Income Tax : PGBP governs the computation of business and professional income. It defines chargeable income (Sec. 28, 41) including statutory a...
Goods and Services Tax : Learn about the scope of GST on commission income. Understand the invoice test, registration thresholds, and key rulings that clar...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
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 : Consistency over technicalities: ITAT Mumbai allowed actuarial pension provision as an ascertained liability, rejected mechanical ...
Service Tax : Extended period of limitation could not be invoked in the absence of fraud, suppression or wilful misstatement with intent to evad...
Custom Duty : The case addressed whether a custodian could be held liable for duty when container contents differed from declared goods. The Tri...
Income Tax : ITAT Bangalore held that interest on bank deposits from operational funds of a co-operative credit society is eligible for deducti...
Income Tax : The Tribunal held that omission of taxable foreign exchange gain in the return attracts penalty. It noted that disclosure during a...
CESTAT Mumbai held that rendering a decision on goods that are yet to be provisionally assessed would be a premature intervention. The possible detriment that may arise on a future date is not a grievance that should be entertained unless and until it does translate as one upon occurrence of import or export of goods.
CESTAT Ahmedabad grants relief to Intas Pharmaceuticals, ruling that Customs Duty benefit cannot be denied to a loan licensee importer. Details of the case here.
Dive into the Narayan Sharma vs. Commissioner of Customs case at CESTAT Chandigarh, involving the absolute confiscation of smuggled gold. Learn about the facts, statements, and documentary evidence leading to the decision.
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 Jaipur held that penalty under section 271B of the Income Tax Act not leviable as the assessee is eligible to avail the benefit of presumptive taxation up to Rs. 2 Crores as per section 44D of the Income Tax Act.
CESTAT Ahmedabad held that in case of production of a new retail sale price, duty is to be calculated on pro-rata basis, in the present case only four days, when the production has taken place.
Gujarat High Court held that the role of the applicant’s firm in Gujarat State Land Development Corporation (GSLDC Scam) was very limited and was not actually connected with the field work and only to the extent the audit of vouchers and records.
CESTAT Mumbai held that confiscation of imported rough diamonds unjustified as if the Kimberly Process Certification was suspected to be faulty the verification should have been initiated with issuing authority.
ITAT Hyderabad held that donations given for compliance with Corporate Social Responsibility (CSR) u/s. 135 of Companies Act to institutions mentioned in Section 80G are qualified for deduction u/s. 80G of the Income Tax Act.
NCLT Kolkata held that application filed by resolution professional of BKM Industries Limited (Corporate Debtor) for approval of resolution plan stand approved.
