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CESTAT Orders Reconsideration Amidst Rule 8(3A) Controversy

July 15, 2023 435 Views 0 comment Print

In a tax dispute with Baroda Rayon Corporation, the CESTAT Ahmedabad has ordered a fresh review due to the legal status of Rule 8(3A) of the Central Excise Rules, 2002. This case raises critical questions regarding the interpretation and application of taxation laws.

Section 147 Assessment Invalid if Based on Cash Deposit Information Alone

July 15, 2023 4692 Views 0 comment Print

In a significant ruling, ITAT Ahmedabad deemed an assessment under Sec 147 of the Income Tax Act, based solely on cash deposit information, as invalid in the case of DineshkumarDalsangbhai Chaudhary Kankavati Society Vs ITO.

Re-Application Permissible for Wrongly Submitted 12A(1)(ac) Registration application

July 15, 2023 3024 Views 0 comment Print

The ITAT Delhi ruling in Arya Samaj Safdarjung Enclave Vs CIT sheds light on the reapplication process for 12A(1)(ac) registration erroneously submitted, encouraging a fresh approach to tax registration for non-profits.

LDT Unrelated to Assessable Value of Goods: CESTAT Quashes Differential Duty Demand

July 15, 2023 525 Views 0 comment Print

CESTAT Ahmedabad set a precedent in Hussain Sheth Ispat Vs Commissioner of Customs, ruling that Light Displacement Tonnage (LDT) is not relevant to the assessable value of goods, nullifying the differential duty demand.

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

July 15, 2023 348 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 498 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 807 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 1026 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 1026 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 5535 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.

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