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No Provision to Reverse Capital Goods Cenvat Credit for Damage, Wear & Tear

November 2, 2023 414 Views 0 comment Print

Learn how the CESTAT Kolkata ruled that no provision exists to reverse CENVAT credit on capital goods due to damage and wear & tear. Get insights into the case of East India Holding Pvt. Ltd. vs. Commissioner of CGST & Central Excise.

Installation Cables, Outlets Modules, & Fiber Optic Cables falls in Part E of Karnataka Sales Tax Act Schedule: SC

November 2, 2023 270 Views 0 comment Print

Analysis of the Supreme Court judgment on the classification of installation cables, outlet modules, patch cords, and fibre optic cables under Karnataka Sales Tax Act.

Software eligible same rate of Depreciation as Computer System

November 2, 2023 3009 Views 0 comment Print

ITAT Chennai grants relief to Caterpillar India, allowing 60% depreciation on computer software as an integral part of computer systems. Details of the case.

Assessee Not Liable for Co-Owners’ On-Money payments: ITAT Ahmedabad

November 2, 2023 753 Views 0 comment Print

In the case of Manish Ramanbhai Patel Vs ITO, ITAT Ahmedabad allows the appeal, emphasizing that the addition cannot be made in the hands of the assessee for on-money paid by co-owners.

Delhi HC: Exclusion of OTL Comparable – ITAT to Decide

November 2, 2023 384 Views 0 comment Print

The Delhi High Court directs the ITAT to reconsider the exclusion of Onward Technologies Limited (OTL) as a comparable in the transfer pricing study. Detailed analysis and conclusion.

No Stamp Duty on work order executed on behalf of Government: Delhi HC

November 1, 2023 681 Views 0 comment Print

In a Delhi High Court ruling, it is clarified that no stamp duty is payable on instruments executed by or on behalf of the government. This decision is significant for arbitration cases.

Burden of Proving Concession Shifts from Assessee to Department in Reassessment Proceedings: Allahabad HC

November 1, 2023 405 Views 0 comment Print

Allahabad High Court ruling: In original proceedings, the burden to prove claimed concessions is on the assessee; it shifts to the department in reassessment. Analysis.

Correct Application of AS-9 for advances: ITAT confirms deletion of Addition

November 1, 2023 381 Views 0 comment Print

ITAT Mumbai’s recent decision on advance income tax treatment. Explore the case between ITO and Nayak Chaudhari Construction Pvt. Ltd. and its implications.

Contravention of Section 143, Section 129 and AS 18: MCA Imposes Penalty on CA

October 31, 2023 471 Views 0 comment Print

Read the adjudication order from the Registrar of Companies, West Bengal, imposing penalties under Companies Act, 2013 on B.K. SAHOO & COMPANY for non-compliance in the audit of TRANSMISSION & DISTRIBUTION (INDIA) LIMITED.

Delay in filing of e-Form INC-20A: MCA Imposes ₹3.50 Lakh Penalty

October 31, 2023 528 Views 0 comment Print

Learn about the ₹3.50 lakh penalty imposed by the Ministry of Corporate Affairs for delayed e-Form INC-20A filing, with detailed analysis and implications.

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