In present facts of the case, the Hon’ble Supreme Court dismissed the appeal and upheld the Judgment of High Court, wherein adequate compensation was provided on Land Acquisition while considering the relevant factors such as determining the deduction for development charges, the nature of land, area under acquisition, whether the land is developed or not, if developed to what extent, and the purpose of acquisition.
CESTAT Ahmedabad held that since the issue involved is with regard to taxability of Ocean Freight and reimbursement of expense which is highly interpretational in nature. Further, in absence of suppression of facts or malafied intention, extended period of limitation is not invocable.
ITAT Delhi held that disallowance of staff welfare expenditure on the adhoc basis unsustainable as AO failed to establish as to who the expenses are not incurred for business purpose.
ITAT Delhi held addition u/s 68 of the Income Tax Act unsustained as assessee duly satisfied the initial onus i.e. identity, creditworthiness and genuineness of the transaction established.
Analysis of Jharkhand HC’s stance on TDS deposits, penalties, and implications on criminal proceedings when deposits are made with interest.
CESTAT Ahmedabad held that it is settled legal position that sub-contractor is liable to pay service tax even though main contractor has paid service tax on total value. Accordingly, service tax demand sustained.
ITAT Chennai held that the incidence of tax for joint development agreement (JDA) is different and incidence of tax for subsequent sale of flats is different.
Explore the key details and implications of ITAT Ahmedabad’s ruling on the Shanti Multilink Pvt. Ltd. Vs PCIT case concerning the validity of an assessment order under section 263.
Analysis of Pawan Aggarwal’s appeal against CIT(A) Ludhiana order regarding disallowance of expenses and building improvement costs. Outcome by ITAT Chandigarh.
Analysis of Bombay HC ruling in Naroli Resorts vs ACIT on reopening tax assessment after four years. Did the assessee disclose all material facts?
