ITAT Mumbai held that Nostro Account Maintenance Charges are in the nature of bank charges levied on transaction and the same are not subject to tax deduction at source u/s. 195 of the Act. Accordingly, disallowance of the same by invoking provisions of Section 40(a)(i) of the Act unjustified.
ITAT Delhi passed a significant judgment in ITO Vs Essjay Enterprises, focusing on classification of income derived from sale of agricultural land and shares.
CESTAT Ahmedabad in M D Engineers Vs C.C.E. & S.T. held that Service Tax penalty under Section 76 and 78 cannot be imposed simultaneously.
ITAT Mumbai ruling in DCIT Vs Sai Sugam Enterprises. declares penalty notices under section 274 as invalid if not specifying charge against assessee.
In present facts of the case, the Hon’ble High Court observed that the investigation report cannot be obtained under Section 212(13) of the Companies Act, 2013 if the Person seeking report is not concerned with the case in any manner or in other words, do not comply the mandate of Section 212(1)(a) to (d) of the Companies Act, 2013.
Bombay High Court held that filing of refund application u/s. 27 of the Customs Act after more than two years of date on which excess duty payment was done is clearly beyond the period of one year as contemplated by the Customs Act and hence is barred by limitation.
CESTAT Bangalore upholds customs redemption fine & penalty for importing second-hand ETL Liners, which are restricted under Foreign Trade Policy.
ITAT Delhi held that as there is no copyright on live events, the license fees for live and non-live transmission right cannot be taxed as royaty in terms of section 9(1)(vi) of the Income Tax Act. Accordingly, addition deleted.
ITAT questioned whether notice issued under section 263 of the Act was properly served to assessee, as this is fundamental for upholding principles of natural justice.
Impact of electronic credit reversal & re-claimed statements under GST law. Learn about features, interpretation, and implications in this article.
