In a detailed analysis of Axis Bank Limited Vs ACIT case, Ahmedabad ITAT explains the difference between a Letter of Credit and Corporate Guarantee, resolving disallowance disputes.
Mumbai ITAT ruling exempts notional interest credited as per accounting standards from taxation, citing real income principle. Details of ACIT vs Kesar Terminals and Infrastructure Ltd.
Read the detailed analysis of Kanjula Rajagopal Reddy Firm vs. ITO case by ITAT Vishakhapatnam regarding TCS credit eligibility under Section 194Q without TDS shortfall.
HC held that According to Section 12 of Limitation Act, 1963, the day order was signed and the day judgment was pronounced should be excluded for calculation of limitation for Appeal Filing under GST.
Jharkhand High Court imposes penalty on JBVNL for unjust retention of Rs 2.9 crore, orders refund of TDS. Detailed analysis of Anvil Cables Pvt Ltd vs State of Jharkhand case.
ITAT Ahmedabad allows Interest expenses even if interest rate charged by the assessee on loans given was lower than the rate paid on loans taken, thus disallowing the excess interest paid. Tribunal held that the only requirement for claiming expenses under Section 57(iii) is that they must be incurred wholly and exclusively for the purpose of earning income from other sources.
Read about RD Enterprises vs Union of India where Allahabad High Court orders communication to State & Central authorities regarding the continuation of provisional attachment beyond one year under GST Section 83(2) of CGST Act, 2017.
Understand the verdict of Vishakhapatnam ITAT on unexplained cash deposits. Detailed analysis on taxpayer’s explanation, legal provisions, and conclusions.
Section 271D penalty proceeding cannot be initiated if AO fail to record his satisfaction before initiating penalty penalty proceeding in respect of violation of provisions of section 269SS of Income Tax Act, 1961.
Explore the Gujarat High Court judgment on reopening an NRI assessment, analyzing investments from NRE accounts and failure to file income returns. Detailed legal insights provided.
