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Archive: 09 December 2023

Posts in 09 December 2023

SC order on transfer pricing on transfer of power to sister unit, claim of expenses

December 9, 2023 1812 Views 0 comment Print

Explore the key aspects of the CIT vs. Jindal Steel case in the Supreme Court of India. Detailed analysis on transfer pricing, deduction under Section 80 IA, and more.

Supreme Court Clarifies Depreciation Claim: No Deadline on Mode Selection

December 9, 2023 2319 Views 0 comment Print

Explore the landmark Supreme Court judgment on Income Tax Rules regarding depreciation claim. No deadline for choosing mode, only requirement is pre-filing. Details and analysis here.

ITAT Grants Final Opportunity: Remits Unexplained Income Case to CIT(A) for Reexamination

December 9, 2023 720 Views 0 comment Print

Explore the ITAT Mumbai order in the Devang Jitendra Mashru vs ITO case for AY 2010-11. Uncover the addition under section 69 and the final opportunity granted due to transaction information absence.

TDS Deducted by Employer cannot be Recovered from deductee: Delhi HC

December 9, 2023 1467 Views 1 comment Print

Explore Delhi High Court’s ruling on TDS recovery, citing Income Tax Act Section 205. Analysis of Vishesh Khanna Vs DCIT & Ors case. Full judgment details.

HC upheld Section 40A(3) addition in absence of evidence against addition

December 9, 2023 657 Views 0 comment Print

Explore the Kerala High Court judgment in P.V. Thomas Vs ITO, upholding Income Tax Act Section 40 (3) addition. Detailed analysis and implications for assessment year 2015-2016.

CENVAT Credit Disallowance: CESTAT Mumbai Directs Re-adjudication

December 9, 2023 612 Views 0 comment Print

Read the full CESTAT Mumbai order on Hindustan Coca-Cola Beverages’ restoration claim disallowance. Detailed analysis of CENVAT credit issues and re-adjudication directive.

HC dismisses revenue appeal against addition on protective basis as substantive addition deleted

December 9, 2023 1464 Views 0 comment Print

Tribunal dismissed the appeal considering the drop of the substantive addition on merits. The Court, however, found no substantial question of law for consideration, given that the addition in the hands of the respondent/assessee was protective.

Delayed Payment: No Deduction for Employee’s PF & ESIC Contribution

December 9, 2023 2892 Views 0 comment Print

Explore the ITAT Mumbai ruling in KMTC (India) Pvt Ltd vs CIT(A) case. Learn about deductions for employee contributions to PF & ESIC deposited belatedly. Full text included.

Kerala HC stays Recovery Proceedings till disposal of Stay Application or Appeal

December 9, 2023 897 Views 0 comment Print

Read the full text of Kerala High Court’s judgment in Kunnappilly Builders LL.P Vs ACIT, directing a stay on income tax recovery proceedings until the appeal is disposed of.

Delhi HC Directs Reconsideration of Income Tax Compounding Application

December 9, 2023 525 Views 0 comment Print

Delhi High Court rejects compounding application due to incomplete bank statements. Learn about Sanjiv Gupta’s case under IT Act Sections 276C(1), 276D, and 277. Detailed judgment analysis included.

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