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ITAT Bangalore: Tax Cash Deposit from Store Business at 8%

May 31, 2024 885 Views 0 comment Print

Read the detailed analysis of Smt. Kopparum Laxminarayan Kumuda vs ITO case by ITAT Bangalore. Learn why cash deposits were taxed at 8%.

Courier license cannot be revoked for Omission to Appoint Authorized Person for Courier Bill of Entry 

May 31, 2024 522 Views 0 comment Print

Discover the CESTAT Bangalore judgment on Pigeon International vs. Commissioner of Customs. Analysis of penalties, violations, and conclusions.

NCLAT Directs NCLT on CoC Reconstitution: Srei Equipment Finance Ltd. Vs Harsh Arora

May 31, 2024 549 Views 0 comment Print

NCLAT directs NCLT to decide on reconstitution of CoC after considering reply in Srei Equipment Finance Ltd. Vs Harsh Arora case. Full text of judgment included.

Expenditure on Leasehold Premises Disallowed by Kerala HC due to Lack of Explanation

May 31, 2024 771 Views 0 comment Print

Read the Kerala High Court judgment on Hotel Allied Trades Pvt. Ltd vs ACIT regarding expenditure on leasehold premises. Detailed analysis and implications included.

Same Methodology Must Be Applied for Valuing Opening & Closing Stock: Kerala HC

May 31, 2024 1452 Views 0 comment Print

Explore the detailed analysis of P. A. Jose Vs Union of India judgment by Kerala High Court regarding the valuation methodology for opening and closing stock. Understand the implications and legal aspects.

Only costs directly related to CIRP & approved by CoC can be classified as CIRP costs: NCLAT

May 31, 2024 2163 Views 0 comment Print

NCLAT Delhi rules on Avil Menezes’ appeal regarding CIRP costs in Sunil Hitech vs Abdul Qudduskhan case. Detailed analysis of fabrication and erection work claims.

Clandestine Removal Requires Corroborative Evidence: CESTAT Reduces Penalty

May 31, 2024 828 Views 0 comment Print

CESTAT Kolkata reduces penalty in Mittal Iron Foundry case, stating clandestine removal claims lack corroborative evidence.

Unconditional Withdrawal of SLP – Appeal Not Maintainable: Delhi HC

May 31, 2024 783 Views 0 comment Print

Delhi High Court dismisses appeal against IBBI, citing res judicata principle. Full text of judgment and analysis provided.

Bad Debts cannot be disallowed for mere absence of a money lending license

May 31, 2024 741 Views 0 comment Print

Learn why the absence of a money lending license doesn’t disallow bad debts. Explore the case of Moolchand Kiran Kumar Jain Vs DCIT (ITAT Chennai).

ITAT Upholds Share Premium Addition: Assessee Fails to Explain Transactions

May 31, 2024 573 Views 0 comment Print

Read the detailed analysis of ITAT Kolkata’s dismissal of Ideal Vyapaar Pvt Ltd appeal under section 68 of the Income Tax Act due to absence of explanation for transactions.

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