CESTAT held that services such as Courier Agency, Exhibition, Insurance, Internet fall under Input Service, thus qualifies for Cenvat credit
In a recent judgment, the Delhi High Court set aside the order and notice issued under Section 148A(d) and 148, respectively, in the case of Premium Estates Pvt. Ltd. vs. ACIT. The court directed the Assessing Officer to conduct a de novo assessment after the petitioner received the notice on the same day as the order.
Delhi High Court held that when two contradictory final outcomes is delivered vide two different orders, the reasoned outcome based on analysis of material prevails over outcome without an iota of reason.
ITAT Mumbai’s recent decision in Anilkumar Champalal Jain Vs. ITO, where assessee’s lack of active engagement with tax authorities led to additional costs. Explore importance of taking tax obligations seriously and potential consequences of negligence.
ITAT Bangalore held that proviso to Section 36(1)(iii) of the Income Tax Act is not applicable in the present case as sufficient internal cash accruals available during the impugned year are more that interest free funds advanced to the sister concern.
CESTAT Chennai held that differential duty demand unsustainable as invoices for purchase of raw materials and invoices for clearances of finished products indicate that the appellant is an independent manufacturer.
ITAT Cuttack held that claim of exemption of long term capital gains (LTCG), from sale of equity shares, under section 10(38) of Income Tax Act, 1961 allowable as requisite conditions satisfied.
In the landmark case of ACIT vs Kamal Kapoor, ITAT Delhi invalidates reassessment order for lack of thorough examination and due diligence
ITAT Hyderabad in case of Shri Vijay Kumar Reddy Vs ACIT held that section 271AAC penalty not applicable if tax under section 115BBE of Income Tax Act is nil
ITAT Chennai has ruled that a dissolved company is exempt from Income Tax Assessment proceedings. The judgement underscores the definitive end of a company’s existence post-dissolution, exempting it from any further legal proceedings.
