ITAT Ahmedabad held that deprival of deduction u/s 10AA of the Income Tax Act merely on the reasoning that deduction was claimed in the revised return or audit report in Form 56F was filed during the assessment proceedings is unjustified.
CESTAT Kolkata held that denial of cross examination of witnesses and non-supply of relevant records is clear violation of principle of natural justice and accordingly impugned order is unsustainable.
The existing jurisprudence on the issue at hand can be analyzed from two perspectives (a). dues relating to PF and Gratuity being statutory dues of the first charge and (b). the effect of conjoint reading of Section 36 and Section 53 of IBC.
Kerala High Court held that deduction under section 80P of the Income Tax Act is allowable only if the same is claimed via a valid return.
Explore the challenges and legal framework surrounding contract labour in India. Understand the Contract Labour (Regulation and Abolition) Act, 1970, and its implications for both workers and employers. Learn about the challenges faced by contract workers, including exploitation, job insecurity, and the lack of benefits.
ITAT Delhi held that imposition of penalty under section 271(1)(c) of the Income Tax Act on a highly debatable issue is unsustainable in law.
CFSs & Port Terminals are directed to ensure compliance as enumerated in Para 4.4 of Public Notice No. 77/2017 dated 21.06.2017 & move the containers covered under DPD-CFS from the Port to CFS within 48 hours (Free Time)
ITAT Delhi held that depreciation on goodwill cannot be rejected merely because performance didn’t match projections. Notably, valuation of goodwill on discounted cash flow method was duly accepted by AO.
Section 2 (kkk) of the Industrial Disputes Act, 1947 defines the term ‘Layoff’’ as the inability, failure, or refusal of the employer to provide employment to a workman whose name is mentioned in the muster roll of his industrial establishment and who is not retrenched due to the lack of power, coal, raw materials, accumulation of stocks, breakdown of machinery or natural calamity for any other relevant reason.
PCIT Vs Narayan Kumar Khaitan (Orissa High Court) Case Law on Service of notice required through Superintendent of Jail if assessee is in judicial custody. A search and seizure operation under section 132 was conducted on SM and group wherein certain incriminating documents were found. Subsequently, assessment in case of assessee was completed under section […]
