ITAT Chennai held that even though certificate in Form no. 10CCB was not filed along with return of income, but same was filed before the final order of assessment was made, hence the assessee was entitled to claim deduction u/s. 80IA of the Act.
Conclusion: Issue regarding claim of depreciation could not be decided until dispute regarding capitalization of expenses in assessment order was decided. Therefore, the same was restored to the file of CIT(A) with the direction to pass a fresh order in accordance with law, after providing reasonable opportunity to the assessee,
A contractual employee is defined under Section 2(b) of The Contract Labor (Regulation and Abolition) Act, 1970 which states that a contractual employee is employed by a principal employer in connection with the work of an establishment through a contractor.
CESTAT Delhi held that if tax is payable under RCM, however, service provider has duly collected the service tax and deposited the same to the Government. Demanding service tax under RCM from the service receiver will amount to double taxation and hence such demand not sustainable.
Environmental, Social, and Governance (ESG) refers to a set of non-financial performance indicators that companies use to evaluate their impact on the environment, society, and corporate governance structure.
ITAT Kolkata held that addition towards undisclosed income u/s 68 of the Income Tax Act merely based on the SMS or WhatsApp messages without any corroborative evidences is unsustainable in law.
CESTAT Delhi held that Clad with compatible non-clad aluminium foil didn’t had any commercial supplies in the domestic industry during the period of investigation and hence anti-dumping duty on the same is not leviable.
Delhi High Court held that revenue should adjudicate show cause notice expeditiously and within a reasonable time. Accordingly, continuation of proceedings for adjudication after a lapse of almost 13 years impermissible.
In a historic ruling, the Supreme Court mandates adherence to natural justice principles in bank fraud classifications, impacting borrowers’ rights.
Under old indirect tax, a 15% service tax was levied on value of considerations which is being charged by insurer from insured in form of a premium.
