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Archive: July, 2023

Posts in July, 2023

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

July 15, 2023 1518 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 549 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 801 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 645 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.

ITAT dismisses Revenue Appeal Due to Tax Effect Below Prescribed Monetary Limit

July 14, 2023 558 Views 0 comment Print

Discussing the recent ITAT Guwahati order that dismissed a revenue appeal, citing that the tax effect involved was less than the CBDT-prescribed monetary limit. Exploring the case of ITO vs Hotchand Kalachand Loungani.

CESTAT Rules Against demand on Exempted Service after Cenvat Credit Repayment

July 14, 2023 663 Views 0 comment Print

An exploration of the CESTAT Ahmedabad’s dismissal of the Revenue’s appeal in the case of Commissioner of Central Excise & ST Vs Galaxy Diesel, focusing on the demand for exempted service despite Cenvat Credit repayment.

Reassessment notice quashed due to lack of clarity about its recipient

July 14, 2023 945 Views 0 comment Print

Detailed analysis of Delhi High Court’s decision in Home Credit India B.V. Vs ACIT, focusing on the quashing of a reassessment notice due to lack of clarity in its recipient.

Allegations not included in Section 148A(b) notice – HC sets aside order & notices

July 14, 2023 978 Views 0 comment Print

Examination of the Delhi High Court’s decision in the Dhiru Realestates Private Limited Vs ITO case, where an income tax notice was invalidated due to allegations not included in the original notice.

Exclusion of COVID-19 pandemic period from appeal filing limitation

July 14, 2023 4554 Views 0 comment Print

An examination of the ITAT Delhi’s decision in the SVP Industries Ltd. Vs DCIT case, ruling that the COVID-19 pandemic period should not be included in the limitation period for appeal filing.

No Penalty for Estimated Profit-Based Addition

July 14, 2023 1449 Views 0 comment Print

Detailed analysis of the ITAT Delhi judgement in Kamlesh Gupta Vs DCIT case where the tribunal ruled that addition made on estimated profit does not constitute concealment, hence, no penalty.

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