Follow Us :

Archive: 12 July 2023

Posts in 12 July 2023

Addition towards alleged bogus purchases unsustainable as cross examination not allowed

July 12, 2023 912 Views 0 comment Print

ITAT Delhi held that addition towards alleged bogus purchases unsustainable as cross examination of person based on which AO was drawing inferences was not allowed and payments were made through banking transactions.

Sub-contractor liable to pay service tax despite tax payment by main contractor

July 12, 2023 1218 Views 0 comment Print

CESTAT Chandigarh held that sub-contractor is liable to pay the Service Tax even if the main contractor has discharged the liability. Accordingly, service tax payable on ‘Commercial or Industrial Construction Service’.

Extended period not invocable if department was fully aware of import

July 12, 2023 417 Views 0 comment Print

CESTAT Chennai held that extended period of limitation not invocable as department was duly aware about what was being imported and the purpose thereof.

Most appropriate method for determining Arm’s Length Price is internal CUP

July 12, 2023 1404 Views 0 comment Print

Held that internal CUP [internal Comparable Uncontrolled Price Method] is the most appropriate method for undertaking the determination of Arm’s Length Price.

Invocation of MSMED provisions in respect of Income Tax special audit remuneration is untenable

July 12, 2023 510 Views 0 comment Print

Delhi High Court held that in respect of Special Audit remuneration under section 142(2D) of the Income Tax Act invocation of provisions of MSMED Act not tenable and completely misplaced. Accordingly, the Income Tax Act would thus prevail over the provisions of the MSMED Act.

Goods ordered to be provisionally released after complying with requirement are not liable for confiscation

July 12, 2023 519 Views 0 comment Print

CESTAT Chennai held that confiscation of goods cannot be sustained as imported goods are provisionally released after complying with the necessary requirement of Prevention of Food Adulteration Rules, 1955.

Addition u/s 68 unsustainable as onus with respect to receipt of share application money discharged

July 12, 2023 465 Views 0 comment Print

ITAT Ahmedabad held that the assessee has discharged the onus cast under section 68 of the Act with respect to receipt of share application money. Accordingly, addition under section 68 of the Income Tax Act not sustained.

Imposition of penalty unsustainable as demand sustained due to mis-interpretation of service

July 12, 2023 282 Views 0 comment Print

CESTAT Bangalore held that imposition of penalty unsustainable as service tax is demanded due to mis-interpretation of service being classified as joint venture agreement and not a franchisee service.

Taxability of Income from Off-Shore Investments: Income Tax Circular

July 12, 2023 1458 Views 0 comment Print

Read the clarifications regarding the taxability of income earned by non-resident investors from off-shore investments in investment funds routed through an Alternative Investment Fund (AIF). Learn about the amendments and regulations applicable to Category I or Category II AIFs in India.

Reclassification of Authorized Share Capital of The Company

July 12, 2023 13140 Views 0 comment Print

Authorized share capital of the company is the maximum permissible limit set by the shareholders of the Company that allows the Company/Board to issue shares of the Company.

Search Post by Date
July 2023
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31