Sponsored
    Follow Us:

Archive: 22 September 2023

Posts in 22 September 2023

Excess stock found during survey cannot be treated as deemed income u/s. 69B

September 22, 2023 3312 Views 0 comment Print

ITAT Amritsar held that excess stock found during the survey only be treated as income under the head business income and not as deemed income under section 69B of the Income Tax Act.

Motor vehicle chassis cleared to projects funded by International Organization is exempt from excise duty

September 22, 2023 237 Views 0 comment Print

CESTAT Kolkata held that central excise duty exemption available under notification no. 108/95-CE dated 28.08.1995 as amended vide Notification No.13/2008-CE dated 01.03.2008 is allowable to appellant as motor vehicle chassis are cleared to the projects funded by International Organization.

Understanding Section 3 of Competition Act, 2002: Anti-Competitive Agreements

September 22, 2023 11202 Views 0 comment Print

Explore Section 3 of Competition Act 2002, focusing on anti-competitive agreements. Learn about legal provisions, examples, and exceptions.

Income from listed shares & securities treated as stock-in-trade taxable as business income

September 22, 2023 1146 Views 0 comment Print

ITAT Chennai held that income from listed shares and securities which had been treated as stock in trade by assessee is taxable under the head income from business and profession and not under the head capital gain.

Additional claim not allowable u/s. 43B(a) as assessee not legally obliged to pay customs duty

September 22, 2023 573 Views 0 comment Print

ITAT Ahmedabad held that as assessee was not legally obliged to pay customs duty amount, additional claim towards payment of such customs duty cannot be allowed under provisions of section 43B(a) of the Income Tax Act.

TDS not deductible on payment towards External Development Charges to HUDA

September 22, 2023 1959 Views 0 comment Print

ITAT Delhi held that the assessee has not committed any violation of provision of Chapter XVII B of the Act by making payment towards External Development Charges (EDC) to Directorate of Town and Country Planning, Haryana (Haryana Government) (DGTCP) through banking channel favoring Haryana Urban Development Authority (HUDA).

Books of accounts having number of defects & discrepancies duly rejected u/s. 145(3)

September 22, 2023 420 Views 0 comment Print

ITAT Delhi held that rejection of books of accounts u/s. 145(3) of the Income Tax Act justifiable as there was number of defects and discrepancies in the same.

Subsequent service of order copy is considered as date of communication of order

September 22, 2023 1347 Views 0 comment Print

CESTAT Ahmedabad held that the subsequent service of the order copy to the appellant is the date of communication of the order-in-original to the appellant.

Revisionary jurisdiction u/s. 263 not invocable as AO took plausible view

September 22, 2023 408 Views 0 comment Print

ITAT Kolkata held that PCIT cannot exercise the revisionary jurisdiction to set aside the assessment where the AO has conducted enquiries and taken a plausible view accepting the contentions of the assessee.

Revenue’s appeal dismissed as NCLT admitted application filed u/s 14 of IBC

September 22, 2023 303 Views 0 comment Print

ITAT Delhi held that as National Company Law Tribunal (NCLT) has admitted application filed by the assessee u/s. 14 of the Insolvency and Bankruptcy Code, 2016, the present appeal filed by the revenue deserves to be dismissed.

Sponsored
Sponsored
Search Post by Date
December 2024
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031