Techna Infrastructure Pvt. Limited Vs ACIT (ITAT Kolkata) ITAT held that in this case Since the ld. Assessing Officer has already decided the issue with regard to the applicability of rate of tax, no further dispute remains pending with the ld. CIT(Appeals). In case, ld. CIT(Appeals) wanted to change the colour of litigation or character […]
Kamal Jafferali Wadhwania Vs ITO (ITAT Mumbai) Section 194I is applicable only in case of rent may be on plant and machinery (@ the rate of 2%) and for the use any land or building or land appurtenant to a building. In this case assessee is paying a rent/lease charges for the office premises which […]
Ajashy Engineering Sales Pvt. Ltd. Vs ITO (ITAT Delhi) ITAT held that AO was not justified in denying the deduction claimed by the assessee on account of late deposit of PF/ESI/EPF, albeit before filing the return of income. Admittedly in the matter, the Revenue had not contended that the assessee has deposited the contribution after […]
DC observes that in view of the previous observations, it is noted that the regulation 40B(1A) of the CIRP regulation introducing the Form CIRP 7 was inserted by notification no. IBBI/2020-21/GN/REG070, dated 15.03.2021 and which came into force from the same date. Thereafter, the Form CIRP 7 was filed on 29.03.2021 and the next Form […]
The annual return on Foreign Liabilities and Assets (FLA) is required to be submitted by the following entities which have received FDI (foreign direct investment) and/or made FDI abroad (i.e. overseas investment) in the previous year(s) including the current year i.e., who holds foreign assets or/and liabilities in their balance sheets
IPCA Laboratories Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad) CESTAT find that the dispute relates to demand of duty on the semi-finished goods/ work in process goods during the debonding of EOU. We find that as per the details submitted by the appellant which is not in dispute, the semi-finished goods/ work in process was […]
Asokan Meena Vs ITO (ITAT Chennai) It is an admitted fact that the assessee has filed her return of income for the AY 2016-17 in ITR-4 and has maintained books of accounts, but for the AY 2017-18, she had filed return of income u/s.44AD of the Act, and estimated net profit without any books of […]
Sh. Vinod Jindal Vs DCIT (ITAT Delhi) Penalty under section 271AAA of the Act was imposed based on the additions made in the assessment order, aggregating to Rs.24,54,184/-. However, while deciding assessee’s quantum appeal, the Tribunal in ITA No. 839/Del/2017, dated 30.06.2022 has deleted addition of Rs. 1 lakh made on account of unexplained cash. […]
PPIs are instruments that facilitate purchase of goods and services, including financial services, remittance facilities, etc., against the value stored on such instruments. PPIs that can be issued in the country are classified under three types viz. (i) Closed System PPIs, (ii) Semi-closed System PPIs, and (iii) Open System PPIs.
Janardhan Gupta Vs DCIT (ITAT Delhi) ITAT find that as emanating from the facts narrated above, the revenue authorities have disallowed the assessee’s claim of cost of purchase and cost of improvement de hors any corroborative evidences. In our considered opinion, there is no infirmity in the orders of the authorities below as onus is […]
