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No Service Tax on Manpower Supply Before 16.06.2005: CESTAT Kolkata Ruling

September 12, 2023 231 Views 0 comment Print

In Mars Mountain Security Services vs Commissioner of Central Excise & Service Tax, CESTAT Kolkata clarified non-taxability of Man-Power services before June 16, 2005.

Distress Sale of Land: ITAT deletes Section 50C addition

September 12, 2023 2217 Views 0 comment Print

ITAT Kolkata rules in favor of Southern Road Carriers Ltd, stating the Assessing Officer was not justified in making tax additions based on stamp duty value. Get the full case analysis.

Excess application of income of previous years can be set off from subsequent year’s surplus income

September 12, 2023 2502 Views 0 comment Print

Analysis of ITAT Bangalore’s decision in Sindhi Youth Association vs ADIT, focusing on set-off of earlier year’s excess application to subsequent year’s income under Section 11 of the Income Tax Act for Charitable Trusts.

ITAT allows known Loss on closing stock valuation as per Principle of Prudence

September 12, 2023 501 Views 0 comment Print

Analysis of the ITAT Mumbai case, Sanjeev Motwani vs ACIT, focusing on the deletion of addition concerning the valuation of closing stocks based on the Principle of Prudence.

No Service Tax on Amadeus India Incentives/Commissions for CRS Developer Usage

September 12, 2023 627 Views 0 comment Print

Analysis of CESTAT Kolkata’s judgment in Nitco World Travels vs Commissioner of Service Tax. How it impacts the taxation on commission from Amadeus India.

SEBI Circular: Board Nomination Rights for InvIT Unitholders

September 11, 2023 897 Views 0 comment Print

Get insights into SEBI’s circular granting board nomination rights to Unitholders of Infrastructure Investment Trusts (InvITs). Learn about conditions and process.

BCAS asks for deferment of form 10B and 10BB

September 11, 2023 21561 Views 1 comment Print

Bombay Chartered Accountants Society requests a one-year deferment of Form 10B/10BB, citing challenges faced by charitable trusts in complying with the new audit requirements in India.

CESTAT Confirms 6% Interest on 253-Day Delay in Customs Duty Refund

September 11, 2023 1098 Views 0 comment Print

Exploring the CESTAT Chennai decision in Nanda Agency Vs Commissioner of Customs on granting 6% interest for 253-day delay in customs duty refund.

CESTAT Quashes SCN for Lack of Suppression or Misstatement Allegations

September 11, 2023 393 Views 0 comment Print

A detailed analysis of CESTAT Bangalore’s ruling in favor of Nexteer Automotive India over the Commissioner of Central Excise and Service Tax. Learn why the show-cause notices were quashed.

ITAT allows expenditure incurred on amenities provided to tenants against house property income

September 11, 2023 849 Views 0 comment Print

Analysis of ITAT Kolkata’s landmark decision in Bagaria More Co. Ltd. vs ADIT, focusing on the treatment of the cost of amenities provided to tenants under Income from House Property.

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