According to AO, the provisions were not allowable who vide show cause notice asked assessee to furnish details of the provisions made as well as justification for the claim and the assessee did not file any reply to the show cause notice issued.
Mere uploading of notices and orders on the GST portal might not be sufficient to fulfill the requirement of proper service, especially when it prevented assessee from being aware of the proceedings.
Assessee was specifically asked to justify its claim as the agreement had to be with (a) Central Government (b) State Government (c) Local Authority or (d) Statutory Authority and LMRCL did not fit in any of the four categories.
Appellant had approached this Court by way of the present intra Court appeal. It was held that BoD had failed to accord any reason as to how the mere act of dishonor of cheques issued by assessee would amount to misconduct.
Interest paid on late payment of TDS was not an expenditure wholly and exclusively incurred for the purpose of business and further it was a payment, which was in the form of tax, so it was not an allowable expenditure.
Pursuant to the execution of CEPA, a meeting was held at the Directorate General of Foreign Trade (DGFT) headquarters for consideration of the allocation of the bullion TRQs under the CEPA for the Financial Year 2024-25.
The Officer was directed for fresh consideration of Penalty @200% for non-generation of an e-invoice as there was a failure on the part of the department to consider relevant GST circular No. 10/2019 dated 31.05.2019.
Assessee had consistently shown the plots as investments in earlier years and that the nature of income could not be determined solely based on the nature of the business for tax audit purposes.
In pursuance of search, notice u/s.153A was issued and in response, assessee also filed its return of income. AO noted that assessee had taken loan from four parties during the years under consideration.
The Show Cause Notice to be issued in terms with Section 73 (1) of the Central Act or State Act could not be confused with the Statement of the determination of tax to be issued in terms with Section 73 (3) of the Central Act or the State Act.
