"05 November 2023" Archive

Section 54/54F deduction on purchase of two adjacent & joint flats: ITAT Restores Case

Amrik Sokhi Vs ITO (ITAT Delhi)

Learn about the ITAT Delhi ruling in Amrik Sokhi vs. ITO for A.Y. 2015-16, where the claim of capital gain deduction u/s 54 is restored for verification. Details here....

Bogus Purchase: ITAT Kolkata restricts addition to 5% of Bogus Purchase

Sushama Industries Vs ITO (ITAT Kolkata)

Learn about ITAT Kolkata's decision in Sushama Industries vs. ITO for AY 2011-12, where a 5% disallowance is made on profit element of bogus purchases. Details here....

No Section 194H TDS deductible on Trade Discount Retained by Ad Agencies

PCIT Vs Optimal Media Solutions Ltd (Delhi High Court)

Delhi High Court's judgment in PCIT vs. Optimal Media Solutions Ltd. for AY 2009-10 clarifies that retention by advertising agencies is trade discount, not subject to TDS under section 194H....

Section 69B Requires Evidence, Not Conjectures: ITAT

Babusona Mondal Vs DCIT (ITAT Kolkata)

Read about Babusona Mondal's appeal against the AO's addition under Section 69B. ITAT Kolkata rules that additions can't be made based on conjectures without considering evidence....

Kerala HC Permits Service Tax Appeal with Mandatory Deposit payment

Kaviyoor Service Co Operative Bank Ltd Vs Commissioner of Central Tax (Kerala High Court)

In a recent judgment, Kerala High Court permits a Service Tax appeal subject to the mandatory deposit, ensuring compliance with legal requirements....

Madras HC Sets Aside Order Rejecting Delay Condonation as Assessee was Abroad

Acon Builders & Promoters Vs Commissioner (Madras High Court)

The Madras High Court sets aside an order rejecting the condonation of a 30-day delay in filing a tax appeal due to the assessee being abroad. Learn more....

Absence of Dumping Finding Precludes Imposition of Anti-Dumping Duty

Century Plyboards I Ltd Vs C.C.-Kandla (CESTAT Ahmedabad)

Read about the CESTAT Ahmedabad ruling in Century Plyboards I Ltd Vs C.C.-Kandla case, highlighting the denial of anti-dumping duty refund for past clearances and its implications....

Kerala HC Sets Aside Assessment Order as AO not considered Reply of Assessee

Mallisseri Neelakandan Sankaranunni Namboodiri Vs Additional/Joint/Deputy/ACIT/ITO (Kerala High Court)

In a recent judgment, Kerala High Court annuls an assessment order, citing the importance of considering the assesse's reply before passing judgments....

ITAT Remits Trust’s 12A Registration Matter to CIT(E) for Reevaluation

Kai Vaijanath Channappa Darde Vaidyakiya Research Centre Vs CIT (ITAT Pune)

Read about Kai Vaijanath Channappa Darde Vaidyakiya Research Centre's appeal against the rejection of its registration u/s 12A(1)(ac) by CIT(E). ITAT Pune remits the matter for de-novo consideration....

ITAT Kolkata Allows Interest on Business-Purpose Unsecured Loans

Amit Agarwal Vs ITO (ITAT Kolkata)

Read about Amit Agarwal's appeal against the disallowance of interest on unsecured loans. ITAT Kolkata rules that additions can't be allowed if loans were for business purposes....

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