Income Tax : Learn about disallowed expenses under PGBP in India's Income Tax Act. Understand key sections like 37, 40, and 40A, and their impa...
Income Tax : Delhi HC rules reimbursements to NRAEs not subject to TDS as "fees for technical services," clarifying scope of Section 9(1)(vii) ...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Corporate Law : Discover the process and types of trademark assignment. Learn about procedures, required documents, and benefits for a smooth tran...
Goods and Services Tax : Explore the critical implications of Section 16(4) of the CGST Act, 2017 on taxpayers' Input Tax Credit (ITC) eligibility and the ...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Allowability of Interest paid under Incometax Act, 1961: Presently, interest paid by the Government to an assessee is chargeable t...
Income Tax : ITAT Delhi held that provision of section 43A of the Income Tax Act not invocable when there is only reinstatement of fluctuation ...
Income Tax : The assessee is engaged in the business of Manufacturing & Trading of Sarees, Salwar Suites and Dress Materials. A survey u/s 133A...
Custom Duty : Delhi High Court held that the unlocking/activation of the mobile phone merely makes the mobile phone more usable in the destinati...
Income Tax : A search and seizure action u/s.132 of the Act was conducted in the assessee's case on 14.11.2019. AO observed that during the cou...
Income Tax : In the matter abovementioned ITAT deleted addition made on account of expenditure incurred for initial public offering (IPO) which...
The assessee is a contractor who is involved in the construction of roads, bridges, runways and tunnels etc. The assessee is also engaged in the business of operating petrol bunks, cinema theatres and manufacture of blue metals and ready-mix concrete.
ITAT Ahmedabad held that deduction under Section 80-IB/80-IE of the Income Tax Act disallowed on loan to employees and bank deposits as such interest income is not income derived from industrial undertaking.
As per AO, Shri Birat Chandra Dagara was one of the partner of the assessee firm and had owned the mining lease and submitted the details as per which the assessee was found indulged in the illegal production of iron ore.
Volvo Group India Pvt Ltd. Vs Union of India (Bombay High Court) Conclusion: The order of the original authority becomes merged with the order of the Revisionary Authority. Since the Revisionary Authority was located within the territorial jurisdiction of the Principal Seat of this Court, assessee had the option to file the petitions here or […]
Learn about disallowed expenses under PGBP in India’s Income Tax Act. Understand key sections like 37, 40, and 40A, and their impact on business deductions.
During the course of search/survey operations, it was noticed that the assessee has paid labour charges to three concerns. Post investigation, AO came to the conclusion that the labour charges paid to the concerns were also not genuine.
Gauhati High Court held that Explanation inserted to section 14A vide the Finance Act, 2022 is applicable prospectively and order holding that the said insertion is clarificatory and hence retrospective in nature is erroneous.
Vide the present appeal, the assessee has challenged only two issues regarding disallowance of Rs. 1,99,291 towards motor car & Rs.29,345 on motor bikes; and adhoc disallowance towards salary, rent, machine charges & bonus.
Section 37 of the Maharashtra Value Added Tax Act, 2002 ( MVAT Act ) and Section 33 of the Madhya Pradesh Value Added Tax Act, 2002 (“MPVAT Act”) are not pari materia with Section 48 of the Gujarat Value Added Tax Act, 2003 ( GVAT Act ).
ITAT Mumbai held that adoption of value of land as determined by the Stamp Duty Authority without referring the valuation to Valuation Officer u/s. 50C of the Income Tax Act unjustified. Accordingly, matter restored for de novo adjudication.
