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Application for condonation of delay cannot be rejected without assigning any specific reasons

June 27, 2022 6945 Views 0 comment Print

Rahul M. Vadodariya Vs ITO (ITAT Ahmedabad) ITAT held that Ld. CIT(A) has not approached the matter judiciously and has dismissed the appeal of the assessee, by rejecting the application for condonation of delay, without assigning any specific reasons why the delay in filing appeal should not be condoned. There is no allegation to the […]

Cash Payment cannot be treated as payment to single person merely for consolidated payments to group leader

June 27, 2022 2259 Views 0 comment Print

Explore the details of Rahul Udyog’s appeal against ITO, focusing on TDS disallowance and business expenses. Analysis of Hamali, Jalau Lakdi, Bardana expenses, and interest disallowance.

DGFT clarifies on Chip Import Monitoring System (CHIMS)

June 27, 2022 8763 Views 2 comments Print

A. Whether multiple consignments against a CHIMS registration can be imported within the validity period of CHIMS Registration? Response: Importer may include multiple products in one registration number. However, for each shipment a separate registration number is required.

GST Rate on fishing vessel marine engine and its spare parts

June 25, 2022 2298 Views 0 comment Print

Applicability of GST rate of 5% (CGST 2.5% + SGST 2.5%) on marine engines of heading 8407, being the part of fishing vessel of heading 8902, as per Entry Serial No.252 of Schedule I of Notification No.1/2017 CT(R) dated 28.06.2017 & State Notification No. S.R.O.360/2017.

Draft IRDAI Staff (Officers and other Employees) (First Amendment) Regulations, 2022

June 25, 2022 1317 Views 0 comment Print

Draft Insurance Regulatory and Development Authority of India Staff (Officers and other Employees) (First Amendment) Regulations, 2022

ITAT restricts addition to 50% for non-furnishing of requisite detail related to refund of advances from customers

June 24, 2022 513 Views 0 comment Print

Explore Ravindra Dattu Jadhav vs. ITO case: Uncovering undisclosed income in land trading, agricultural activity dispute. ITAT Pune modifies CIT(A) order, restricts addition to 50%.

No liability to pay Service Tax Until receipt of Consideration

June 24, 2022 1083 Views 0 comment Print

Explore the ITAT Chennai ruling in Col. D. Pradeep Kumar vs. DCIT regarding the disallowance of Service Tax under section 43B. ITAT directs the AO to verify and limit the disallowance

ITAT Deletes Addition for failure of Revenue to Provide Cross-Examination of Witness

June 24, 2022 717 Views 0 comment Print

Explore the ITAT Delhi ruling in Garg Acrylics Ltd case. Detailed analysis of alleged bogus purchases, challenges to statement validity, and successful reversal of unjustified additions.

ITAT deletes arbitrary & highly immaterial addition for undervaluation of stock

June 24, 2022 1041 Views 0 comment Print

Explore the ITAT Ahmedabad ruling in Chirai Salt (India) Pvt. Ltd case. In-depth analysis of the stock undervaluation dispute, challenges to methods, and successful deletion of additions.

CIT cannot invoke revisionary powers to impose his own understanding of extent of inquiry

June 24, 2022 582 Views 0 comment Print

The issue in the present case relates whether the assessment order has been passed by Ld. AO without making inquiries or verification with respect to the deduction/exemption claimed under section 54 of the Act as discussed above and hence the assessment is erroneous insofar prejudicial to the interest of the Revenue and thus requiring revision by Pr. CIT u/s 263 of the Act.

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