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 ...
Income Tax : Explore the intricacies of Income Tax Section 41, covering allowances, deductions, and financial transactions. Real-world examples...
Income Tax : Whether Remission Of Trading Liability Separately Taxable Where Income From Business Has Been Declared On Presumptive Basis U/S 44...
Income Tax : Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, i...
Income Tax : ISSUE FOR CONSIDERATION When a loan taken for acquiring a depreciable capital asset or a part of the purchase price of such capita...
Income Tax : The ITAT Delhi held that the Revenue could not substitute the assessee's consistent method of revenue recognition with the Percent...
Income Tax : The Tribunal held that interest under Section 244A must be computed up to the actual date of refund issuance. Restricting interest...
Income Tax : Adjustment under section 143(1)(a)(iv) based on disallowance reported in Form 3CD was held to be within CPC's jurisdiction. Howeve...
Income Tax : Tribunal held that deduction for bad debts is allowable in the year in which the debts are actually written off in the books of ac...
Income Tax : The ITAT Raipur held that additions for cessation of liability cannot be made merely because creditor confirmations were not filed...
Custom Duty : Stay updated with the latest amendment to the Sea Cargo Manifest and Transhipment Regulations, 2018 by the Central Board of Indire...
ITAT Kolkata partly allows Utpal Sarkar’s appeal against DCIT, addressing bogus sundry creditors and inter-unit transactions. Case remanded for further verification.
ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation and unexplained cash credits analyzed.
ITAT Kolkata upholds CIT(A)’s decision to delete ₹3.92 crore additions under Section 41(1), ruling no cessation of liabilities in AY 2014–15 for Shreekrishan Goswami.
ITAT Surat remands case to AO for verification of Rs. 15.71 Lakh liability under Section 41(1) due to lack of evidence of payment and TDS deduction.
Analysis of Saket Agarwal Vs ITO case (ITAT Jaipur), focusing on the Rs. 3.17 Cr addition of unproved creditors and assessment under Section 41(1).
Delhi High Court rules in Mukesh Udeshi vs Jindal Steel Power Ltd, emphasizing that only parties to arbitration proceedings can challenge an arbitral award.
ITAT Delhi rules against Section 41(1) addition when no cessation of liability occurs, directing cancellation of a demand in the case of Late Sh. Mahender Kumar Mittal vs. ITO.
Dive into the detailed analysis of Syama Prasad Mookerjee Port’s case against DCIT at ITAT Kolkata regarding Section 41(1) of the Income Tax Act. Understand why cessation of trading liability cannot be invoked without liability in books.
Lovy International challenged rejection of Drawback to ROSCTL conversion. CESTAT Delhi ruled CBEC Circular time limit invalid. Detailed analysis here.
Stay updated with the latest amendment to the Sea Cargo Manifest and Transhipment Regulations, 2018 by the Central Board of Indirect Taxes and Customs (CBIC)
