Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Explore provisions under the Income-tax Act for computing business income, including various chargeable incomes and accounting met...
Income Tax : Explore the discussion between CA Micky and CA Mini on Sections 68 & 44AD of the Income Tax Act. Learn about unexplained cash cred...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Income Tax : Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand ...
Income Tax : The writ petitioner impugns the order dated 27 March 2018 in terms of which the respondent has come to reject applications filed b...
Custom Duty : CESTAT Delhi held that duty has to be paid when goods imported into an SEZ are not used for the authorised operations but are sold...
Custom Duty : Disha Realcon and SM Niryat had exported iron ore fines whose Fe content was below 58% under some Shipping Bills and iron ore fine...
Income Tax : ITAT Ahmedabad held that where Commissioner (Appeals) passed ex-parte order in violation of principles of natural justice, one mor...
Custom Duty : CESTAT Kolkata held that owner of the car is liable to pay customs duty on redemption of the confiscated vehicle/ car even if the ...
CESTAT Delhi held that re-valuation of goods without first rejecting the transaction value of the goods is not in accordance with law. Show cause notice without proposal of rejection of transaction value or demanding differential duty is both speculative and presumptive.
ITAT Delhi held that if the appeal is adjudicated on merits, then, refusing to condone the delay in filing of an appeal is an error. Action of refusing to condone the delay, but, to dispose off the appeal on merit is untenable in law.
ITAT Kolkata held that education cess and Secondary and higher Secondary Education cess being part of the tax is not allowable as deduction.
CESTAT Mumbai held that rejecting exemption benefit and duty demand u/s 28 of Customs Act, 1962 by reassessing ‘cameras’ under general and residual description i.e. ‘others’ under 8525 8090 instead of declared specified classification i.e. 8525 8020 is unjustified.
CESTAT Ahmedabad held that the benefit of exemption Notification No. 102/2007 cannot be denied merely because the imported goods were of logs whereas the same were sawn and sold in DTA.
ITAT Jaipur held that officers of DRI are not proper officers for the purposes of Section 28 of Customs Act, 1962 and hence order and show cause notice are not maintainable. Accordingly, addition confirmed thereon is unsustainable.
ITAT Delhi held that royalty payment and R&D cess on royalty is interlinked. As royalty payment is allowed as revenue expenditure, R&D cess is also allowable as revenue expenditure.
ITAT Pune held that interest granted by the reference Court u/s. 28 of the Land Acquisition Act from the date of possession of land till the date of judgment of High Court is an accretion of the value of the land acquired and accordingly not taxable.
Provisions of section 28 of Income Tax Act, 1961 specify income chargeable to income tax under ‘Profits and gains of business or profession’.
In present facts of the case, the Honble Delhi High Court held that the pre-show cause notice consultation is mandatory under Section 28 of the Customs Act, 1962
