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Archive: November, 2023

Posts in November, 2023

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

November 12, 2023 3882 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 768 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 1203 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 597 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 1215 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 732 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 750 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 1860 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.

Kerala HC Directs Consideration of Condonation Application

November 12, 2023 453 Views 0 comment Print

Kerala High Court orders consideration of condonation application for 234 days delay in an appeal against rejection of FTC claim. Learn more in this analysis.

ITAT Upholds Income Tax Addition for Unexplained Cash Deposit in Bank Account

November 12, 2023 2187 Views 0 comment Print

ITAT Chennai upholds income tax addition due to failure in explaining the source of a significant cash deposit in a bank account. Learn more in this analysis.

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