Rajendra Kumar Mishra vs. ACIT case: ITAT Kolkata directs re-evaluation as AO misinterpreted PCIT’s orders on loan payments.
Ravi Chitra Vs Assistant Commissioner: Madras HC mandates proof of goods movement in ITC dispute. Full judgment & analysis here.
Detailed analysis of ITAT Kolkata’s ruling in La Opala RG Ltd. vs DCIT, covering disallowance of forward contract loss and foreign exchange loss, with expert commentary.
Delhi HC overturned a GST demand order due to officer’s failure to consider taxpayer’s detailed reply and remitted case for re-adjudication, granting petitioner an opportunity to provide further clarification.
Read the detailed analysis of ITAT Delhi’s order regarding capital gains earned from the sale of CCL International shares. ITAT deemed the gains genuine, deleting the addition under section 69 of the Income Tax Act.
ITAT noted that company’s primary objective was providing IT services, not letting out properties. Therefore, it upheld Assessing Officer’s decision to treat rental income as income from house property and disallow depreciation claimed by company.
Appellant contended that since he had filed income tax returns under section 44AD of the Act, which does not require maintenance of books of account, section 69A was not applicable.
Rejection of grant under Section 80G merely on procedural lapse by making application under Section 80G(5)(ii) inadvertently instead of Section 80G(5)(iii) by assessee is not acceptable: ITAT Ahmedabad
Delhi High Court directs Directorate of Revenue Intelligence to consider and dispose of the application for release of gold bars seized over alleged lack of invoices within two weeks.
Bombay High Court ruling states that capital gain tax is not applicable on the transfer of shares as a gift. Detailed analysis and judgment explanation provided.
