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Addition in case of bogus purchases restricted to the extent of gross profit involved in business

June 30, 2023 2961 Views 0 comment Print

ITAT Mumbai held that 100% addition in case of bogus purchases unsustainable. Notably, addition to the extent of rate of gross profit in case of bogus purchase is duly sustained.

Services performed on principal-to-principal basis not classifiable as intermediary service

June 30, 2023 1236 Views 0 comment Print

CESTAT Chennai held that as appellant is providing main service i.e. business support service on his own account and is not acting as an intermediary i.e. the services were performed by the appellant on a principal-to-principal basis and at arm’s length basis.

Interest by reference court u/s 28 of Land Acquisition Act is not chargeable to tax

June 30, 2023 2298 Views 0 comment Print

Held that the interest granted by the reference Court u/s. 28 of the Land Acquisition Act from the date of possession of land till the date of judgment of High Court is an accretion of the value of the land acquired, not chargeable to tax.

Order passed without proper service of notice u/s 147/148 is liable to be quashed

June 30, 2023 3798 Views 0 comment Print

ITAT Visakhapatnam held that the requirement of both the issuance and service of such notice upon the assessee for the purposes of Section 147 and 148 of the Act are mandatory jurisdictional requirements. Order passed is liable to be quashed on account of non-service of notice u/s 147/148.

Software expense incurred for use of license not giving enduring benefit is revenue expenditure

June 30, 2023 1278 Views 0 comment Print

ITAT Mumbai held that the assessee has merely got the license to use the software for its daily business requirement and has never owned the same. Further, such expense was used for business purpose on yearly rent basis it has not given any enduring benefit. Hence, such expense are revenue in nature.

Renting of immovable property for hotel is excluded from the ambit of section 65(105)(zzzz)

June 30, 2023 1350 Views 0 comment Print

CESTAT Chennai held that renting of immovable property for a hotel is expressly excluded from the ambit of the taxable service in Section 65(105)(zzzz) of the Finance Act, 1994. Accordingly, demand not sustainable.

Amount received towards IT and SAP charges not treatable as FTS hence not taxable

June 30, 2023 759 Views 1 comment Print

ITAT Delhi held that amount received from its Indian subsidiary towards IT and SAP charges cannot be treated as Fees for Technical Services (FTS) under Article 12(4)(a) of India – Portugal DTAA. Accordingly, additions unsustainable.

AO not empowered to withdraw or modify or substitute order passed u/s 143(3) with another order

June 30, 2023 1842 Views 0 comment Print

ITAT Delhi held that statue doesn’t empower the Assessing Officer to withdraw or modify or substitute the assessment order passed under Section 143(3) of the Income Tax Act with another assessment order.

Direction to State & Govt Agencies given to calculate tax difference in works contract post-GST

June 30, 2023 1260 Views 0 comment Print

Karnataka High Court directed the State and Government Agencies to calculate ‘tax difference’ on balance works executed or to be executed after 01.07.2017. In nut-shell, court directed to determine the pre-GST and post-GST tax difference in case of works contract.

Regular bail granted as petitioner materially co-operated in the investigation

June 30, 2023 1677 Views 0 comment Print

Delhi High Court granted regular bail on the reasonable grounds based on which it can be believed that the petitioner is not guilty of offence under section 3 of PMLA and also that petitioner has materially co-operated in the investigation.

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