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Archive: 10 July 2025

Posts in 10 July 2025

CESTAT Delhi Rejects Higher Bitumen Import Value

July 10, 2025 282 Views 0 comment Print

CESTAT Delhi sets aside import duty hike on bitumen for Varaha Infra, affirming use of lowest comparable value for identical goods.

Interstate Transit Anticipatory Bail Allowed if Territorial Link Exists: SC

July 10, 2025 579 Views 0 comment Print

The Supreme Court clarifies the jurisdiction of High Courts and Sessions Courts to grant anticipatory bail when an FIR is registered in a different state.

Sec. 271(1)(b) Penalty Invalid as AO Accepted Compliance by Passing Order u/s 143(3)

July 10, 2025 927 Views 0 comment Print

ITAT Delhi quashes Rs. 10,000 penalty on Carreen Builders under Section 271(1)(b), citing assessee’s cooperation and assessment completion under Section 143(3).

Section 271(1)(b) Penalty Invalid as Assessment Completed u/s 143(3)

July 10, 2025 594 Views 0 comment Print

Delhi ITAT sets aside penalty on Globus Infocom for non-compliance, citing AO’s own records and a crucial precedent on Section 143(3) assessments.

ITAT Deletes Sec. 234B Interest; AO Failed to Adjust Seized Cash Against Tax Liability

July 10, 2025 528 Views 0 comment Print

Delhi ITAT rules on Sushil Bansal’s appeal, deleting interest u/s 234B and penalty u/s 271AAB on Rs. 88 lacs seized cash, citing pre-search disclosure.

CPC Lacked Power Under Sec. 143(1) to Deny Sec. 80P for Late Filing Prior to Finance Act 2021

July 10, 2025 825 Views 0 comment Print

ITAT Chandigarh rules that CPC lacked power to disallow Section 80P deduction for late-filed returns under Section 143(1) for AY 2018-19, citing statutory amendments.

Sec. 80P Deduction Cannot Be Denied for Delay; Return Filed Within Sec. 139(4) Period

July 10, 2025 1149 Views 0 comment Print

 ITAT Rajkot overturns CPC’s disallowance of Section 80P deduction for a co-operative society’s late return, clarifying the scope of Section 143(1) adjustments for AY 2019-20.

Sec. 80P Deduction Cannot Be Denied for Late Filing; Return Filed Within Sec. 139(4) Period

July 10, 2025 927 Views 0 comment Print

ITAT Rajkot rules on disallowance of Section 80P deduction for a co-operative society due to late filing, examining scope of Section 143(1)(a) adjustments and relevant judicial precedents.

Sec. 80P Denial Unjustified; Amendment to Sec. 143(1)(a)(v) Applies Prospectively From AY 2021-22

July 10, 2025 615 Views 0 comment Print

ITAT Hyderabad rules on Section 80P deduction for co-operative societies, stating it cannot be denied solely due to a belated income tax return filing.

Sec. 80P Denial Invalid; Amendment to Sec. 143(1)(a)(v) Not Applicable for AY 2019-20

July 10, 2025 555 Views 0 comment Print

ITAT Rajkot rules on Section 80P deduction for co-operative societies, stating it cannot be denied solely due to a belated income tax return filing.

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