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Despite Duty Payment Under Protest cannot be treated as acceptance of re-assessment

May 27, 2024 300 Views 0 comment Print

CESTAT Bangalore directs re-adjudication rejecting appeals on classification of imported insoluble sulphur. Detailed analysis and implications discussed.

ITAT deletes addition for cash deposit linked to Sale of Property

May 27, 2024 6021 Views 0 comment Print

ITAT Chennai deletes Rs. 16.8 lakhs addition, finding no evidence to prove properties sold by taxpayer were agricultural land in D. Ramagopal Vs ACIT case.

Customs Permission for De-bonding Burnt Capital Goods Precludes Extended Limitation

May 27, 2024 183 Views 0 comment Print

CESTAT Bangalore rules on Mineral Enterprises Ltd. case, emphasizing no extended limitation for de-bonding burnt goods amid riots. Detailed analysis inside.

Only profit element embedded in bogus purchases should be added to income

May 27, 2024 3834 Views 0 comment Print

In the case of Sangam Wires Vs ITO, ITAT Hyderabad directed AO to restrict addition of Rs. 16.8 crores as bogus purchases, focusing on the profit embedded amount. Get insights here.

AO Cannot Reject claim of Cash Deposit Against Withdrawals Based on Assumption: ITAT Kolkata

May 27, 2024 864 Views 0 comment Print

Explore the ITAT Kolkata ruling on Sunil Khaitan Vs DCIT, delving into the adequacy of fund sources under Section 68 of the Income Tax Act.

Section 115BBDA Does Not Apply to Domestic Companies: ITAT Hyderabad

May 27, 2024 420 Views 0 comment Print

ITAT Hyderabad rules Section 115BBDA of the Income Tax Act does not apply to domestic companies, deleting the addition made by the Income Tax Officer.

Section 154(1A): AO cannot rectify any matter already decided in Appeal proceeding

May 27, 2024 615 Views 0 comment Print

Discover the ITAT Delhi ruling in Anurag Singh vs. ITO, where it was decided that AO cannot rectify issues already settled by CIT(A). Full case analysis and implications.

Finance Act 1994 Limitation Prevails Over Limitation Act: Allahabad HC

May 27, 2024 357 Views 0 comment Print

Analysis of Allahabad High Court judgment on limitation period prescribed in special statutes versus the Limitation Act.

Land Purchased but Agreement Not Registered: Section 11(1) Exemption eligibility- Professed vs. Real Intention

May 27, 2024 591 Views 0 comment Print

Read the detailed order by ITAT Bangalore regarding Samaja Seva Mandali vs. ITO. Assessing real intentions of trust in land purchase for school building construction.

Misdeclaration of goods to claim ineligible drawback CESTAT Upholds Penalty 

May 27, 2024 180 Views 0 comment Print

CESTAT Delhi upheld penalties on Jayant Vikram for misdeclaration of goods to claim ineligible drawback. Detailed analysis of the case and legal implications.

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