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 : Explore the implications of the recent Income Tax amendment to Section 43B affecting MSMEs. Understand how timely payments are cru...
Income Tax : Explore key income tax compliance requirements for charitable and educational institutions under the Income Tax Act for the assess...
Income Tax : Discover simplified taxation scheme under Section 44AD of Income Tax Act. Learn eligibility criteria, exemptions, and key insights...
Income Tax : The ITAT Bangalore ruled that income tax additions can't be based solely on unsubstantiated loose slips, emphasizing the need for ...
Income Tax : ITAT held that time limit for filing rectification applications starts only when assessee is aware of order passed, not from date ...
Income Tax : Analysis of Om Prakash Vs PCIT (ITAT Delhi) case reveals PCIT's jurisdiction limitations on tax issues under Land Acquisition Act ...
Income Tax : Explore the detailed analysis of Jai Parkash Vs PCIT (ITAT Delhi) case where the assessment jurisdiction dispute regarding interes...
Goods and Services Tax : Allahabad High Court held that penalty under Section 54(1)(2) of the U.P. VAT Act, 2008 cannot be imposed in cases, wherein, the a...
CESTAT Ahmedabad held that as appellant has not exited from Special Economic Zone (SEZ), they are not eligible for clearing capital goods under the prevalent Export Promotion Capital Goods Scheme (EPCG Scheme).
Discover simplified taxation scheme under Section 44AD of Income Tax Act. Learn eligibility criteria, exemptions, and key insights into this taxpayer-friendly approach.
CESTAT Chennai upholds the demand of concession availed vide customs notification on failure of appellant to maintain proper accountal of the receipt of imported goods till their utilization in the manufacture of the specified finished products.
Analyzing the S R Traders vs. Commissioner of Customs case under Customs Act Section 28, including undervaluation and compliance issues with cosmetics imports.
ITAT Delhi held that addition by invoking provisions of section 41(1) of the Income Tax Act unjustified as liability reflected as outstanding in books of accounts and there is no evidence that such liability has ceased during the year.
ITAT Mumbai held that that loss arising due to embezzlement by the employees should be treated as incidental to the business such loss so suffered is allowable as deduction under section 28 of the Income Tax Act.
Bombay High Court held that attachment of saving bank account and detention of goods in absence of duty demand without service of notice is also without jurisdiction and without any authority of law.
ITAT Delhi held that addition under section 69C of the Income Tax Act towards unexplained expenditure based on dumb documents not sustainable in law.
CESTAT Ahmedabad held that without advancing reasons for doubting or rejecting the load port test certificate, there was no real justification for resort to provisional assessment and drawing of samples. Accordingly, customs duty exemption granted.
ITAT Rajkot held that invocation of revisionary jurisdiction u/s 263 non-invocation of section 115BBE of the Act on the addition made on account of unexplained sundry creditors u/s. 68 of the Act is duly justifiable.
