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Section 10A Deduction Precedes Set-Off of Carry-Forward Business Loss & Depreciation

September 19, 2023 744 Views 0 comment Print

Read about ITAT Mumbai’s decision in BA Continuum India Private Limited Vs. ITO regarding deduction u/s 10A of Income Tax Act before set-off of business loss and depreciation.

ITAT delete section addition of Loan taken for Property Purchase

September 16, 2023 1056 Views 0 comment Print

In the case of Ekta Garg Vs ITO (ITAT Delhi), the ITAT ruled that addition under Section 68 & 69 of the Income Tax Act cannot be made if the assessee proves the identity and creditworthiness of lenders for property purchase loans.

High Court upheld Tribunal’s decision to remand the matter for redetermination

September 16, 2023 378 Views 0 comment Print

This document discusses a tax case involving National Chemical and the Commissioner of Commercial Tax, including issues related to provisional assessments and discrepancies in chemical stocks during a survey.

Seizing authority to establish by evidence that e-way bill was reused: Allahabad HC

September 16, 2023 1068 Views 0 comment Print

Analysis of Allahabad High Court’s decision in BL Agro Oils Ltd. vs. State of U.P. regarding tax and penalty imposition due to alleged E-Way bill reuse.

Addition cannot be deleted merely for mentioning section 68 instead of 69: ITAT

September 16, 2023 9444 Views 1 comment Print

Analysis of the ITAT Delhi case Gloria Eugenia Rynjah Banerji Vs ITO, focusing on why income tax addition of Rs.2002801 was not deleted despite a technical error by the Assessing Officer.

No Suspension of preferential Tariff Treatment for Areca Nut: Madras HC

September 16, 2023 426 Views 0 comment Print

Analysis of Madras High Court ruling in the N and N Traders Vs Assistant Commissioner of Customs case, exploring why the suspension of preferential tariff on imported Areca nut was ruled out.

AO Can Initiate Reassessment Based on Investigation Wing Info: ITAT

September 16, 2023 2094 Views 0 comment Print

Understanding the Nakoda Metal Industries Vs ITO case in ITAT Mumbai. The article elaborates on why the court validated AO’s reassessment proceedings based on external information.

Anti-Profiteering Rules not applies When No Tax Reduction or ITC Increase

September 15, 2023 342 Views 0 comment Print

Read Competition Commission of India’s ruling on Vivek Kumar Vs. Bhartiya Urban case regarding passing on of Input Tax Credit (ITC) benefits.

Co-op Society Providing Credit Facilities To Members Eligible For Section 80P Deduction: SC

September 15, 2023 10683 Views 0 comment Print

Supreme Court of India clarifies the eligibility of cooperative societies for Section 80P deductions under the Income Tax Act, based on their banking activities.

Key Jurisdictional Issue: Adjudicating Authority’s Oversight of Rule 6(3) Explanation

September 15, 2023 288 Views 0 comment Print

Kesoram Spun Pipes And Foundries Ltd. Vs Commissioner Of Central Excise & Ors. (Calcutta High Court) Introduction: The crux of the case involving Kesoram Spun Pipes And Foundries Ltd. vs. Commissioner Of Central Excise & Ors. centers on a critical jurisdictional issue. In this analysis, we delve into the pivotal aspect of the adjudicating authority’s […]

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