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Archive: July, 2023

Posts in July, 2023

ITAT directs re-adjudication in PF/ESI deduction Claim Case of Tripoto

July 21, 2023 1275 Views 0 comment Print

Examination of the case between Tripoto Travel Private Limited and the ACIT, where ITAT directed re-adjudication on the income tax deduction claim for late deposit of employees’ contributions to PF/ESI.

CIN in Relation to a Company: Understanding its Significance & How to Find It?

July 21, 2023 4731 Views 0 comment Print

CIN in relation to a Company stands for Company Identification Number. CIN is a 21-digit alphanumeric code assigned to a Company by Registrar Of Companies (ROC) to companies registered in India under Companies Act, 2013.

Taxation and Treatment of Stock Market Investments

July 21, 2023 5194 Views 1 comment Print

“Learn about stock market transactions in India, types of trades, taxation rules, and turnover calculations. Understand tax audit requirements for investors and traders

ITAT deletes Disallowance for Guarantee Commission to Associate Enterprise

July 21, 2023 858 Views 0 comment Print

In Lease Plan India P Ltd vs. ITO, the ITAT Delhi deletes disallowance of guarantee commission deduction claimed on payment to Associate Enterprise. Understand the impact of this case on associated tax implications.

CESTAT allows Refund Claim Appeal for Custom Duty amid Covid-19 Delays

July 21, 2023 1002 Views 0 comment Print

Explore the CESTAT Hyderabad ruling favoring Jindal Stainless Limited in a pivotal case against the Commissioner of Customs. The case discusses the rejection of a refund claim due to Covid-19-related filing delays.

ITAT Chennai: Payments to Fertilizer Dealers Classified as Rebates, Exempt from TDS

July 21, 2023 807 Views 0 comment Print

Greenstar Fertilizers Limited wins case against ACIT in ITAT Chennai, clarifying that payments made to dealers for sales of fertilizers are rebates, not subject to TDS.

No Maximum Penalty for Violating CBLR Provisions without License Revocation

July 21, 2023 870 Views 0 comment Print

Review the case between Lotus Integrated Logistics and the Commissioner of Customs where CBLR violations didn’t result in license revocation or max penalty.

ITAT Rules: Income Determination Based on Surmise and Conjecture is Illegal

July 21, 2023 2082 Views 0 comment Print

Delve into the latest Income Tax Appellate Tribunal (ITAT) Delhi’s judgement on the case of DCIT Vs Vinod Kumar Bajaj, discussing the illegality of income determination based on conjecture and presumption.

ITAT Quashes Reassessment Order Due to Non-Issue of Notice

July 21, 2023 1191 Views 0 comment Print

Discover the case of Sohanbir Sing Vs Assessing Officer, where the ITAT Delhi ruled that failure to issue notice for reassessment cannot be remedied under Section 292B of the Income Tax Act.

No Ad-hoc Disallowance for Railway Site Expenses without Rational Basis

July 20, 2023 618 Views 0 comment Print

In the case of Durga Signal Infra Pvt. Ltd. vs ACIT, ITAT Kolkata rules that there should be no disallowance made under Section 37(1) of the Income Tax Act for site expenses incurred for railway business. Learn about the case, its analysis, and conclusion.

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