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Archive: January, 2024

Posts in January, 2024

NCDs Redemption, No Income Escapement: ITAT Delhi Rules in Favor of BCP Singapore

January 22, 2024 1860 Views 0 comment Print

BCP V Singapore FVCI Pte. Ltd. wins against reassessment by ITAT Delhi. Detailed analysis of Rs.203.56 Cr. redemption income dispute. No escapement found.

No Service Tax on PSF, Admin Fee & Airport Taxes: Virgin Atlantic Wins Case

January 22, 2024 942 Views 0 comment Print

In a landmark decision, Virgin Atlantic prevails against service tax demands on Passenger Service Fee (PSF), Admin fee, and Airport Taxes. Learn about the crucial legal analysis.

ITAT Directs Re-adjudication on Client Code Modification

January 22, 2024 1593 Views 0 comment Print

Explore the ITAT Mumbai’s order in Rajani S Iyer Vs ITO case, directing re-adjudication on Brokers’ Client Code Modification. Full text and analysis of the order provided.

Without Consignment Note, Transport Services Not GTA Services: CESTAT Delhi

January 22, 2024 5283 Views 0 comment Print

Explore the CESTAT Delhi ruling in White N White Minerals Pvt. Ltd. vs Commissioner of Central Goods & Service Tax. Learn why absence of a consignment note deems transport services non-GTA, impacting tax liability. Full analysis and implications.

Change of Opinion not Grounds for Income Escaping Assessment: Bombay HC

January 22, 2024 966 Views 0 comment Print

Explore Geopreneur Realty Private Limited vs Union of India in Bombay High Court. Analysis of the notice under Section 148, reasons for reopening, and the court’s stance on change of opinion in income tax assessments.

ITAT Remands Cash Deposit Case During Demonetization by Bar & Restaurant Manager to CIT (A) for Reconsideration

January 22, 2024 924 Views 0 comment Print

Explore ITAT Bangalore’s order in Radhakrishna vs ITO. Cash deposits during demonetization deemed business receipts for bar and restaurant. ITAT remands for reconsideration.

Failure to Produce Loan Transaction & Share Pledge/purchase Documents: ITAT Directs Re-adjudication

January 22, 2024 537 Views 0 comment Print

Failure to produce loan transaction and shares documentation: ITAT Mumbai orders re-examination. Explore the details of Fortune Credit Capital Ltd vs DCIT case.

TDS under Section 194C Applicable to CAM Charges Distinct from Rent: ITAT Delhi

January 22, 2024 4128 Views 0 comment Print

ITAT Delhi decision on TDS under section 194C for CAM charges. Explore Liberty Retail Revolutions Ltd. vs ACIT case details, analysis, and conclusion.

Kerala HC sets aside assessment order, citing violation of natural justice

January 22, 2024 1215 Views 0 comment Print

Kerala High Court sets aside assessment order in Biju Paul vs ACIT, citing violation of natural justice. Learn about the case and its implications.

Inadequate Enquiry Alone does Not Warrant Invoking Section 263 of Income Tax Act

January 21, 2024 888 Views 0 comment Print

Delhi High Court rules in PCIT vs Mohak Real Estate Pvt Ltd case that inadequate enquiry alone doesn’t warrant invoking Section 263 of Income Tax Act.

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