Understand how excess premium on shares affects taxation for closely held companies. Exemptions for start-ups and methods for calculating fair market value explained.
Supreme Court restores Income Tax Appellate Tribunal (ITAT) appeal due to delay in Communication of CIT(A)’s order, granting opportunity for merit consideration.
Read about the case of Commissioner of CGST & Excise vs. National Aluminium Company Limited where no duty liability was imposed on transition from EOU to EPCG Scheme due to fulfilled export obligations.
Read about the Intas Pharmaceuticals Ltd vs. C.S.T. – Service Tax case, where the need for legal protection of intellectual property for tax liability is discussed.
Bombay High Court remands 11 refund appeals, instructs petitioner to provide details. A clerical error led to the initial rejection.
In the case of Bombay Samachar Pvt. Ltd Vs ACIT, ITAT Mumbai rules that valuation of sale consideration must involve a Valuation Officer as per Section 50C of the Income Tax Act.
In the case of Syed Nadeem Abbas Vs ITO, ITAT Delhi orders re-adjudication due to incorrect email addresses for hearing notices, ensuring natural justice.
Vakrangee Foundation faces a penalty for non-compliance with tax audit provisions under Section 44AB. ITAT rules that Section 2(15) does not exempt charitable institutions.
Explore case of Vasan Sheri Kelavani Samiti Trust vs. ITO, where Section 11 exemption was denied due to a punching error. ITAT orders re-adjudication and considers rectification application.
Discover the case of Drupad Menda vs PCIT, where the revision order under Section 263 for AY 2018-19 is challenged. Keyman Insurance Policy deductions in question.
