ITAT Ahmedabad held that addition on the basis of statement of director without independent finding given by the Assessing Officer is unsustainable in law.
CESTAT Mumbai held that exemption from basic excise duty vis-à-vis discharge of automobile cess effaces coverage of rule 6 of CENVAT Credit Rules, 2004 (CCR, 2004).
Bombay High Court held that assessment order was passed after post considering the submission from the assessee regarding deduction under section 80P. Hence, reopening of assessment in absence of any new tangible material is unsustainable in law.
CESTAT Kolkata held that imposition of penalty under section 112(a) & (b) of the Customs Act, 1962 on the basis of retracted statement and in absence of any independent corroborative evidence unsustainable in law.
ITAT Mumbai held that that the interest paid by the Indian branch-PE to the head office-GE is not taxable in India in terms of India-France DTAA.
ITAT Pune held that as assessee does not satisfy the condition of advancement of any other object of general public utility, its eligibility for benefit of exemption under section 11 of the Income Tax Act is doubtful.
ITAT Kolkata held that condonation of delay of 927 days in filing of the appeal not granted as explanation available in the affidavit is totally vague and not specific. Further, assessee neither complied with a single notice nor submitted any details.
A bank account is necessary to carry out financial transactions. After the digital revolution in the banking sector, holding a bank account in the bank has become even more crucial. In addition, the bank account opening process is much easier with several online and offline active channels.
Finance Bill 2023 GST updates: Enhanced composition scheme eligibility, ITC amendments, and stricter penalties for ECO violations. Key changes aim for clarity and compliance ease in GST framework.
Every Year, CBDT notifies new ITR-1 to ITR-7which are consequential to the amendments made in the Finance Act and Other Laws, and taxpayer should know about the changes in ITR forms as compared to previous year forms.
