ITAT rules in favor of Kortek Electronics: deletes additions for fall in GP ratio. Know more about the ruling & its implications
Notification No. 95/2023-Income Tax by the Central Board of Direct Taxes, New Delhi, specifies conditions for tax exemption for BPC Penco XVII Corporation. Learn more in this article.
ITAT Delhi held that deletion of additions on account of understated sale consideration based on loose papers, dairy, documents, etc. seized in search action without dealing with the fundamental aspects of the matter by CIT(A) order cannot be countenanced in law. Accordingly, matter restored back to CIT(A) for fresh determination.
CESTAT Kolkata held that one time payment, in the form of Premium or Salami for transfer of interest in the property cannot be equated as rent and hence the same is not exigible to the service tax. Accordingly, demand of service tax set aside.
जीएसटी एक्ट में वित्तीय वर्ष 2022-23 के लिए अंतिम संशोधन 30 नवंबर 2023 के आबादी ने लागिए कर दिए गए त्रुटियों को ठीक करने की अंतिम तिथि।
Appellant’s conviction for the offence punishable under Section 302, read with Section 34 of IPC was set aside as there was no material to prove the existence of common intention which was the necessary ingredient of Section 34 of IPC.
Admission fees paid to a club towards corporate membership would be a revenue expenditure because it had been incurred wholly and exclusively for the purposes of business and not towards capital account.
Learn about income from other sources, including dividends, gambling winnings, and more, and how they are taxed in India. Detailed analysis provided.
The Allahabad High Court emphasizes the importance of providing reasons in judicial and administrative orders as it quashes an unreasoned GST registration cancellation.
CESTAT Hyderabad rules that no service tax is payable on electricity and water supplied to tenants by GMR Hyderabad Airport, citing government exemptions.
