ITAT Kolkata held that an assessment is invalid where the mandatory notice under Section 143(2) is not issued by the Assessing Officer having jurisdiction. The Tribunal quashed the assessment without examining the merits of the additions.
The Gujarat High Court upheld the Tribunal’s estimation of 6% on disputed purchases, holding that concurrent findings of fact warranted no interference. It dismissed the appeals for absence of any substantial question of law.
The Gujarat High Court held that the Assessing Officer relied only on information from the Maharashtra Sales Tax Department without conducting independent verification. It upheld the restriction of the addition to 5% and dismissed the Revenues appeal.
White Willow Vs ITO (ITAT Surat) The Income Tax Appellate Tribunal (ITAT), Surat allowed the assessee’s appeal against the order of the National Faceless Appeal Centre for Assessment Year 2014-15, which had upheld the addition of ₹1.50 crore under Section 68 on account of unsecured loans and the disallowance of interest expenditure of ₹7,18,581. The […]
ITAT deleted the TP adjustment, allowed 60% software depreciation, but upheld other disallowances, partly allowing the appeal.
The Court held that Section 263 could not be invoked where the AO had made inquiries and accepted the assessee’s explanation.
The Court held that Section 263 could not be invoked where the AO had raised queries, examined replies and completed the assessment.
This guide compiles depreciation rates under the Income-tax Act and useful lives under the Companies Act for various business assets. It serves as a comprehensive reference for calculating depreciation across different asset classes.
The article explains the trademark filing and prosecution process in Bhutan, including examination, publication, opposition and registration. It also outlines the legal framework governing trademark protection.
The article explains when CDSCO Import License is mandatory for importing regulated healthcare products into India. It outlines the approval process, documentation and compliance requirements.
