ACIT Vs Amardeep Singh Bedi (ITAT Delhi) No disallowance is called for, on belated payment of employees’ contribution to ESI and PF in case the assessee deposited the said contribution before due date for filing of return of income under Income Tax Act Facts- The appeal is preferred by the revenue against CIT(A) order deleting […]
Sun Sea Shipping Agency Vs The Commissioner of Customs (CESTAT Chennai) The goods are counterfeit and have been confiscated. However, penalty u/s 112(a) being on higher side is reduced Facts- The assessee filed a Bill of Entry dated 22.12.2017 through their Customs Broker M/s. Sun Sea Shipping Agency for the clearance of import consignment in […]
Smt.Chandrakala Shashidhar Vs ITO (ITAT Bangalore) Held that assessee would be entitled to the benefit u/s 54F of the I.T.Act once it is demonstrated that the consideration received on transfer has been invested either in purchasing a residential house or in construction of a residential house even though the transactions are not complete in all […]
VCI Hospitality Ltd. Vs DCIT (ITAT Delhi) Interest expenses on FBT being penal in nature cannot be treated as business expenses Facts- Assessee is a company engaged in the business of hotel operations and marketing activities. Assessee filed its ROI for A.Y. 2011-12 on 30.09.2011 declaring income of Rs.80,67,320/-. The case was selected for scrutiny […]
La Opala Rg. Ltd. Vs DCIT (ITAT Kolkata) The assessee was under compulsion to maintain a deposit with the electricity board to ensure supply of power to the unit and such interest income had first-degree nexus with the eligible undertaking of the assessee and accordingly the same would equally qualify for the deduction u/s 80IC […]
Held that employee is eligible for relief u/s 89 on one-time lumpsum ex-gratia amounts payable by the employer as such compensation received is treated as salary received in advance.
Stock of Exotic Live Spices was declared as per Voluntary Disclosure Scheme titled as ‘Advisory for Dealing with Import of Exotic Live Species in India and declaration of stock’ accordingly held that summon issued to the appellant by the respondent no. 3 is bad in law and illegal.
S K Srivastava Vs Central Board of Direct Taxes (Delhi High Court) The Income Tax Act, 1961 provides complete machinery for the assessment/ reassessment of tax, imposition of penalty and for obtaining relief with respect to an improper order. One ought to not abandon this machinery and invoke the jurisdiction of the High Court u/A […]
The Commissioner of Goods and Services Tax Vs Amrit Cement Limited (Meghalaya High Court) The eligibility or entitlement to obtain cenvat credit, in terms of Section 140(1) of the Act of 2017, is based on whether the matter is reflected in the return which is filed as per the existing law in the manner prescribed; […]
Sling Media Pvt. Ltd. Vs DCIT (ITAT Bangalore) Payments forming part of CSR were claimed as deduction under section 80G. Held that assessee cannot be denied the benefit of claim under Chapter VI A, which is considered for computing ‘Total Taxable Income”. If assessee is denied this benefit, merely because such payment forms part of […]
