Patna High Court held that there is no jurisdictional error since material/ documents based on which order of assessment has been passed is duly supplied to the assessee. Accordingly, writ petition dismissed.
Technology has played a transformative role in reshaping India’s economy and governance. Initiatives such as Digital India aim to promote efficiency, transparency, and accessibility through digital means.
By way of this appeal, the assessee has challenged the correctness of the order of the Learned Principal Commissioner of Income Tax-1, Rajkot passed u/s.263 of the Income Tax Act, 1961 dated 31/03/2024 for Assessment Year (AY) 2017-18.
ITAT Delhi held that exemption under section 10(23C)(iiiad) of the Income Tax Act granted on the basis of provisional registration under section 10(23C)(i) of the Income Tax Act even in absence of approval u/s. 12A. Accordingly, appeal of assessee allowed.
ITAT Ahmedabad held that funds remitted from foreign sources into NRE accounts are not taxable in India unless there is material to establish that they originate from taxable Indian income. Accordingly, exemption u/s. 10(4) of the Income Tax Act granted.
ITAT Delhi held that invocation of provisions of section 56(2)(viib) of the Income Tax Act erroneous as there is no over-valuation of shares over the fair market value of shares. Accordingly, addition made u/s. 56(2)(viib) deleted.
ITAT Delhi held that fees for providing Spa Consultancy falls under the category of ‘Independent Personal Service’ and hence was not taxable in India and therefore assessee was not required to deduct TDS. Thus, disallowance u/s. 40(a)(ia) deleted.
Supreme Court upholds constitutionality of Sections 34(1), 47(1)(a)(i) and 58(1)(a)(i) of the Consumer Protection Act, 2019 prescribing pecuniary jurisdictions of the district, state and national commissions on the basis of value of goods and services paid as consideration.
ITAT Jaipur held that trust incurring more expenditure than income doesn’t debar it from benefit of exemption u/s. 11(1)(a) of the Income Tax Act in respect of income admittedly applied for charitable purpose. Accordingly, appeal of assessee allowed.
CESTAT Kolkata held that the enhanced rate of duty in terms of Notification No. 87/2017-Cus. dated 17.11.2017 is not applicable here since notification was published in Official Gazette on 20.11.2017 and date of entry inwards are prior to 20.11.2017.
