ACIT Vs Amit Tiwari (ITAT Indore) The submissions of the assessee are that penalty proceedings u/s 271AAB as initiated is bad in law on account of firstly penalty notice so issued is defective as it does not disclose specific charge and secondly there is no concealed income as search took place prior to due date […]
Aurum Pharmachem Private Limited Vs Commissioner of CGST & Excise (CESTAT Kolkata) Issue that has to be considered in the present appeal is whether the Appellant not having maintained separate accounts in respect of the common input services used for manufacture of dutiable final products as well as exempted goods is mandatorily required to pay […]
It was held that there can be two initial assessment years and the year in which there was substantial expansion that year is the initial assessment year within the period of 10 years for the purpose of claiming deduction under section 80-IC of the Act.
CBDT instructions dated 09/08/2019 speaks about the comparative analysis of cash deposits, cash sales, month wise cash sales and cash deposits. It also provides that whether in such cases the books of accounts have been rejected or not where substantial evidences of vide variation be found between these statistical analyses.
Supertex Industries Ltd Vs DCIT (ITAT Mumbai) Undoubtedly, the assessee was referred to the board of industrial and financial Reconstruction Under the provisions of the sick industrial Companies act. Assessee was declared a sick company u/s 3 [1] [o] of the SICA. Rehabilitation scheme of the assessee was approved by the board of industrial and […]
Section 250(6) of the Act mandates that the Ld. CIT(A) while deciding the appeal is required to pass order on points of determination (grounds of appeals), decision therein on and reasons for such decision.
Caravel Logistics Private Limited Vs Commissioner of Customs (CESTAT Chennai) Handbook of Procedures issued by the Directorate General of Foreign Trade (DGFT) dated 08.04.2005 (2004-09) requires, at paragraph 2.32, in the case of import in the form of metallic waste, scrap, etc., referred to therein, the furnishing of pre-shipment inspection certificate at the time of […]
In this case findings of the Adjudicating Authority, clearly exonerates this appellant from the penal action under Section 114AA of the Customs Act, 1962, for the reason that there was no material on record to prove that the appellant had submitted the fake gate pass.
Sarabjeet Singh Vs ITO (ITAT Amritsar) The brief fact of the case that the assessee is a trader &filed his return u/s 139(1) by taking the benefit of presumptive scheme u/s 44AD of the Act. During the F.Y. 2010-11 related A.Y. 2011-12 the turnover was 15,50,000/- & declared total income of Rs.1,40,880/-. The notice u/s […]
DCIT Vs 3i Infotech Consultancy Services Limited (ITAT Mumbai) ITAT held that factoring charges incurred by the assessee company is not in the nature of interest and that the assessee was not under the obligation to deduct TDS as per the provisions of section 40(a)(ia) of the I.T. Act. For this, we would like to […]
