Explore the ITAT Bangalore verdict on how the statutory deadline for filing returns affects eligibility for deductions under Section 80P, highlighting the case of Madhu Souharda Pathina Sahakari Niyamitha vs ITO.
ITAT Pune directs reconsideration of trust registration under Section 12AA, emphasizing compliance with welfare legislation principles and natural justice.
Madras High Court rules in favor of condoning delay in GST appeal filing upon receiving a recovery notice, emphasizing the importance of taxpayer rights.
NCLT Hyderabad approves B&B Global Enterprises’ resolution plan for NSL Mining Resources, emphasizing compliance with IBC regulations and stakeholders’ benefits.
ITAT Ahmedabad rules in favor of J.K. Patel & Brothers, allowing sales expenditure deduction for unusable jute bags, highlighting tax implications and legal compliance.
ITAT Ahmedabad dismisses Haresh Acids and Chemicals Pvt Ltd’s appeal, rejecting deduction under Section 35(1)(ii) for bogus donation bills, emphasizing legal compliance.
ITAT Delhi dismisses Revenue’s appeal, confirming that share premium from a holding company’s equity shares does not fall under Section 56(2)(viib) of the Income Tax Act.
Karnataka High Court clarifies that holding shares in a subsidiary doesn’t constitute a ‘supply of service’ under GST, impacting the Yonex India case.
ITAT Rajkot rules in favor of Conor Granito P. Ltd., setting a justifiable net profit rate on unaccounted sales based on business nature, dismissing Revenue’s appeal for a higher rate.
ITAT Ahmedabad rules in favor of Kapilaben Patel, deleting the penalty under Section 271(1)(C) for undisclosed income, highlighting voluntary disclosure’s importance.
