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Archive: 09 March 2024

Posts in 09 March 2024

No Addition on estimation basis without Rejecting Books of Accounts: Delhi HC

March 9, 2024 2169 Views 0 comment Print

Delhi High Court decrees no income addition without rejecting books of accounts in PCIT Vs Forum Sales Pvt. Ltd., upholding ITAT’s decision.

Delhi HC amends GST registration cancellation date for Northern Hosiery Factory

March 9, 2024 156 Views 0 comment Print

Delhi High Court amends GST registration cancellation date for Northern Hosiery Factory, setting precedent on retrospective changes without reasons.

System generated order establishes non-application of mind: Delhi HC restores GST registration

March 9, 2024 339 Views 0 comment Print

Delhi High Court restores GST registration canceled without proper assessment, emphasizing the necessity for mindful administrative action.

No Evidence of Cash Payments for Demand Drafts to 34 Parties: ITAT deletes addition

March 9, 2024 324 Views 0 comment Print

Delhi’s ITAT dismisses revenue’s appeal, upholding CIT(A)’s deletion of additions under Section 68 of the Income Tax Act due to lack of cash payment evidence.

IGST Refund Interest Cannot Be Denied even if interest not claimed: Delhi HC

March 9, 2024 732 Views 0 comment Print

Delhi High Court orders IGST refund with interest under Section 56 of DGST/CGST Act, clarifying entitlement even if not claimed in the refund application.

Cash deposit against repayment of cash by Kolkata based companies: ITAT upholds deletion of additions

March 9, 2024 639 Views 0 comment Print

Chennai’s ITAT supports CIT(A)’s deletion of cash deposit additions under Section 69A of the Income Tax Act, highlighting evidence-based judgment.

Section 50C: Higher Property Sale Consideration Not Ground for Section 271(1)(c) Penalty

March 9, 2024 675 Views 0 comment Print

ITAT Delhi rules against penalty under Section 271(1)(c) for inaccurate income particulars from property sale, emphasizing legal and factual clarity.

Classification of Tyre Pyrolysis Oil & Carbon Black: CAAR Mumbai Ruling

March 9, 2024 309 Views 0 comment Print

Explore the detailed ruling by CAAR Mumbai on the classification of Tyre Pyrolysis Oil & Recovered Carbon Black, shedding light on their industrial applications and implications for import/export.

Roasted areca/betel nuts falls under Custom Tariff Heading 2008: CAAR Delhi

March 9, 2024 165 Views 0 comment Print

Explore the Customs Authority of Advance Rulings decision on the classification of imported Roasted Areca Nuts by A One Traders. Get insights into the legal battle and implications.

Contempt Plea Filed Against SBI for Electoral Bond Disclosure Delay

March 9, 2024 1014 Views 2 comments Print

Contempt plea filed against SBI for delaying disclosure of electoral bond details post Supreme Court’s ruling. Learn about electoral bonds and the legal proceedings surrounding the issue.

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