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Archive: March, 2024

Posts in March, 2024

No Section 80IC deduction if Audit was not completed on or before filing ITR

March 18, 2024 1263 Views 0 comment Print

Securico Electronics vs. ACIT: ITAT Delhi disallows Rs.33,97,998 80IC deduction due to late Form 10CCB filing. Full text analysis & conclusion.

Toyota Financial: ITAT Directs Re-Adjudication on Taxability of NPAs’ Interest

March 18, 2024 705 Views 0 comment Print

Toyota Financial Services India Ltd vs ACIT: ITAT Bangalore provides relief, orders re-adjudication on taxability of NPAs’ interest income. Full text analysis.

ITAT Delhi quashes reassessment initiated by AO on incorrect facts

March 18, 2024 1743 Views 0 comment Print

ITAT Delhi quashes reassessment initiated by AO on incorrect facts. Full text analysis of Shri Anuj Chaudhary vs ITO case for AY 2009-10.

Business Transactions Shouldn’t be treated as Deemed Dividend: ITAT Delhi

March 18, 2024 825 Views 0 comment Print

In ACIT Vs Adiish Jain, ITAT Delhi ruled on deemed dividend under IT Act, deleting the addition. Detailed analysis of the case & judgment.

Addition for Consignment Sales Commission Unwarranted if same duly reflected in P&L account

March 18, 2024 990 Views 0 comment Print

ITAT Delhi rules that no addition shall be made when commission earned from consignment sale of foodgrains is reflected in P&L account. Detailed analysis of ITO Vs Smt. Keshar Devi.

ITAT Pune Directs Readjudication: 80G Exemption Application

March 18, 2024 939 Views 0 comment Print

ITAT Pune remands Sanj Sawali Care Foundation’s 80G exemption application to CIT(E) for reevaluation after failure to produce documentary evidence. Details here.

DCIT Vs Hindustan Thermal EPC: No Disallowance for Business Loss – ITAT Delhi

March 18, 2024 489 Views 0 comment Print

ITAT Delhi rules in favor of Hindustan Thermal EPC, disallowance of expenses deleted, detailed analysis of the case.

If Payees Accounted for Received Amounts & Paid Taxes, Assessee Not in Default under Sec. 201(1)

March 18, 2024 1317 Views 0 comment Print

Explore the detailed analysis of the Satya Kiran Healthcare Pvt. Ltd. vs. ITO case regarding TDS deduction disputes, its implications, and the ITAT Delhi’s verdict.

Benefit under West Bengal State Support for Industries Scheme, 2008 duly admissible post GST: Calcutta HC

March 18, 2024 768 Views 0 comment Print

Read the detailed analysis of Adani Wilmar’s eligibility for incentives under West Bengal’s industrial scheme post GST, as per Calcutta High Court judgment.

Section 80G Registration Application cannot be rejected for inadvertent error

March 18, 2024 3966 Views 0 comment Print

Explore the Kolkata ITAT’s verdict on the rejection of Sarda Mission Sevasram Viveknagar’s application for 80G approval due to a wrong clause mention, highlighting rectifiability.

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