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Archive: 30 August 2023

Posts in 30 August 2023

ITAT Mumbai Directs Readjudication on FTS Tax Deduction for AO’s Oversight

August 30, 2023 156 Views 0 comment Print

ITAT Mumbai’s ruling in Spark44 vs. ACIT case highlights failure to consider India UK DTAA provisions for tax deduction on FTS. Analysis and conclusion included.

CESTAT Quashes Excise Duty Demand on Third Party Inspection Charges

August 30, 2023 195 Views 0 comment Print

In Transformers & Rectifiers India Ltd vs. C.C.E.-Ahmedabad-ii case, CESTAT Ahmedabad rules that third-party inspection charges are not part of assessable value. Analysis and conclusion included.

NCLAT Dismisses Kotak Mahindra’s Appeal: Scope Limited After ‘Approval of Resolution Plan

August 30, 2023 510 Views 0 comment Print

NCLAT Chennai dismisses Kotak Mahindra Bank’s appeal in the Orchid Pharma case, affirming limited authority post approval of resolution plan. Analysis and conclusion provided.

Minority Shareholder cannot challenge Director Induction if not attended Board Meetings

August 30, 2023 624 Views 0 comment Print

A deep dive into NCLAT Chennai judgment on minority shareholder rights & Board Meetings in case of Radhakrishnan Babu Nirmala Vs Precise Limbus Eye Care.

Late TDS Deposit Interest not deductible as Business Expenditure

August 30, 2023 705 Views 0 comment Print

Analysis of Shiva Pharmachem Ltd vs. DCIT case where ITAT Ahmedabad rules no disallowance under section 14A of Income Tax Act without any exempt income. Full text of ITAT order included.

No Extended Limitation When Details Transparently Shared in ST-3 Returns

August 30, 2023 363 Views 0 comment Print

Detailed examination of the CESTAT Ahmedabad ruling in the case of Arya Logistics versus C.C.E. & S.T.-Rajkot on service tax liability & limitation period.

Mere technicalities shouldn’t thwart right to a fair hearing: CESTAT Allahabad

August 30, 2023 231 Views 0 comment Print

CESTAT Allahabad revisits delay in appeal by E L Sewedy Electrometer due to the Director’s absence abroad. Focus on re-adjudication and merits.

Procedural error leading to short payment shouldn’t result in hefty penalty for director: CESTAT

August 30, 2023 264 Views 0 comment Print

CESTAT Ahmedabad quashes penalty on Azaz Lokhandwala, Director of Schurter Electronics. No suppression of facts found as goods cleared with the right invoice.

Free Supply Items Excluded from Assessable Value in Service Tax: CESTAT

August 30, 2023 219 Views 0 comment Print

CESTAT Chandigarh rules in Ahluwalia Contracts case: Free supply items’ value isn’t included in service tax calculation. Read a detailed breakdown.

Return return accepted by Sales Tax Dept binds income-tax authorities

August 30, 2023 288 Views 0 comment Print

ITAT Chennai ruling in Aruljothi Exports vs. ACIT case establishes that Income Tax Dept cannot scrutinize sales tax returns accepted by Commercial Tax Dept. Analysis and conclusion included.

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