ITAT Ahmedabad upheld decision of CIT(A), ruling in favor of Nirma Limited. The nature of payments for vessel damage was deemed as reimbursement and capital in nature, not falling under Section 5(2) of the Act. The appeal by Revenue was dismissed, affirming the cancellation of TDS deduction on the payment of USD 4,50,000.
Read the full judgment as Delhi High Court orders Customs Commissioner to release remaining amount after realizing redemption fine and penalty from seized foreign currency.
Read the full judgment as Madras High Court rules on the computation of the refund period under CGST Act, emphasizing the date of receipt in convertible foreign exchange.
The appeal challenges the order dated 14th June 2023, passed under section 250 of the Income Tax Act, 1961. The primary issue revolves around the addition of Rs.3,00,00,000/- as unexplained cash credit on account of unsecured loans.
Madras High Court ruling on GST registration cancellation. Detailed analysis of V.S.K. Traders & Services case, the importance of due process, and the impact on businesses.
A pivotal ruling affirming ITAT’s stance on mutual funds transactions as investments and capital contributions not deemed as dividend under Section 2(22)(e) of the Income-tax Act for AY 2006-07.
Read the Calcutta High Court’s judgment on Sauryajyoti Renewables Pvt Ltd vs. State of West Bengal. Swift investigation needed for misuse of DSC in filing false GST returns. Full text available.
Explore the ITAT Mumbai’s remand of Nitin Amratlal Brahmbhatt’s case against ACIT-24(3) on the assessment order under Income Tax Act. Fair opportunity of hearing mandated.
Read the full text of the judgment from Madras High Court on G.K. Reddy’s case against DCIT. Court rules pension cannot be attached for income tax demands, sets conditions.
Read the full text of ITAT Hyderabad’s order in Pennar Industries Ltd vs DCIT case for A.Y.2018-19. Unbilled revenue cannot be considered income once written off.
