CESTAT Bangalore’s ruling on Gelatin Mass Waste generated during manufacturing, addressing the demand for CENVAT credit reversal and its sustainability.
In a recent case, ITAT Bangalore deleted a Section 69B addition concerning gold jewelry, as holdings were in line with declarations and purchases.
ITAT Bangalore re-examines deduction under Section 80P(2)(a)(i) of the Income Tax Act for co-operative societies’ investments as per the Karnataka Co-operative Societies Act.
In the Ravindra R.V. vs. DCIT case, ITAT Bangalore remits the denial of HRA exemption under Section 10(13A) back to the AO for reconsideration due to lack of salary breakup.
ITAT Bangalore held that as income is estimated under section 44AD of the Income Tax Act, so addition under section 68/69A of the Income Tax Act is impermissible.
ITAT Bangalore held that as assessee has no right to receive the interest accrued on Fixed Deposits due to prohibitory order, the same is not taxable.
ITAT Bangalore held that denial of exemption under section 11 of the Income Tax Act unjustified as the primary activity of charitable trust is not run with profit motive. Accordingly, collection of money for micro financing in the form of interest on the loans advanced to the self help group members will not defeat the real object in order to deprive of the exemption.
ITAT Bangalore held that cooperative societies carrying on banking business when it pays interest to its members on deposits need not deduct tax at source in view of the provisions of Sec.194A(3)(v) of the Act.
ITAT Bangalore held that the payments made to gateway providers are not brokerage and TDS u/s. 194H of the Income Tax Act is not liable to be deducted.
Read detailed analysis of the case Practo Technologies Pvt. Ltd. vs. DCIT (ITAT Bangalore) where ITAT declared DRP directions invalid due to missing DIN.
