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No Section 271B Penalty for Delayed Audit Report due to IBC Proceedings

August 29, 2023 645 Views 0 comment Print

ITAT Delhi determines if Bhushan Aviation’s audit report delay due to IBC proceedings warrants a penalty under the Income Tax Act section 271B.

ITAT Permits Appeal Due to Self-Assessment Tax Adjustment against refund

August 29, 2023 501 Views 0 comment Print

ITAT Pune favors Shashi Structural Engineers Pvt. Ltd. in tax adjustment case against refunds. Delve into the case details and the tribunal’s decision.

Development Agreement Termination Compensation Deduction allowed to One Co-Owner can’t be denied to Other

August 29, 2023 531 Views 0 comment Print

A detailed review of Raghuvirsinh Vaghela vs ITO case where ITAT Ahmedabad ruled on the validity of compensation claims in co-ownership development agreements.

Revenue cannot adjust TDS on Salary not deposited by employer against refunds of employee

August 29, 2023 669 Views 0 comment Print

ITAT Delhi rules on tax refund adjustment. Employers not depositing withheld tax can’t be set off against refunds owed to employees under Section 205.

ITAT allows Section 54 Deduction Not Claimed in Original or Revised Return

August 29, 2023 762 Views 0 comment Print

ITAT Delhi permits a Section 54 deduction that wasn’t claimed in original or revised returns. The case highlights the powers of appellate authorities.

Section 12A Registration denial: ITAT grants one more opportunity to Appellant

August 29, 2023 1806 Views 0 comment Print

ITAT Mumbai decides on Kalyan Riverside Charitable Foundation’s registration under sections 12 & 80G. Key insights on the ITAT’s decision and implications.

ITAT Rejects Tax Dept Appeal for Invalid Reassessment Approval

August 29, 2023 432 Views 0 comment Print

Review of ITAT Delhi’s decision in ITO Vs Soumya Tradecom Pvt Ltd case, highlighting lack of valid approval in reassessment proceedings. Key takeaways.

Non-deduction of TDS: ITAT allows appellant to submit CA Certificate

August 29, 2023 411 Views 0 comment Print

Analysis of ITAT Chandigarh’s order allowing the submission of a CA certificate regarding non-deduction of TDS by the State Council for Science, Tech & Environment.

ITAT Allows PCIT to Exercise Revisionary Power Due to AO’s Oversight on Scrap Sales

August 28, 2023 270 Views 0 comment Print

ITAT Pune rules on Sushil Industries’ case, asserting that overlooking the sale of scrap is erroneous and jeopardizes revenue. A significant verdict for businesses.

CESTAT Upholds Service Tax Demand Due to Unsubstantiated Appellant Claims

August 28, 2023 174 Views 0 comment Print

CESTAT Delhi upheld service tax demand for Manan Infra Development Pvt Ltd. Key insights on ‘Construction of Complex’ service tax evasion and more.

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