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CESTAT confirms demand of differential duty for failure to meet Project Import regulations

July 15, 2023 288 Views 0 comment Print

A critical review of the case between Graphite India Limited and the Commissioner of Customs, with an emphasis on the significance of adhering to Project Import regulations and the implications of not doing so.

Assessee suffering from heart disease – ITAT directs CIT(A) to condone delay

July 15, 2023 429 Views 0 comment Print

Learn about the recent order of the ITAT Chennai in the V. Babu vs ACIT case, where the CIT(A) appeal rejection due to delayed filing by the assessee is set for re-adjudication.

No Penalty for Estimated Profit-Based Addition

July 14, 2023 627 Views 0 comment Print

Detailed analysis of the ITAT Delhi judgement in Kamlesh Gupta Vs DCIT case where the tribunal ruled that addition made on estimated profit does not constitute concealment, hence, no penalty.

ITAT upholds penalty for failure to furnish audit report without reasonable cause

July 14, 2023 822 Views 0 comment Print

The ITAT Cochin has upheld the penalty imposed on Paravur Service Cooperative Bank for its failure to furnish the audit report of its accounts audited by the Cooperative Department Auditor within the specified date under Section 44AB of the Income Tax Act.

NFAC ex-parte order: ITAT directs re-adjudication for non-compliant assessee

July 14, 2023 978 Views 0 comment Print

Iqbal Singh HUF Vs DCIT (ITAT Chandigarh) Non-compliance with order of CIT (Appeals) cannot be sole reason to allow an addition on taxpayer

Technical glitches: Delay in Form 10CCB filing – Section 80-IA deduction cannot be denied

July 14, 2023 4881 Views 0 comment Print

The ITAT Bangalore has allowed the appeal of Dunichand Khitri Raja against the disallowance of a claim for deduction under section 80-IA of the Income Tax Act. The ITAT held that the delay in filing Form 10CCB, due to technical glitches beyond the assessee’s control, should not bar the claim of deduction.

ITAT directs re-adjudication for addition due to non-reply to assessment notice

July 14, 2023 315 Views 0 comment Print

The ITAT Bangalore has directed the re-adjudication of the case of Satish Panduranga against the addition made by the Assessing Officer (AO) on the ground of non-reply to a notice issued during the assessment proceedings for the assessment year 2017-18.

Denial of Section 11 Exemption – ITAT directs re-adjudication

July 14, 2023 1743 Views 0 comment Print

The Income Tax Appellate Tribunal (ITAT) Bangalore has directed the re-adjudication of the case between Centre for e-Governance and DCIT. The ITAT found that the assessing officer had disallowed the claim of accumulation of 85% of income under section 11(2) of the Income Tax Act due to the lack of a specific purpose mentioned in Form 10.

Eligibility for Availing Direct Input Tax Credit on Deposit Works by KSEBL

July 13, 2023 777 Views 0 comment Print

Explore GST AAR Kerala rulings on KSEBL services, reverse charge for rent a cab, and eligibility for input tax credit on deposit works. Get detailed analysis here.

GST Rate on Non-Affordable Residential Apartment Construction

July 13, 2023 5889 Views 0 comment Print

GST rate and taxable value for construction of residential apartments other than affordable ones, as per ruling by AAR Kerala. Learn about applicable rates, conditions, and deductions for villas construction services.

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