SEBI decided to reduce the time taken for allotment and listing of units of privately placed Infrastructure Investment Trust (InvIT)
After consultation with stakeholders, it has been decided to provide an additional option to individual investors to apply in public issues of units of REITs with a facility to block funds through Unified Payments Interface (UPI) mechanism for application value upto Rs. 5 Lac.
Read about the ITAT Ahmedabad’s ruling in ITO vs. Yagnesh Dayabhai Vyas, where disallowance under Section 40(a)(ia) was deemed unjust when TDS was duly deducted and paid before the return filing deadline.
G. V. N. Hospitals Vs ACIT (ITAT Chennai) In the present case, admittedly there is difference in net profit as shown in ITR and tax audit report and same has not been satisfactorily explained by the assessee. The Assessing Officer, after considering relevant facts has rightly made additions towards difference in net profit. The learned […]
ACIT Vs GP Global Energy Pvt. Ltd. (ITAT Delhi) In so far as bench marking the international transactions using customs data is concerned we sustain the order of the Ld. CIT(Appeals) as the Ld. CIT(A) observed that the Chennai Bench of the Tribunal in the case of Coastal Energy Pvt. Ltd. Vs. ACIT (supra) held […]
Sovakar Guru Vs State of Odisha and Ors. (Orissa High Court) The grievance of the Petitioner, insofar as payment of arrears is concerned, has already been redressed but the interest component of the amount which has been held up for the last twenty-one years, is required to be paid. There is no dispute about the […]
No limitation is applicable to claim of Service Tax refund claim filed after GST introduction due to overriding effect of Section 142(8)(b) of CGST Act and claim can be denied only on grounds of unjust enrichment.
Income from Sale of Shares treated as Business Income as Assessee himself treated the same as Business Income in earlier & Subsequent years
Praveen Kumar Chauhan Vs ITO (ITAT Delhi) Revenue submitted that the assessee failed to explain the source of cash deposits. The only contention of the assessee before the authorities below was that the amount was received as a gift from his father. He submitted that the assessee has merely filed an affidavit. However, creditworthiness of […]
ITAT held considering the practical difficulties involved in furnishing the segmental details of AE transactions and non-AE transactions, penalty under Sec. 271G could not be justifiably imposed.
