ITAT Ahmedabad held that assessee is entitled to claim weighted deduction on all expenditure incurred by it, on in-house research & development facility. Accordingly, restricting claim of weighted deduction u/s 35(2AB) to the extent approved by the prescribed authority i.e. DSIR unjustified.
Allahabad High Court held that passing of detention order without recording any findings with regard to the submissions made by the assessee is unsustainable in the eye of law and liable to be quashed.
ITAT Mumbai held that deduction u/s 80G of the Income Tax Act duly available irrelevant of the fact that corpus contribution to the donee relates to the CSR activities.
ITAT Delhi held that interest on late deposit of TDS deleted as assessee was having sufficient cause for not depositing the TDS on time due to the Interim Order passed by the Hon’ble Madras High Court.
ITAT Ahmedabad held that a typographical error cannot be a reason to believe that the income of the assessee has escape assessment and hence initiation of proceedings under section 147 of the Income Tax Act is unsustainable.
ITAT Pune held that invocation of revisionary jurisdiction u/s. 263 of the Income Tax Act unjustified when AO examined the claim and took one of the plausible views and hence the assessment order cannot be termed as an “erroneous”.
Explore GST AAR Chhattisgarh’s ruling on Hitachi Energy India’s service supply, classifying it as a composite works contract at 18% tax rate.
MCA allows companies to conduct Annual General Meetings (AGMs) for 2024 through Video Conference (VC) or Other Audio Visual Means (OAVM). Details and implications.
Explore comprehensive guide to patent licensing and compulsory licensing in Saudi Arabia. Learn about legal framework, types of patents, voluntary and compulsory licensing, recent developments, and role of SAIP in promoting innovation and protecting public interests.
Explore landmark decision reshaping legal landscape as Patents Act takes precedence over Competition Act in patent-related disputes. What it means for innovators and competition.
