"Ajay Kumar Agrawal FCA, a science graduate and fellow chartered accountant in practice for over 26 years. Ajay has been in continuous practice mainly in corporate consultancy, litigation in the field of Direct and Indirect laws, Regulatory Law, and commercial law beside the Auditing of corporate and Banks. He has wide experience in variety of consulting matters of corporate and multinationals in the field of merger & acquisitions, corporate restructuring , across sectors , domestic and international taxation. Litigation has been his favorite area of practice and he has advised corporate and multination’s corporate in the field of Direct Tax, FERMA & FDI Laws, Search and Seizure segments. He is also contributor to the professional publications. He was also associated as member with Professional development committee of NIRC of ICAI. His email id is ajay@caajaykagrawal.com "
Bombay High Court held Section 153C notices invalid as the satisfaction note was not recorded immediately after the searched person’s assessment.
Bombay High Court dismissed the Revenue’s appeal, holding it could not challenge the ITAT’s addition after not appealing the CIT(A)’s order.
The Madras High Court ruled that employers cannot grant Section 89 relief or refund TDS unless employees submit Form 10E under Section 192(2A). Employees must claim eligible refunds by filing their income-tax returns.
ITAT held that delayed filing of Form 67 is a procedural lapse and directed the AO to grant foreign tax credit claimed under Section 90.
Orissa High Court held that Covid-19 constituted genuine hardship, directed Form 10B to be treated as filed in time, and ordered reconsideration of Section 12A exemption.
ITAT held that GST refund is not taxable where the tax component was never claimed as expenditure and was recorded as a receivable.
ITAT held that Section 54 exemption must be examined separately for each residential house sold. Aggregating gains from multiple transfers is not permitted.
The High Court declined to examine bogus purchase issues after holding the Revenue’s appeal not maintainable due to low tax effect.
ITAT held that delayed filing of Form 10B cannot defeat Section 11 exemption if the audit report is available before processing under Section 143(1). The adjustment was deleted.
ITAT deleted additions after finding the AO relied only on ACB information without independent inquiry or supporting evidence. ITAT deleted additions after holding that estimated marriage expenses and FDR investment were unsupported by evidence and explanations remained unchallenged.
