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Archive: June, 2024

Posts in June, 2024

Constitution Doesn’t Mandate Reservation for All Categories in HC Judges Appointment: MP HC

June 15, 2024 282 Views 0 comment Print

Read MP HC landmark judgment: Constitution does not require reservation or adequate representation of all categories in High Court judges’ appointment.

Victory for Taxpayer: Delhi HC Rules Against Unsubstantiated GST Demands Section 73

June 15, 2024 1104 Views 0 comment Print

Delhi High Court rules against unsubstantiated GST demands, ensuring taxpayer rights under Section 73 of CGST Act. A landmark victory for due process.

Delay in filing of GST appeal beyond condonation period of 30 days

June 15, 2024 1323 Views 0 comment Print

Explore the intricacies of GST appeal delays and condonation periods, highlighting key judgments and the balance between procedural rigor and justice.

Interest Income from money lending business assessable as Business Income

June 15, 2024 483 Views 0 comment Print

Read detailed analysis of ITAT Mumbai’s order regarding interest income from money lending assessed as business income in Kamlakant Chhotalal Exporters Pvt Ltd vs ACIT case.

ITAT Dismisses Appeal: No Legal Heir Substituted Post-Taxpayer’s Death

June 15, 2024 459 Views 0 comment Print

The ITAT Mumbai dismisses the appeal of Binod Kumar Singh as no legal heir was substituted within a reasonable time after his death. Full order details here.

Accommodation entry: ITAT deletes Section 68 Addition of Rs. 1.17 Crore

June 15, 2024 768 Views 0 comment Print

Learn about the penalty of Rs. 31.83 Lakh imposed by the MCA for issuing shares in physical mode instead of DEMAT mode in the Biogenomics case.

Mechanical Reliance on Information: Section 148 notice invalid

June 15, 2024 645 Views 0 comment Print

ITAT Kolkata quashes notice under Section 148 as AO fails to verify credible information. Insightful analysis of R.S. Darshan Singh Motor Car Finance Pvt. Ltd. Vs ITO.

ITAT deletes addition for share capital and share premium of Rs. 1.26 Crore 

June 15, 2024 294 Views 0 comment Print

In the case of Wellman Logistics Pvt. Ltd Vs ACIT, ITAT Kolkata deletes income tax addition u/s 68, proving creditworthiness of share subscribers and genuineness of transactions with supported documents.

Co-op society providing credit facilities to members is entitled to Section 80P(2)(a)(i) deduction

June 15, 2024 414 Views 0 comment Print

Kotekar Vyavasaya Seva Sahakara Vs ACIT (ITAT Bangalore) Co-operative societies providing credit facilities to its members is entitled to deduction u/s 80P(2)(a)(i) of Income Tax Act.

Section 80P(2)(d) deduction on interest/dividend income out of investments with co-op society

June 15, 2024 492 Views 0 comment Print

Learn about the ITAT Bangalore ruling allowing deduction claims for interest earned from credit facilities extended to members by Chokkadi Vyavasaya Seva Sahakari Bank.

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