ITAT Cochin has quashed a tax demand, ruling that cooperative banks can claim a deduction under Section 80P for interest earned from District Co-operative Banks and Treasury, citing a Kerala High Court precedent.
ITAT Chandigarh’s ruling in the CSJ Infrastructure tax case addresses the application of Section 43CA and the tax treatment of interest on land conversion fees.
The Calcutta High Court upholds the ITAT’s decision, ruling that the reopening of a tax assessment was invalid due to a lack of independent reasoning by the tax officer.
The CESTAT Mumbai ruled that demurrage charged by a shipping company is not a separate taxable service but is linked to the exempt service of goods transportation.
Appellate Tribunal reduced a FEMA penalty against an NRI who received property sale proceeds in a resident account, citing the lack of fraudulent intent.
SEO Description: The ITAT Bangalore has remanded a case back to the tax office to verify whether employee PF/ESI contributions were paid on time, noting a discrepancy between the audit report and the taxpayer’s claim.
CESTAT Mumbai has set aside a penalty on Ceat Ltd for a reversed CENVAT credit, ruling that voluntarily correcting an error negates an intent to evade tax.
CESTAT Mumbai dismisses a revenue appeal, confirming that VAT/sales tax subsidies under the Goa scheme are not to be included in the assessable value for central excise duty.
The CESTAT Mumbai has remanded a service tax dispute back to the original authority for a new adjudication. The case centers on whether tax liability is determined by the date a service is completed or the date payment is received.
CESTAT Mumbai ruled Lehman Brothers India not liable for service tax on winding-up services, setting aside refund rejection and allowing appeals.
