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Archive: 09 September 2023

Posts in 09 September 2023

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4686 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 4122 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Demand of 10%/5% on exempted goods unsustainable as proportionate reversal already made

September 9, 2023 813 Views 0 comment Print

CESTAT Ahmedabad held that reversal of proportionate credit towards exempted goods along with interest already made, the demand of 10% /6%/5% of the value of exempted goods shall not be sustainable

No addition for alleged unaccounted sale proceeds based on mere loose papers or retracted statements

September 9, 2023 861 Views 0 comment Print

In Vinodchandra Dalsukhram Gokhlani Vs ITO, ITAT Ahmedabad ruled on addition for unaccounted sale proceeds based on loose papers and retracted statements

Section 153A: No Addition Without Incriminating Evidence in Unabated Assessment

September 9, 2023 1320 Views 0 comment Print

ITAT Chennai in Estate of Late Smt. Jayanthi Krishnamurthy Vs ACIT held that no addition could be made under section 153A in absence of incriminating evidence resulting from a search, especially if assessment is unabated.

Breach of Contract not established if not backed by proper evidences during Communication between parties

September 9, 2023 603 Views 0 comment Print

he Honble High Court dismissed the Petition as the Petitioner was willing to continue with the Agreement and was willing to pay the charges for the same as agreed.

CESTAT allows Cenvat Credit on Capital Goods used for providing Output Service

September 9, 2023 486 Views 0 comment Print

A detailed analysis of the landmark CESTAT Kolkata ruling in Emta Coal Limited vs Commissioner of Central Excise & Service Tax. Understand the legal implications for Cenvat Credit on Capital Goods in the context of providing output services.

Change of opinion impermissible under the grab of reopening u/s 147

September 9, 2023 1410 Views 0 comment Print

ITAT Mumbai held that change of opinion is not permissible under the garb of reopening of assessment under section 147/148 of the Income Tax Act.

Payment towards interconnectivity utility charges from Indian customers not taxable as Royalty

September 9, 2023 891 Views 0 comment Print

ITAT Bangalore held that payments received towards interconnectivity utility charges from Indian customers / end users cannot be considered as Royalty to be brought to tax in India under section 9(1)(vi) of the Income Tax Act and also as per DTAA.

Addition for cash deposit: Generous Cash Gift to Grandson by maternal grandfather – ITAT restores matter to CIT(A)

September 9, 2023 19419 Views 0 comment Print

An in-depth analysis of the Pitchi Reddy Garlapati Vs ITO (ITAT Hyderabad) case, focusing on the addition for a generous cash gift to a grandson by his maternal grandfather.

Incidence of Duty Borne by Appellant, Unjust to Credit Refund to Consumer Welfare Fund: CESTAT

September 9, 2023 279 Views 0 comment Print

Analysis of the CESTAT Chennai order in Axon Drugs (P) Ltd Vs Commissioner of GST & Central Excise case. Discover why directing excise refund to Consumer Welfare Fund was deemed unjust.

Unsustainable Addition for Cash Sales when No Stock Discrepancy Detected

September 9, 2023 876 Views 0 comment Print

In the case of Metro Filling Station vs. ITO (ITAT Delhi), an addition for unexplained cash deposits was challenged. The tribunal ruled in favor of the assessee.

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