Prity Tubes Pvt. Ltd. Vs JCIT (ITAT Kolkata) Coming to the next issue of sales promotion and advertisement expenses, we note that despite several queries and opportunities made available by the authorities below, the assessee has not been able to establish the nexus between the expenses incurred and the business of the assessee. Assessee has […]
Recording of reasons before initiation of reassessment proceedings & communication thereof to assessee is sine qua non that goes to root of matter
Shri Palanisamy Chinnasamy Vs ITO (ITAT Chennai) In this case, The assessment was completed under section 144 r.w.s. 144(1)(b) of the Act by making addition of ₹.5,34,000/- under section 69A of the Act on the ground that the money received from the customers on various dates in old notes cannot be accepted a genuine as […]
Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which is rectifiable. If the Audit Report was available with the assessee at the time of filing of Return of Income and was not filed due to bonafide reasons the benefit of exemption under section 11 cannot be denied if otherwise assessee is eligible to claim the same.
CDA as a waterproofing material used in any civil structure involving cement/concrete in HIPs, such as expressways, dams, hydro or thermal power projects, etc.
SC held that IBC would prevail over Customs Act, and once moratorium is imposed in terms of sections 14 or 33(5) of Code, the customs authority only has a limited jurisdiction to assess/determine quantum of customs duty and other levies.
Section 194A provision provides that obligation cast under Section 194IA is qua each transferee and not qua aggregate consideration.
Liquor license fee paid by assessee who is not license holder cannot be treated as eligible expenses & not allowable
Currency was attempted to the exported and was brought within the limits of customs area contrary to the restrictions and prohibitions imposed by the Customs Act or any other law for time being in force, is liable for confiscation.
Activity of Chemist / Pharmacy is incidental or ancillary to dominant object or purpose for running a hospital & Tax Exemption allowable.
