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Archive: 22 October 2023

Posts in 22 October 2023

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 3960 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 3561 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!

No Penalty/Redemption Fine When Goods Allowed To Be Re-Exported

October 22, 2023 777 Views 0 comment Print

CESTAT Mumbai rules redemption fine and customs duty not required when goods are allowed to be re-exported. Detailed analysis of Goyal Trading vs. Commissioner of Customs case.

CESTAT Mumbai quashes Service Tax Demand on cost of advertisements for clients

October 22, 2023 372 Views 0 comment Print

CESTAT Mumbai has quashed service tax demands on the cost of advertisements in newspapers and magazines by Network Advertising Pvt. Ltd. Detailed analysis of the case.

Calcutta HC Orders Statutory Appeal for GST Dispute

October 22, 2023 435 Views 0 comment Print

The Calcutta High Court orders a statutory appeal in the case of Biswajit Biswas vs. Assistant Commissioner of Revenue BOI and others regarding a GST dispute.

Section 148A(b) mandates notice of seven clear days: HC set-aside Assessment & Notice

October 22, 2023 927 Views 0 comment Print

The Kerala High Court quashes Income Tax Section 148 notice and related orders due to denial of opportunity to file objections, citing mandatory requirements.

Partial Expense Acceptance Indicates Direct Connection to Assessee’s Business Activities: ITAT

October 22, 2023 246 Views 0 comment Print

In a significant victory for the assessee, ITAT Ahmedabad rules in favor, deleting disallowance of vehicle, telephone, and salary expenses. Full analysis here.

ITAT deletes Penalty for Bonafide Mistake in Tax Return

October 22, 2023 816 Views 0 comment Print

In a significant decision, ITAT Ahmedabad rules that a bonafide mistake in computing income tax does not constitute furnishing inaccurate particulars or concealment of income. Full analysis here.

Section 153A Assessment: Addition in Unabated Year Requires Incriminating Material Only

October 22, 2023 498 Views 0 comment Print

Read the ITAT Mumbai order on Arshiya Ltd vs. DCIT for A.Y. 2010-11 & 2012-13. Learn about additions in 153A assessment based on incriminating material and their deletion.

70% Max Depreciation Allowed on Imported Second-Hand Machines: CESTAT Kolkata

October 22, 2023 3297 Views 0 comment Print

In the India Potteries Ltd. vs. Commissioner of Customs case, CESTAT Kolkata rules 70% max depreciation on imported second-hand machines. Full order analysis.

Section 271(1)(c) penalties leviable only in clear cases of income concealment or inaccurate reporting

October 22, 2023 1545 Views 0 comment Print

Read the full text of the ITAT Ahmedabad order regarding the penalty under Section 271 in the case of Harson Labs Pvt. Ltd. vs. ACIT for Assessment Year 2015-16.

Calcutta HC Dismisses Income Tax Appeal After 9-Year Delay

October 22, 2023 282 Views 0 comment Print

Calcutta High Court dismisses an income tax appeal challenging a final order by the Settlement Commission issued after a nine-year delay.

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