Explanation offered by the assessee would constitute ‘reasonable cause’ within the meaning of section 273B of the Act and hence the assessee would be entitled for immunity from levy of penalty u/s 272A(2)(k) of the Act.
Skaps Industries India Pvt Ltd Vs. ITO (ITAT Ahmedabad) Section 90(4), in the absence of a non-obstante clause, cannot be read as a limitation to the treaty superiority under Section 90(2), we are of the considered view that an eligible assessee cannot be declined the treaty protection under section 90(2) on the ground that the […]
This appeal, filed by the assesseee, being ITA No. 2960/Mum/2016, is directed against the appellate order dated 16.02.2016 passed by learned Commissioner of Income Tax (Appeals)-3, Thane (hereinafter called the CIT(A)), for assessment year 2011-12, appellate proceedings had arisen before learned CIT(A) from the assessment order dated 25.03.2014 passed by learned Assessing Officer (hereinafter called the AO) u/s 143(3) of the Income-tax Act, 1961 (hereinafter called the Act).
PCIT Vs Rungta Mines Ltd (Calcutta High Court) The legal issue that the Revenue seeks to assert is as to whether the payment of the net present value by an assessee engaged in mining for use of forest land for mining purpose would be a capital expenditure or a revenue expenditure. It is not in […]
Granting tax relief to Deloitte India, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the provisions relating to Tax deduction at Source (TDS) are not applicable to the professional fee paid by them to its Group Entities in US and Singapore.
Whether any addition to income can be made on the basis of balance-sheet and profit and loss accounts certified to have been prepared on estimate basis to avail bank loan and having no relation with the actual?
Coming to the controversy on rebate received from the postal department, it cannot be treated as a commission or an amount received for promoting the postal services. Such incentives are given by the postal authority to encourage use of franking machines, especially where the volumes are above a certain threshold level.
Natthani Infrastructures Vs State of Chhattisgarh (Chhattisgarh High Court) 1. Learned counsel appearing for the petitioner would submit that petitioner has made an application on 05.04.2018 before the respondent authorities for reimbursement of additional Goods and Services Tax (GST) liability on civil contract and work order issued prior to implementation of Goods and Services Tax Act, […]
Shri Jafrudin Kaji Vs The ITO (ITAT Ahmedabad) It is an undisputed fact that the assessee sold land for Rs.72 lakhs as evident from the sale deed. Therefore, the argument of the learned counsel for the assessee that the amount of cash deposits represents the sale consideration of agriculture land is without any substance. However, […]
In re Visvesvaraya National Institute Of Technology (GST AAR Maharashtra) We find that in the present application as per submissions made before us, the applicant is recipient of service and not service providers and also that these services are not under reverse charge mechanism. The notification as referred by them, is applicable to provider of […]
