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No disallowance of Transport commission expense solely for cross-verification absence

September 1, 2023 738 Views 0 comment Print

Analysis of the ITAT Delhi verdict: Why the absence of cross-verification under Section 133(6) shouldn’t be the sole reason to disallow business expenses.

Duly accounted cash sales during demonetization cannot be treated as unexplained cash credit

September 1, 2023 1476 Views 0 comment Print

Analysis of the ITAT Chennai’s ruling in Micky Fireworks Vs ACIT, focusing on the debate around unexplained cash under Section 68 during the demonetization period.

93% of ₹2000 Banknotes in Circulation as of May 19, 2023 Returned

September 1, 2023 477 Views 0 comment Print

Reserve Bank of India’s decision to withdraw ₹2000 banknotes has been highly effective, with 93% of these notes already returned from circulation.

Jharkhand HC Quashes CCL’s Arbitrary Earnest Money Forfeiture, Orders Release

August 31, 2023 465 Views 0 comment Print

Overview of the Jharkhand High Court’s ruling on Atibir Industries’ earnest money forfeiture by Central Coalfields. Dive into the key arguments, analysis, and outcomes.

Depreciation under IT Act Section 32 not allowable if No Business Activity

August 31, 2023 852 Views 0 comment Print

Review of the ITAT Delhi’s decision on Arrow Manpower Services case. Discussion on the disallowance of depreciation claim and implications of the verdict.

Oath recorded by Unauthorized Officer Has No Evidence Value: Delhi HC

August 31, 2023 621 Views 0 comment Print

Delhi High Court decides on the admissibility of evidence in PCIT Vs ARN Infrastructure, emphasizing officer authorization & corroborative evidence.

Orissa HC Directs Payment of 20% of Disputed Tax in Absence of GSTAT

August 30, 2023 510 Views 0 comment Print

Orissa High Court recently delved into the complexities of the Goods and Services Tax (GST) through the case of Sekh Aminur Islam Vs Commissioner of CT & GST. The pivotal concern was the GST recovery in the absence of a Second Appellate Tribunal

CIT(A) not adjudicated issues on merit: ITAT Restores Matter to CIT(A)

August 30, 2023 543 Views 0 comment Print

ITAT Chennai reopens Carborundum Universal’s case with Deputy Commissioner over income tax deletion due to evidence gaps. Full analysis inside.

Email Notice Non-Compliance due to Online Service Knowledge Gap: ITAT Directs Re-adjudication

August 30, 2023 555 Views 0 comment Print

ITAT Bangalore reviews Behra Gopal Krishna Rao’s case, highlighting the challenge of email notices for individuals unfamiliar with computers. Details inside.

Tata Power’s Service Connection Application to be Considered Without Arrear Payment: NCLAT

August 30, 2023 417 Views 0 comment Print

NCLAT rules in favor of Tata Power, stating no arrears payment needed before the date of Resolution Plan approval against Jagannath Sponge Pvt Ltd.

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