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Archive: 01 January 2023

Posts in 01 January 2023

Tax Appeal not maintainable as same was not signed by IRP

January 1, 2023 690 Views 0 comment Print

Jet Airways (India) Limited Vs DCIT (ITAT Mumbai) According to the provisions of Section 140(c) of The Income Tax Act, in case of a company which has been referred to the insolvency resolution process of the insolvency and bankruptcy code, 2013 (31 of 2016) the return be verified by the insolvency resolution professional appointed by […]

HC Stays VAT demand to 15% where appeal is pending to be adjudicated on merits

January 1, 2023 1131 Views 0 comment Print

Court directs that on the deposit of 15% of the total tax liability within a period of 15 days from today, the first appellate authority shall hear and decide the appeal in accordance with law after affording opportunity to both the parties, within a period of next one month.

No disallowance of interest when Interest-free advances been made out of interest-free funds

January 1, 2023 1002 Views 0 comment Print

Chetankumar Raojibhai Patel Vs DCIT (ITAT Ahmedabad) Sole issue in the present appeal relates to disallowance of interest expenditure under section 36(1)(iii) of the Act. Since the assessee has demonstrated the availability of sufficient own funds for the purpose of making interest free funds, the issue, we find, is squarely covered by the decision of […]

ITAT quashes section 147 proceeding as approval was granted by JCIT without verifying recorded reasons  

January 1, 2023 987 Views 0 comment Print

In present case approval has been granted by the ld. JCIT without verifying the reasons recorded by the AO for initiating the proceedings under section 147 of the Act which is contrary to the provisions of law.

AO cannot deny opportunity of hearing through video conference in Faceless Assessment

January 1, 2023 2928 Views 0 comment Print

HC held that Once there is a request for personal hearing and as the law provides for availing the opportunity of personal hearing, this unilateral decision on the part of the assessing officer without availing opportunity of hearing is contrary to Section 144B (9) of the Income-Tax Act, 1961

Section 274 Show cause notice is defective if not specify charge against assessee

January 1, 2023 1434 Views 0 comment Print

Show cause notice issued u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income, such show cause notice are defective.

Section 45(4) Applicability to a Real Estate Developer Firm

January 1, 2023 8280 Views 0 comment Print

The amendment to section 45(4) of the Income Tax Act, 1961 can cause more issues than solved. Learn about its applicability to a Real Estate Developer Firm here!

Patent Infringement in India

January 1, 2023 18156 Views 0 comment Print

Government granted absolute rights to inventors & patentee. Learn more about Patent Infringement in India.

ITAT deletes addition on account of delayed payment of employees contribution to Provident Fund

January 1, 2023 3480 Views 0 comment Print

ITAT Mumbai ruled on 07/12/2022 in the case of P R Packaging Service Vs ACIT (ITAT Mumbai) Appeal No. ITA 2376/Mum/2022 on employee’s contribution to Provident Fund. Find out the ruling!

Attachment notice issued without any assessment under section 73 or 74 for the tax demanded not valid – madras high court

January 1, 2023 1107 Views 0 comment Print

Rayan Traders vs Principal Chief Commissioner of GST (Madras High court) It is an admitted position in this case that there has been no order of assessment or any other order passed under the applicable provisions making a determination of the aforesaid amount as being ‘due’ from the petitioner. Neither has the petitioner been assessed […]

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