Dolphin Educational Foundation Vs Income Tax Officer (ITAT Chennai) As per provisions of section 12AA of the Act, once a trust is registered u/s. 12AA, it is permanent unless it was withdrawn by a specific order from the authority. However, the law has been amended by the Finance Act, 2020 w.e.f. 01.04.2021 and as per […]
If there is no tax-free income, then no section 14A disallowance is to be made based on assumption that in future, some tax-free income will result to assessee on investment.
NCLT ordered liquidation of respondent company under IBC and claim of Department been rejected. So appeal filed by Revenue after moratorium period is not maintainable
Short issue involved in the present case for determination is as to whether appellant could suo motu take credit reversed during litigation
In case the goods are lost or destroyed by natural causes or by unavoidable accidents during handling or storage in the store room or other approved premises the duty cannot be demanded.
Only that amount can be appropriated which is actually demanded and confirmed by the authority as legitimate duty or dues.
Authority admits that there has to be some material on record on basis of which, A.O. would form a bonafide belief that income of assessee had escaped assessment
PCIT Vs SPPL Property Management Pvt. Ltd. (Calcutta High Court) Tribunal concluded that on both these issues, namely with regard to the provisions for doubtful debts and air-conditioner expenses, the assessing officer had conducted a detailed enquiry and thereafter completed the assessment. Secondly, it was held that the PCIT had erred in invoking the revisional […]
Binayak Hi-Tech Engineering Ltd. Vs ITO (ITAT Kolkata) The Assessing Officer observed from the evidence furnished by the assessee that during the year, the assessee has incurred sales promotion expenses to the tune of Rs.10,51,242/-. The Assessing Officer noted that these payments were made towards payment of credit card bills of Ms. Priyanka Jhunjhunwala and […]
HC held that Since the petitioner wants to avail the remedy under the provisions of law by approaching GST appellate tribunal, which has not yet been constituted, the amount of penalty and interest demanded by authority shall remain stayed during pendency of the writ petition subject to the Petitioner depositing the entire amount of tax demanded.
