ITAT Ahmedabad case between Standard Radiators Pvt Ltd and ACIT, involving an inaccurate income penalty dispute related to interest expense misclassification
ITAT Hyderabad order, wherein Mohammed Rahimuddin successfully appeals the penalty u/s 271A due to estimation-based income addition.
CESTAT’s decision clarifies that since the rent received by individual co-owners is below the specified threshold, there is no basis for imposing service tax on these amounts.
₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth The gross Good & Services Tax (GST) revenue collected in the month of May, 2023 is ₹1,57,090 crore of which CGST is ₹28,411 crore, SGST is ₹35,828 crore, IGST is ₹81,363 crore (including ₹41,772 crore collected on import of goods) and cess […]
In Ram Kishan Vs ITO case, ITAT Delhi ruled that no addition u/s 69A of Income Tax Act when income source was appropriately explained during assessment.
NFT stands for Non-Fungible Token, has gained popularity as a concept in the world of art. They are special digital tokens that represent ownership or proof of authenticity.
In this article, we will guide you through the step-by-step procedure of paying your income tax online at Time of Filing of ITR For Individuals using the official Income Tax website.
Read about dismissal of an appeal by ITAT Mumbai in case of BLPL Singapore Pvt Ltd Vs DCIT. Sssessee’s appeal against penalty order under Section 270A for non-disclosure of interest income was dismissed.
CESTAT Kolkata held that as per substituted provisions of Rule 14 of the CENVAT Credit Rules, interest is not leviable where wrongly availed credit is only taken but not utilized.
ITAT Kolkata held that depreciation is allowable on asset of the assessee if acquisition is claimed as application of income. Notably, after change in law in section 11(6), assessee has not claimed acquisition of property towards application of income while computing the total taxable income.
