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Archive: 12 November 2023

Posts in 12 November 2023

ITAT Chennai: Appeals Allowed, Cost Imposed for Non-Appearance

November 12, 2023 594 Views 0 comment Print

ITAT Chennai allows appeals, directs the assessee to deposit a nominal cost of Rs 5000 for non-appearance before lower authorities. Detailed analysis of the case.

Penalty Cannot Be levied for Inaccuracy if notice was for Concealment of Income

November 12, 2023 1326 Views 0 comment Print

ITAT Pune case Shivaji Dattatray Sonawane vs ITO. Explore why the penalty for inaccuracy can’t be levied if the notice was for concealment.

No Addition u/s 68 – Share Application Money Proven with Documents

November 12, 2023 3759 Views 0 comment Print

Inter Publicity Pvt. Ltd. Vs DCIT (ITAT Mumbai) Introduction: The recent order from ITAT Mumbai, dated 17/10/2023, in the case of Inter Publicity Pvt. Ltd. vs. DCIT sheds light on the assessment year 2014-15. The appeal addresses concerns about additions under section 68 of the Income Tax Act related to share application money. Detailed Analysis: […]

ITAT Pune: Re-adjudication on Relief u/s 89 for Employee under ERS Scheme

November 12, 2023 702 Views 0 comment Print

ITAT Pune directs re-adjudication in Anita Anil Rangale’s case, emphasizing employees’ non-entitlement to ERS and company’s lack of obligation under Sec 89.

Mere Retracted Statements Insufficient for Customs Act Penalties: CESTAT

November 12, 2023 1107 Views 0 comment Print

CESTAT Bangalore rules in Rafeek K.T. vs Commissioner of Customs case: Retracted statements without corroborative evidence deemed inadmissible.

CENVAT Credit Eligibility Tied to Law at Service Receipt Time: CESTAT

November 12, 2023 519 Views 0 comment Print

CESTAT Ahmedabad rules on CENVAT credit eligibility. Intas Pharmaceuticals allowed to claim credit based on law at service receipt, not credit availing date.

No Penalty if no inaccurate Reporting and no Concealment by Assessee

November 12, 2023 1146 Views 0 comment Print

Understand the condonation of delay imposed by the Delhi High Court in the case of CIT Vs. Standard Chartered Grindlays Pty Ltd. Learn about the penalty imposed and the background of the appeal under Section 271(1)(c) of the Income-tax Act, 1961.

Section 12AA Registration, Discrepancies in Trust Documents: ITAT Directs Re-adjudication

November 12, 2023 672 Views 0 comment Print

Explore ITAT Pune’s order in Sangli Kutch Jain Seva Samaj vs. CIT. Trust registration u/s 12AA rejected; discrepancies found. ITAT directs re-adjudication.

CESTAT Upholds Denial of VCES Benefit Due to Violation of Section 106 of Finance Act

November 12, 2023 687 Views 0 comment Print

Explore CESTAT Ahmedabad’s decision in Archna Traders vs. C.C.E. & S.T. on denial of VCES Scheme benefit under Section 106 of Finance Act 2013. Full analysis here.

Reassessment u/s 153A Requires Incriminating Material: Delhi HC

November 12, 2023 1785 Views 0 comment Print

Delhi High Court’s verdict on reassessment under Section 153A of Income Tax Act without incriminating material. Analysis and legal implications. Learn more.

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