ACIT Vs SV Global Mill Ltd. (ITAT Chennai) We find that the Tribunal in the context of Section 10(37) of IT Act, held that interest received for delayed payment of enhanced compensation in respect of acquisition of immovable property is in the nature of interest liable to be taxed u/s.56(2)(viii) r.w.s. 145A(b) of IT Act. […]
It was found that assessee confirmed loan transactions and confirmation was on record. Revenue nowhere considered said documents and rejected claim of assessee without any basis. Rejection of claim of assessee without any basis was not justified. Issue was restored back to AO to decide it afresh after giving an opportunity of being heard to assessee.
Prakash Chand Bethala Vs DCIT (ITAT Bangalore) Section 50C provides that where the consideration received or accruing as a result of transfer by an assessee of a capital asset being rent or building or both is less than the value adopted or assessed by any authority for the purpose of payment of stamp duty in […]
Prakash Chand Bethala Vs DCIT (ITAT Bangalore) In the present case, the AO applied the provisions of section 50C of the Act on the basis of Sale Deed executed by the assessee on 9.3.2007. At this stage, it is appropriate to observe that there was an Agreement of Sale executed by assessee on 8.3.1993 and […]
Loesche India Pvt. Ltd Vs ACIT (ITAT Delhi) The record reveals that the assessee had paid the insurance premiums of the employees’ family members in terms of employment Rules framed by the assessee-company there for. Therefore, it can hardly be said that the impugned expenditure were not incurred wholly and exclusively for the purpose of […]
Absence of earning any interest income on capital from the firm is no bar to claim the interest paid on borrowings for the purpose of contributing capital to the firm by the assessee as deductible expenditure.
The CIMS will be effective from 01.04.2021, i.e., Bill of Entry filed on or after 01.04.2021 for items as listed in this Notification shall be governed by CIMS. The facility of online registration will be available with effect from 15.02.2021.
Case No. ADD (O.I.) 34/2019- Anti-dumping investigation concerning the imports of Toluene Di-Isocyanate from European Union, Saudi Arabia, Chinese Taipei and United Arab Emirates. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF TRADE REMEDIES) NOTIFICATION FINAL FINDINGS New Delhi, the 28th January, 2021 Case No. ADD (O.I.) 34/2019 Subject : Anti-dumping investigation […]
Case No. ADD-(OI) 05/2020 Anti-dumping investigation concerning imports of Black Toner in powder form originating in or exported from China PR, Malaysia and Taiwan.
The Income Tax Department is also directed to consider the provisioning of a facility in its software to upload Income Tax Returns with the actual amount paid and for the system to accept the said returns even though the complete amounts had not been paid.
