Delhi High Court orders reevaluation in Upinder Kumar Wanchoo vs ITO, stressing fair hearing and document review under Sections 148A(b) and 148A(d) of the Income Tax Act.
Government of Karnataka issued a circular outlining measures for effective GST audit and revenue optimization. The circular highlights the importance of systematic examination of taxpayers’ records, conducting thematic audits, and establishing an audit monitoring committee. Compliance management systems and the use of data analytics are emphasized for improved performance. Read more for detailed insights.
ITAT Pune upholds penalty under Section 271B against Santosh Swarupchand for not filing an audit report, citing contradictions in an accountant’s affidavit.
ITAT Ahmedabad’s decision in case of ONGC Employees Co-op Credit & Thrift Society Limited Vs ITO, provides insight into exemption of interest income under Section 80P(2)(a)(i) of Income Tax Act.
Detailed review of NCLAT judgment in H S Oberoi Buildtech Pvt. Ltd. Vs Inderjit Singh & Anr., highlighting importance of principle of natural justice in passing orders
ITAT Kolkata’s decision, invalidating reassessment for Vansa Properties Pvt. Ltd. vs ITO due to non-issuance of notice under Section 143(2) within stipulated timeframe.
ITAT Kolkata deletes the penalty imposed on Devnadi Advisory Pvt. Ltd. due to alleged non-compliance of notice under section 271B of the Income Tax Act
In the case of Amneal Life Sciences Pvt Ltd Vs C.S.T. Service Tax, the CESTAT Ahmedabad granted a service tax refund for the renting of immovable property services. The appellant, a unit in the Special Economic Zone (SEZ), sought a refund on the service tax paid for renting their manufacturing premises. The department rejected the refund claim on the grounds that the rent invoices were in the name of a different premises. However, the CESTAT accepted the appellant’s explanation and held that the refund should be allowed since renting of immovable property is an approved taxable service. The CESTAT also allowed the refund on consulting engineer services and dismissed the objection regarding the filing of declaration forms. Learn more about the case and its implications.
In the case of Oriental Trimex Limited Vs Commissioner of Customs (Import), CESTAT Delhi allowed interest on auction sale proceeds from the date of receipt of the amount by the Customs Department until the date of disbursal. The CESTAT held that the Revenue cannot adjust the redemption fine against the sale proceeds since the goods were not available for redemption. The appellant was entitled to the sale proceeds, reduced only by the amount of penalty.
In the case of Navneet Dutta Vs ACIT, ITAT Delhi allowed rectification in the revised return, even though the original return was filed late. ITAT remitted the issue to the Assessing Officer to consider the revised return and make an order in accordance with the law.
