ITAT Kolkata held that as per provisions of section 23(1)(c) the annual lettable value of the vacant property of unsold units/flats held as stock-in-trade by the assessee but remained vacant during the year is to be computed at Rs. NIL.
Read the key details of IRDAI Circular No. Ref: IRDAI/HLT/CIR/MISC/190/10/2023, discussing the revision of Customer Information Sheet for policyholders
ITAT Delhi held that ‘mark to market’ loss on future and forward contracts are not notional loss of contingent nature. Accordingly, foreign exchange fluctuation loss as claimed by the assessee allowed.
CESTAT Bangalore held that the goods i.e. ‘frequency converter’ is rightly classifiable under Chapter Heading 8504 and not under Chapter Heading 9032.
Learn how to form a Section 8 Company, its benefits, and the requirements for incorporation. Explore tax exemptions, minimal capital, and annual compliance.
Explore the case of ACIT Vs Punj Lloyd Ltd. regarding disallowance of interest expenses on investments yielding exempt income. Understand legal aspects & decisions.
Explore key proposed amendments to PFRDA (Retirement Adviser) Regulations, 2016. Learn about changes in eligibility, security deposit, and application procedures.
Allahabad High Court quashes a GST penalty under Section 129, citing arbitrary actions and no intent to evade tax, imposing heavy costs on the Revenue.
Karnataka High Court upholds the ITAT’s decision to delete additions made by Revenue concerning undisclosed income from investments in shell companies.
ITAT Delhi dismissed the Revenue’s appeal due to a low tax effect, as the tax effect was below the threshold prescribed by the CBDT Circular.
