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Cost of funds for earning interest income, assessed under section 56 is allowable

February 20, 2024 1095 Views 0 comment Print

Dive into the ITAT Bangalore judgment – Deepa Credit Co-op vs ITO. Learn about interest income, deduction claims, and the impact on the Assessment Year 2017-18.

Gujarat HC Grants Bail in Rs. 67.72 Crore GST Fraud Case

February 20, 2024 1428 Views 0 comment Print

Gujarat High Court grants regular bail in alleged GST fraud of Rs. 67.72 Crores case, highlighting key legal considerations and accused’s rights.

Section 148 lacks allegations of non-disclosure; jurisdiction assumption U/s. 147 is invalid

February 20, 2024 765 Views 0 comment Print

Delhi High Court finds Section 148 notice flawed due to lack of non-disclosure allegations; declares Section 147 jurisdiction assumption invalid.

Section 43B doesn’t apply to service tax not routed through P&L

February 20, 2024 2904 Views 0 comment Print

Explore the ITAT Delhis decision on the disallowance of service tax by ACIT in the case of S & A Finman Ltd. for the assessment year 2012-13. The article provides insights into the legal arguments and precedents.

ITAT deletes addition for Long Term Capital Gain from shares of Pine Animation Ltd.

February 20, 2024 1773 Views 0 comment Print

Delve into the detailed analysis of the ITAT Mumbai ruling in ACIT Vs Priyanka Ankit Miglani case regarding long-term capital gains from share sales and the application of Section 10(38) of the Income Tax Act.

Proviso to Section 56(2)(vii)(b): Stamp Duty Value on Date of Agreement applies

February 19, 2024 6612 Views 0 comment Print

Explore the details of Shyamkumar Madhavdas Chugh Vs ACIT case at ITAT Delhi. Analysis of additions, considerations, and legal perspectives leading to the verdict.

Section 276C(2): Prosecution for Wilful Tax Evasion, Not for Tax Non-payment

February 19, 2024 8286 Views 0 comment Print

Explore the legal distinction between willful tax evasion under Section 276C(2) and mere failure to pay, including judicial insights and case analysis.

T4 & K200 Time Attendance Systems classifiable under Chapter 8543

February 19, 2024 954 Views 0 comment Print

Enterprise Software Solutions Lab Vs Commissioner of Customs (CESTAT Bangalore) Introduction: The case of Enterprise Software Solutions Lab Ltd. vs. Commissioner of Customs, adjudicated by CESTAT Bangalore, revolves around the classification of T4 Fingerprint Time & Attendance System and K200 Proximity Time & Attendance System. The appellant, based in Bangalore, contested the assessing authority’s classification […]

Kerala HC: Detention of Goods lawful, compliance with GST Rule 138A upheld

February 19, 2024 1041 Views 0 comment Print

Kerala High Court rules on Carpenters Classics India Pvt. Ltd. vs. Assistant State Tax Officer case, discussing compliance with GST Act Section 129 for goods detention.

Discrepancies in initial assessment: Madras HC Orders Fresh Tax Assessment

February 19, 2024 885 Views 0 comment Print

Madras High Court remands for a new tax assessment order, directing fair hearing and consideration of all documents by the National Faceless Assessment Centre.

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