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Archive: 15 July 2023

Posts in 15 July 2023

Disallowance of Expenses: Consideration of Business Commencement – Case Analysis

July 15, 2023 1494 Views 0 comment Print

Explore the recent verdict by ITAT Delhi in the case of ACIT Vs Capricorn Identity Services P Ltd, where it supported the deletion of disallowance and acknowledged the revenue expenditure of business activities.

Assessee suffering from heart disease – ITAT directs CIT(A) to condone delay

July 15, 2023 420 Views 0 comment Print

Learn about the recent order of the ITAT Chennai in the V. Babu vs ACIT case, where the CIT(A) appeal rejection due to delayed filing by the assessee is set for re-adjudication.

HC quashed show cause notice due to its issuance by improper officer

July 15, 2023 2091 Views 0 comment Print

Explore the recent Telangana High Court decision in the case of Nektar Therapeutics India Pvt Ltd vs Union of India, where the court quashed a show cause notice due to its issuance by an improper officer.

ITAT Directs Re-adjudication on AO’s Oversight of Section 55A

July 15, 2023 393 Views 0 comment Print

Detailed review of the Satya Dharma Hotels Pvt Ltd vs ITO case, where the ITAT Delhi has directed a re-adjudication due to the AO not considering Section 55A of the Income Tax Act.

Business Promotion and Tour & Travels Expenses by a Firm’s Partner are Allowable

July 15, 2023 2130 Views 0 comment Print

Insightful review of the ITAT Delhi ruling on the case Bharat Anand vs ACIT, highlighting the judgement on allowing business promotion and tour & travel expenses of a professional partner in a firm.

TDS Credit on House Property Sale allowed to HUF despite deduction in Individual Account

July 15, 2023 1062 Views 0 comment Print

ITAT Mumbai rules in favour of Anant Singhania HUF, allowing TDS credit for sale of housing property. The landmark decision provides clarity on tax deductions and credits.

Duty exemption on gasket cannot be denied merely due to initial mismatch

July 15, 2023 249 Views 0 comment Print

A detailed look at the case of IGP Engineers Pvt Ltd Vs Commissioner of GST & Central Excise, where CESTAT ruled that duty exemption could not be denied due to an initial mismatch.

ITAT Quashes Reassessment initiated without Tangible Materials

July 15, 2023 546 Views 0 comment Print

Explore the detailed analysis of the judgment passed by ITAT Delhi in the case of Boston Scientific International Vs ACIT, where the tribunal quashed reassessment proceedings due to lack of tangible material.

Calcutta HC Directs Reconsideration of Refund Rejection Ignoring CBIC Notification

July 15, 2023 336 Views 0 comment Print

Dive into the Calcutta High Court’s verdict on the case of Newby Teas Overseas Private Limited Vs Joint Commissioner (Appeal), leading to a remand for readjudication of a customs refund claim.

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