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Reduce Section 80IA/80IB deduction from Business Profits for 80HHC deduction

July 5, 2023 1008 Views 0 comment Print

The recent ITAT ruling underlines that the deductions under sections 80IA/80IB should be subtracted from business profits when computing the deduction U/S. 80HHC. This is a comprehensive review of the case ITO vs Madhusudhan Industries.

GST: Advocate’s Presence allowed during Interrogation Under Section 70

July 5, 2023 4947 Views 0 comment Print

Read about the Bombay High Court’s recent judgment in Kamlesh Kumar Mishra vs State of Maharashtra, allowing an advocate’s presence during interrogation under Section 70 of the Maharashtra Goods and Service Tax Act, 2017.

Delhi High Court Ruling: GST Refund on Market Research Services Allowed

July 5, 2023 1713 Views 0 comment Print

Dive into the Delhi High Court’s decision in the case of Ohmi Industries Asia vs Assistant Commissioner, which paves the way for GST refunds on Market Research Services.

Charitable Organization not to be deprived of section 11 exemption for Technical Lapses

July 5, 2023 1212 Views 0 comment Print

A detailed analysis of the ITAT Ahmedabad’s ruling in Bhutakia Bhimasar Vs PCIT, where it was held that a charitable organization should not lose tax exemption benefits due to technical lapses.

AO Can Refer case To TPO Only After Selecting Case For Scrutiny Assessment: Bombay HC

July 4, 2023 2421 Views 0 comment Print

Understand the Bombay High Court’s ruling on PCIT vs Kimberly Clark Lever Private Limited case regarding the reference to TPO and the scrutiny assessment as per the Income Tax Act 1961.

Assessment Order cannot be directed against Only One of Deceased Assessee’s Legal Heirs

July 4, 2023 2223 Views 0 comment Print

Delhi High Court quashes a ₹10 crore tax demand, stating that an assessment order cannot be solely issued against one of the multiple legal heirs of a deceased taxpayer.

BOCW Cess Act did not cover supply contracts: Bombay High Court

July 4, 2023 4002 Views 0 comment Print

In a crucial verdict, the Bombay High Court allows BOCW cess refund to GE T and D India, emphasizing that supply contracts are outside the BOCW Cess Act’s purview.

ITAT Indore Advocates for Fair Assessment with Sufficient Opportunities

July 4, 2023 573 Views 0 comment Print

The ITAT Indore supports the principle of natural justice by asking for re-adjudication of the case of R.M. Chemicals Private Limited vs DCIT due to insufficient opportunity provided to the assessee in the initial assessment.

CESTAT Ruling on one year Refund Period from Date of Final Bill of Entry

July 4, 2023 744 Views 0 comment Print

In the case between Shital Ispat Pvt Ltd and C.C.-Jamnagar, CESTAT Ahmedabad orders re-consideration, stating the one-year period for filing a refund begins from the date of finalizing the bill of entry in instances of initial provisional assessment.

Custom Duty & Penalties on Duty-Free Imported Raw Materials for Pharma Jobwork

July 4, 2023 606 Views 0 comment Print

Explore the crucial CESTAT Ahmedabad judgment on Sun Pharmaceuticals Industries Ltd Vs C.C.E. & S.T, casting a spotlight on the adherence to EXIM policy and implications for the pharmaceutical industry.

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