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Section 263 cannot be invoked based on incorrect understanding / appreciation of facts

April 3, 2024 369 Views 0 comment Print

Analysis of Kishorkumar Bhalara Vs PCIT (ITAT Rajkot) case, where the ITAT ruled that incorrect assumption of facts alone is not sufficient to revoke jurisdiction under Section 263.

Advance from Customers Not Section 68 Income; Powers of CIT(A) Parallel to AO’s

April 3, 2024 636 Views 0 comment Print

In the case of ITO Vs Raj Maitry & Eskon Developer, ITAT Mumbai decides advance received from customers isn’t income under section 68. Detailed analysis of the ruling.

No Section 270A Penalty if No Misreporting or Underreporting by Assessee

April 3, 2024 1617 Views 0 comment Print

Detailed analysis of Mahendra N. Patel Vs DCIT case where ITAT Ahmedabad nullifies penalty due to absence of misreporting or underreporting by the assessee.

Transfer Pricing: Comparing New Assessees with Established Businesses is Inappropriate

April 3, 2024 381 Views 0 comment Print

Learn from PCIT Vs Radhashir Jewellery Co. Pvt Ltd. case why comparing new and established businesses in transfer pricing is inappropriate. Detailed analysis provided.

MoU & Ledger Extract Insufficient for admitting Financial Debt: NCLAT

April 3, 2024 573 Views 0 comment Print

In a case between D S Kulkarni & Associates and Manoj Kumar Aggarwal, NCLAT Delhi ruled that mere MoU & Ledger Extract are inadequate to claim financial debt, rejecting the appeal.

MIKO II Classification: Automatic Data Processing Machine vs. Plastic Toy

April 2, 2024 282 Views 0 comment Print

Learn about the customs duty dispute over MIKO II’s classification. Analysis reveals its advanced technology warrants ‘automatic data processing machine’ status.

Order Rejecting GST Registration Cancellation Lacks Details, Cannot be Sustained: Delhi HC

April 2, 2024 432 Views 0 comment Print

Delhi High Court rules GST registration to be cancelled from the date of application, overturning rejection due to lack of details in the order.

Support services for procurement of goods for exports is not intermediary’ service 

April 2, 2024 651 Views 1 comment Print

SNQS International Socks Private Limited Vs Commissioner of G.S.T. and Central Excise (CESTAT Chennai) In the complex landscape of taxation and regulatory compliance, the classification of services plays a crucial role in determining the tax liabilities of businesses. The case of SNQS International Socks Pvt. Ltd. vs Commissioner of GST delves into this intricate issue, […]

AP HC Directs Municipal Corporation to consider Property Tax Penalty waiver application

April 2, 2024 210 Views 0 comment Print

Andhra Pradesh High Court instructs Municipal Corporation to address representation for waiver of penal amount on property tax arrears, setting a deadline for application.

For delay condonation Commissioner need to consider online GST Appeal filing date 

April 2, 2024 885 Views 0 comment Print

White Mountain Trading Pvt. Ltd. Vs Additional Commissioner (Delhi High Court) For delay condonation Commissioner need to take online GST Appeal filing date not the date date when petitioner physically filed the appeal after online filing  

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