ITAT Delhi held that expenditure towards gift to persons who work for the assessee company during Diwali occasion is held for the purpose of business as per the principle of commercial expediency and accordingly allowable as business expenditure.
NCLAT held that claim before resolution professional/ liquidator has to be based on solid documentary evidence and not based on indirect or circumstantial or secondary evidence.
ITAT Chennai held that additions made towards disallowance u/s. 14A r.w.r. 8D of the I.T. Rules, 1962 to book profit computed u/s. 115JB(2) of the Income Tax Act is unsustainable.
ITAT Pune held that difference between average price of sugar sold in the market and that sold to members at concessional rate is appropriation of profit or not needs re-consideration. Accordingly, matter restored.
ITAT Mumbai held that interest income earned by the assessee on account of surplus funds placed in FD is eligible for deduction under section 10AA of the Income Tax Act.
Supreme Court held that Order giving substantial amendment cannot be said to be clarificatory in nature and accordingly, such amendment cannot be given retrospective effect.
Delhi High Court held that case can duly be transferred from Jurisdictional Assessing Officer to Central Circle by way of passing order under section 127 of the Income Tax Act.
Supreme Court held that for calculating limitation period for filing an appeal to NCLAT, the date on which order was pronounced and the time taken to provide certified copy is to be excluded.
ITAT Chennai held that depreciation towards payment as non-compete fee for purpose of business of assessee is duly allowable.
Delhi High Court held that rejection of application under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (the SVLDR Scheme) merely because of some non-material errors in quantum of duty is unsustainable.
