Explore the ITAT Mumbais decision favoring Bombay Society of the Salesian Sisters India, allowing the expenditure on school building repairs and property taxes as an application of income for charitable purposes.
In a landmark judgment (Bharat Sher Singh Kalsia vs State of Bihar), the Supreme Court quashes FIR, emphasizing protection against unjust criminal prosecution. Analysis and implications.
Explore the case of Dombivali Paper Mfg. Co. challenging penalty under section 271(1)(c) for alleged bogus purchases. Detailed analysis, tribunal’s view, and legal insights provided.
Explore the case of Ramprasad Nigam vs ITO under Section 271(1)(c) for disallowed exemption claim under Section 54. The penalty is quashed based on accurate disclosure.
Purpose for which loan was acquired is irrelevant to consideration of question whether expenditure/interest on such borrowed capital/loan was revenue expenditure or capital expenditure – Borkar Packaging Pvt. Ltd. Vs ACIT (ITAT Panaji)
Explore the key highlights of Budget 2024, focusing on economic pillars like fiscal control, green economy, infrastructure, healthcare, and technological innovation. Insights for corporate India and the youth.
Explore the significant aspects of the Interim Budget 2024, covering personal tax rates, surcharge updates, old tax demands waiver, and expectations for the final budget.
Explore the Chhattisgarh High Courts full judgment in Vinod Lalwani vs Union of India under the Income Tax Act. Detailed analysis of the order, objections, and implications.
Explore the Delhi High Court judgment in Mahashian Di Hatti Pvt. Limited Vs DCIT regarding an income tax notice. Detailed analysis, key points, and legal implications.
Citykart Retail Pvt. Ltd. Vs Commissioner Commercial Tax (Allahabad High Court)- Non filling up of Part ‘B’ of e-Way Bill by itself without any intention to evade tax cannot lead to imposition of penalty.
