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ITAT Orders Re-adjudication on Section 80P(2)(e) for Agricultural Loan Deductions

March 15, 2024 633 Views 0 comment Print

Read about the ITAT Bangalore’s order directing re-adjudication on the deduction under Section 80P(2)(e) for agricultural loans provided by Savanoor Primary Agricultural Co-operative Society Ltd.

Lack of Legal Understanding & Consultant’s Technological Limitations: ITAT denied Condonation of delay

March 15, 2024 720 Views 0 comment Print

Read about the ITAT Mumbai ruling in Inderjit Singh Manchanda vs. CIT case, where the application for condonation of delay regarding penalty proceedings appeal was dismissed.

Personal hearing is mandatory before issuing Section 148A(d) orders: Kerala HC

March 15, 2024 1974 Views 0 comment Print

Kerala High Court affirms that personal hearing is mandatory before issuing orders under Section 148A(d) of the Income Tax Act.

LTCG Deemed Genuine: AO Fails to Prove Bogus Share Sale, Addition Deleted

March 15, 2024 1320 Views 0 comment Print

Read about the ITAT Ahmedabad ruling in Bharatkumar Gangaram Patel vs. ITO case, where the addition for unexplained LTCG on shares was deleted due to failure to establish bogus sale.

Sales value cannot be enhanced with GST without Adjusting Opening/Closing Stock and Purchases Valuation

March 15, 2024 1755 Views 0 comment Print

ITAT Mumbai concluded that the enhancement of the value of sales without corresponding adjustments to purchases was erroneous.

If Receipt Isn’t Taxable for Recipient, TDS Credit Can’t Be Denied: ITAT

March 15, 2024 1206 Views 0 comment Print

Dhirajlal Savailal Shah Vs ITO (ITAT Ahmedabad) If the receipt is not liable to tax in the hands of the recipient for any reason, the same cannot be a ground for not granting credit for TDS.

Section 11 exemption cannot be denied for delay in Audit Report (Form 12B) submission

March 15, 2024 1173 Views 0 comment Print

Learn about the ITAT Ahmedabad ruling in Karma Falya Trust vs. DCIT case, granting exemption under Section 11 of the Income Tax Act for delay in filing the audit report.

Kerala HC: Personal Hearing Required for IT Act Section 148A(d) Orders

March 15, 2024 741 Views 0 comment Print

Kerala High Court rules that personal hearing is mandatory before passing an order under Section 148A(d) of the Income Tax Act.

CESTAT Chennai sets aside confiscation of hand tools, deeming them capital goods under FTP

March 15, 2024 378 Views 0 comment Print

PS Bedi & Co Pvt. Ltd. vs. Commissioner of Customs case analyzed. CESTAT Chennai sets aside confiscation of hand tools, deeming them capital goods under FTP.

Test reports from laboratories without appropriate testing facilities is untenable for classification

March 15, 2024 888 Views 0 comment Print

Oasis Impex appeals CESTAT Ahmedabad’s reclassification of imported calcite powder. CESTAT rules against rejection without cogent reason. Details of the case explained.

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