"11 June 2023" Archive

FAQs on Director Identification Number (DIN) Application: All You Need to Know

Applying for a Director Identification Number (DIN) is a crucial step for individuals aspiring to become directors in Indian companies. This article addresses common questions related to DIN application, covering topics such as the definition of DIN, the authority responsible for allotment, application procedure, signatories, fee payment,...

Posted Under: Company Law |

Penalty u/s 271(1)(c) without opportunity to assist to Assessee – ITAT directs NFAC for fresh consideration

Balwant Baburao Vitekar (Late) Vs ITO (ITAT Pune)

Balwant Baburao Vitekar (Late) vs ITO (ITAT Pune) where the imposition of penalty under section 271(1)(c) was challenged. The appeal was allowed on the grounds that the assessee was not given the opportunity to assist in the penalty proceedings....

ITAT allows Weighted Deduction u/s 35(2AB) to Americhem Polymers

Americhem Polymers India Pvt Ltd Vs ACIT (ITAT Pune)

Explore ITAT Pune's decision in Americhem Polymers vs ACIT. Key issue: Weighted deduction u/s 35(2AB) disallowance for non-submission of DSIR report....

CESTAT Grants Service Tax Refund on Immovable Property Renting Services

Amneal Life Sciences Pvt Ltd Vs C.S.T.-Service Tax (CESTAT Ahmedabad)

In the case of Amneal Life Sciences Pvt Ltd Vs C.S.T. Service Tax, the CESTAT Ahmedabad granted a service tax refund for the renting of immovable property services. The appellant, a unit in the Special Economic Zone (SEZ), sought a refund on the service tax paid for renting their manufacturing premises. The department rejected the refund ...

CESTAT allows Interest on Auction Sale Proceeds from Date of Receipt of Amount by Customs Department till Date of Disbursal

Oriental Trimex Limited Vs Commissioner of Customs (Import) (CESTAT Delhi)

In the case of Oriental Trimex Limited Vs Commissioner of Customs (Import), CESTAT Delhi allowed interest on auction sale proceeds from the date of receipt of the amount by the Customs Department until the date of disbursal. The CESTAT held that the Revenue cannot adjust the redemption fine against the sale proceeds since the goods were n...

Rectification in Revised Return Allowed Despite Late Filing of Original Return

Navneet Dutta Vs ACIT (ITAT Delhi)

In the case of Navneet Dutta Vs ACIT, ITAT Delhi allowed rectification in the revised return, even though the original return was filed late. ITAT remitted the issue to the Assessing Officer to consider the revised return and make an order in accordance with the law. ...

Ex-parte Cash Deposit Addition under Section 69A Set Aside, Readjudication directed

Srimathi Pichara Vs ITO (ITAT Hyderabad)

In the case of Srimathi Pichara Vs ITO, ITAT Hyderabad set aside ex-parte addition of cash deposits made during demonetization period under Section 69A of Income Tax Act. ITAT directed Assessing Officer to readjudicate the matter after providing an opportunity to assessee to produce relevant documents for fact verification...

Penalty under Section 271(1)(c) Invalidated if Matter Restored for Rectification Order

  Chaturbhoj Vs ITO (ITAT Delhi)

ITAT Delhi held that if a matter is restored to AO for passing a rectification order, the penalty imposed under Section 271(1)(c) of Income Tax Act does not survive. The appeal was filed by the assessee against the penalty order. ...

Non-resident individuals not required to disclose assets held outside India in ITR

Amrita Jhaveri Vs DCIT (ITAT Mumbai)

In the case of Amrita Jhaveri Vs DCIT, ITAT Mumbai ruled that non-resident individuals are not required to disclose assets held outside India in their Indian income tax returns. The ITAT quashed the re-assessment order based on vague and general reasons, stating that income chargeable to tax had escaped assessment....

Section 153C Addition not Sustainable without Incriminating Material: ITAT Delhi

ITO Vs Prajyoti Impex Pvt Ltd (ITAT Delhi)

ITAT Delhi has ruled that additions made under Section 153C of Income Tax Act cannot be sustained without any incriminating material found during a search and seizure operation. ...

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March 2024