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Cash Deposit during Demonetization from Undisputed Source: ITAT Deletes Addition

September 12, 2023 9012 Views 0 comment Print

Analysis of ITAT Delhi’s decision in Sheo Chand Yadav vs ITO, where the tribunal deleted the income tax addition related to cash deposits during demonetization.

No Service Tax on Reimbursable Expenses: CESTAT Ruling

September 12, 2023 1176 Views 0 comment Print

Analysis of the CESTAT Chennai ruling in Paper and Allied Conversions vs Commissioner of GST & Central Excise, focusing on service tax on reimbursable expenses.

Unit Linked Insurance Plan (ULIP) redemption taxable as capital gain

September 12, 2023 9996 Views 0 comment Print

Explore a detailed analysis of ITAT Delhi ruling on Subhash Tandon Vs ITO, which sheds light on taxability of ULIP redemption as capital gains.

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

September 12, 2023 456 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 3705 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 4131 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 978 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 1110 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 1608 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 22431 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.

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