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No abuse of Competition Act if dominance under Section 4 not established: CCI

July 15, 2023 408 Views 0 comment Print

Explore the Competition Commission of India’s judgment on Jitendra Bathla’s allegations against DLF Gayatri Developers. Analysis of Section 4 violation in Club Agreement and market assessment.

ED Cracks Down on Pigeon Education Technology for Illicit Financial Activities

July 15, 2023 429 Views 0 comment Print

Enforcement Directorate seizes a significant sum from Pigeon Education Technology India, a company under investigation for financial malfeasance, leading to discoveries of siphoned funds and international control.

TDS Penalty Void if Assessee Added Back Non-Deducted Tax Expense

July 15, 2023 324 Views 0 comment Print

ITAT Delhi, in the ACIT Vs TV Today Network Ltd case, ruled that no penalty for failure to deduct TDS is applicable if the assessee added back the expense on which the tax was not deducted.

Calcutta HC Condonates Appeal Delay with Rs. 40,000/- Cost

July 15, 2023 2322 Views 0 comment Print

Calcutta High Court allows writ petition in the case of L.G. Balakrishnan & Bros Limited Vs ACIT, setting aside an earlier rejection of appeal due to a delay of 148 days. The court sets a cost of Rs. 40,000/- to be paid to WBGST Authority.

ITAT Allows Deduction for GST Paid Before Due Date of ROI Filing

July 15, 2023 1668 Views 0 comment Print

Delve into the case of Santi Kumar Oswal Vs ACIT where ITAT Kolkata ruled that no disallowance can be made for GST paid before the due date of filing ROI, emphasizing fair application of the Income Tax Act.

Bombay HC Penalizes Last-Minute Stay Application on LOCs; Rs. 50,000 Cost Imposed

July 15, 2023 369 Views 0 comment Print

A last-minute application to stay LOCs for international travel met with strong disapproval and a fine from the Bombay High Court, reinforcing the importance of timely applications to court.

Section 56(2)(vii)(b) Inapplicable to Purchasers if transfer takes place prior to accounting year 2014-15

July 15, 2023 7551 Views 0 comment Print

Read the analysis of the ITAT Kolkata order in the case of Asha Vijay Vs ITO regarding the inapplicability of Section 56(2)(vii)(b) to transfers that took place before the accounting year 2014-15. Learn how the ITAT ruled in favor of the assessee, deleting the addition made under Section 56(2)(vii)(b) of the Income Tax Act.

Disallowance of Expenses: Consideration of Business Commencement – Case Analysis

July 15, 2023 1494 Views 0 comment Print

Explore the recent verdict by ITAT Delhi in the case of ACIT Vs Capricorn Identity Services P Ltd, where it supported the deletion of disallowance and acknowledged the revenue expenditure of business activities.

ITAT Directs Re-adjudication on AO’s Oversight of Section 55A

July 15, 2023 393 Views 0 comment Print

Detailed review of the Satya Dharma Hotels Pvt Ltd vs ITO case, where the ITAT Delhi has directed a re-adjudication due to the AO not considering Section 55A of the Income Tax Act.

CESTAT Rules Against demand on Exempted Service after Cenvat Credit Repayment

July 14, 2023 309 Views 0 comment Print

An exploration of the CESTAT Ahmedabad’s dismissal of the Revenue’s appeal in the case of Commissioner of Central Excise & ST Vs Galaxy Diesel, focusing on the demand for exempted service despite Cenvat Credit repayment.

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