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Archive: July, 2023

Posts in July, 2023

Service Tax reimbursement not includible in gross turnover to calculate taxable income under Section 44BB

July 17, 2023 768 Views 0 comment Print

Explore the crucial judgment of ITAT Delhi in the case of DCIT Vs Western Geco International Ltd. A deep dive into issues of taxation under Sections 44DA, 44B, and 44BB of the Income Tax Act.

Mere Board Resolution doesn’t crystallize a liability for Expenditure on discontinuance of Clinics

July 17, 2023 594 Views 0 comment Print

ITAT Mumbai concurred with AO and CIT(A), highlighting that a Board Resolution doesn’t create a liability until implemented. The tribunal emphasized that costs for employee termination and lease termination arise when notice of termination is served.

ITAT Imposes Cost for Non-Compliance of Notices (Disregard of Quasi-Judicial Authority)

July 17, 2023 1053 Views 0 comment Print

Unraveling the case of Gopal Singh vs ITO, in which ITAT calls out the disregard of quasi-judicial authority. Understand the key facts, analysis, and implications of this significant ITAT ruling.

ITAT Allows Deduction for Business Service Charges to Associate Concern for HR Services

July 17, 2023 843 Views 0 comment Print

Analyzing the key implications of ITAT’s ruling in the case of ACIT Vs Jones Lang Lasalle Building Operation Pvt Ltd, highlighting the acceptability of business service charges for HR-related services provided by associate concerns.

ITAT Allows Application for Approval u/s. 80G(5) Despite Wrong Form Selection

July 17, 2023 2823 Views 1 comment Print

ITAT Hyderabad in case of Telangana State Chapter Indian Radiological & Imaging Association vs ITO held that application for approval u/s. 80G(5) cannot be rejected solely for selecting wrong form.

No Penalty for Excessive Income Tax Refund Claim due to Consultant’s Fraud

July 17, 2023 2973 Views 0 comment Print

Explore our in-depth analysis of the recent ITAT Bangalore ruling on Veereshayya Angadi Vs ITO case, focusing on the issue of penalty for excessive refund claims influenced by a tax consultant.

SSI Exemption Cannot Be Denied for Using Family Surname in Separate Entity

July 17, 2023 522 Views 0 comment Print

The CESTAT Chandigarh has ruled in favor of Mankoo Machine Tools in a pivotal case on SSI exemptions. This decision clarifies that family surnames can be used across separate entities without forfeiting SSI exemptions.

Post Facto Certificate Production for Exemption under Notification No. 108/95-CE

July 17, 2023 1107 Views 0 comment Print

CESTAT held that post facto production of certificate entitled appellant to benefits of Exemption Notification No.108/95-CE. CESTAT Cited Supreme Court decision in case of Tullow India Operations Ltd.

ITAT Mumbai Deletes Addition for Deemed Interest on Director’s Loan to Company

July 17, 2023 1287 Views 0 comment Print

Read the full text of the ITAT Mumbai order in the case of Nikhil Suryakant Shah vs ITO. The ITAT has deleted the addition for deemed interest on a loan given by the director to the company. Get the analysis and conclusion here.

Adda Fee cannot be equated to ‘Business Support Service’

July 17, 2023 1287 Views 0 comment Print

The recent ruling by CESTAT on Chandigarh Transport Corporation Vs Commissioner of Central Excise has declared that the collection of Adda fee by transport corporations as part of statutory functions does not amount to “Business Auxiliary Service” (BAS).

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