learn how this scheme facilitates the import of capital goods and promotes export production quality.
