Palco Tex Fab Limited Vs ACIT (ITAT Delhi) -
ITAT Delhi held that there is no transfer of assets in case of the shifting of plant & machinery from fixed assets to current assets. Accordingly, there is no question of determination of capital gain....
Anjanee Vijetha Kasturi Vs ACIT (ITAT Hyderabad) -
ITAT Hyderabad held that once additional income offered during survey was simply accepted and assessment order was passed u/s 143(3) of the Income Tax Act without invoking provisions of section 115BBE. Then, provisions of section 115BBE cannot be invoked via rectification as per section 154....
Arvind Kumar Bahl Vs State of Maharashtra (Bombay High Court) -
Bombay High Court held that impartial investigation of Economic Offence Wing (EOW) betrays the faith of victims. Accordingly, responsible persons for the wrongdoings should not be allowed to escape the process of law....
Vishivkarma Bikes Vs DCIT (ITAT Chandigarh) -
ITAT Chandigarh held that late deposit of employees’ share of PF/ ESI contribution to the relevant funds beyond prescribed due date as per respective Act is liable to be disallowed....
Article explains different GST slabs in India, items categorized under each GST slab, GST percentage rates, types of GST, and GST calculation...
Ranjitbhai Dhayabhai Panchal Vs ITO (ITAT Surat) -
ITAT Surat held that gift received from HUF cannot be added back to the total income of the assessee being Karta (Manager) of such HUF....
P.K. Minerals Private Ltd Vs State of Odisha (Orissa High Court) -
Orissa High Court held that it is made clear that as conditions of the tender is not satisfied, the decision making process in selecting the party, being arbitrary, unreasonable and contrary to the provision of law, cannot be sustained in the eye of law....
Finesse International Design Pvt. Limited Vs DCIT (ITAT Delhi) -
ITAT Delhi held that business promotion expenditure incurred for improving the visibility of the brand and sale of the products is routine expenses incurred during the course of the business. Accordingly, the same is allowable expenditure....
The concept of Input Service Distributor (ISD) under GST has been carried forward from the erstwhile Service tax regime. ISD has been defined under Section 2(61) of the CGST Act, 2017. It is an office of supplier which has received input services, and the said input services are attributable to various branches of a company, […]...
ICAI requests Members to remit Annual Membership/Certificate of Practice fees for year 2023-2024, which became due for payment on 01.04.2023...