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Appeal filed by assessee dismissed due to ignorant attitude of assessee towards appeal

July 12, 2020 1032 Views 0 comment Print

Appeal filed by assessee dismissed due to ignorant attitude of the assessee towards appeal.

No Section 54B exemption if new land not purchased within a period of 3 years

July 12, 2020 912 Views 0 comment Print

Bhagwan Keshu Sakhare Vs ITO (ITAT Pune) The issue under consideration is whether CIT is correct in denial of exemption u/s 54B of the Act? In the present case, the case of assessee is selected for limited scrutiny under CASS for the reason of “Deduction claimed under the head capital gains”. After claiming deduction for […]

Software Expenses on Upgradation allowed as Revenue Expense

July 12, 2020 5988 Views 0 comment Print

The issue under consideration is whether the software expenses are allowed as revenue expenditure? Software Expenses incurred for Upgradation are Allowed as Revenue Expenditure.

Bar Council eligible for Registration u/s 12AA & Exemption u/s 80G

July 12, 2020 2454 Views 0 comment Print

The issue under consideration is whether the CIT is correct in rejecting the application filed by Bar Council of Delhi seeking registration u/s 12A (a) of the Income Tax Act?

Business Promotion Expenses for Precious items allowed partially considering nexus with Turnover

July 12, 2020 7932 Views 1 comment Print

The issue under consideration is whether AO and CIT(A) are correct in disallowing the Business Promotional Expenditure declared by the assessee?

Stamp Duty to obtain Business Premises on Lease is Revenue Expense

July 12, 2020 15261 Views 0 comment Print

The issue under consideration is whether the stamp duty paid for obtaining the business premises on lease is deductible under section 37 of the Income Tax Act, 1961?

Section 234B & 234C Interest on Book Profit Not Justified

July 12, 2020 4923 Views 0 comment Print

The issue under consideration is whether the charge of interest under sections 234B and 234C on the book profit was not justified?

Section 69C- No addition on mere Sales Tax Department information

July 12, 2020 3048 Views 0 comment Print

The issue under consideration is whether the Tribunal  was  justified in holding that provisions of section 69C of the Income Tax Act, 1961 are not applicable for assessee?

Section 201(3)(ii) Limitation not applicable to Non resident Assessee

July 10, 2020 2367 Views 0 comment Print

ITO Vs Bata India Ltd. (ITAT Kolkata) There is no dispute on the basic fact that the Assessing Officer’s order herein dated 10.06.2009 passed u/s 201(1A) r.w.s. 195 of the Act has raised interest payment in issue of ₹1,02,545/- for the reason that it failed to pay the TDS deducted on royalty payments to the […]

Cenvat Credit refund denial for Mere Non-Registration of Premises is unjustified

July 10, 2020 627 Views 0 comment Print

The issue under consideration is whether denial of a refund of Cenvat credit for mere non-registration of Premises is justified in law? learned Tribunal held that refund claimed by the Assessee on Cenvat Credit cannot be disallowed merely because the premises in question was not registered with the Revenue Department.

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