ITAT Rajkot held that denial of deduction under section 80P of the Income Tax Act on the allegation of non-filing of Return of Income within the due date prescribed under section 139(1) of the Income Tax Act is unjustified.
Delhi High Court held that the fee earned by the respondent/ assesse (M/s. Fish Poultry and Egg Marketing Committee) from regulating agricultural produce (which includes fish, poultry, and eggs) falls within the scope of Section 10(26AAB) of the Income Tax Act, 1961.
Madhya Pradesh High Court held that as petition under section 11(6) of the Arbitration and Conciliation Act, 1996 not maintainable as there was an agreement on procedure to be followed for appointing an arbitrator.
Akshata Realtors Pvt. Ltd. Vs ACIT (ITAT Raipur) ITAT held that the Approval granted by the JCIT, Range Central, Raipur under section 153D on ‘presumption’ basis without thoroughly going through the seized material, assessment records etc. as perfunctory, without application of mind, mechanical in nature hence, invalid, bad in law and liable to be quashed. […]
It was held that where an assessee claims deduction of interest paid on capital borrowed, assessee had to show that capital which was borrowed was used for business purpose in relevant year and it did not matter either capital was borrowed in order to acquire a revenue asset or a capital asset.
Sale of prepaid sim cards / recharge vouchers by the assessee to distributors cannot be treated as commission / discount to attract the provisions of section 194H of the Act and hence there cannot be any obligation on the part of the assessee to deduct tax at source thereon and consequentially there cannot be any disallowance u/s 40(a)(ia) of the Act.
CESTAT Ahmedabad held that as goods deposited in bonded warehouse for re-export from the said warehouse and shipping bills have also been filed for export, allegation of misdeclaration of goods cannot be sustained.
CESTAT Chennai held that benefit of notification no. 4/2006-CE dated 01.03.2006 not available to machine dipped match splints as power is used in the manufacture of match splints.
CESTAT Chennai held that tubular tower being parts of wind operated electricity generator is eligible for exemption under notification no. 06/2006-CE dated 01.03.2006.
In re Kalepsh Dineshbhai Patel (GST AAR Gujarat) The aforementioned application having been filed by M/s. Kalpesh Dineshbhai Patel and not by M/s. Khanepe Hungermall LLP who is the actual supplier and also having been filed without requisite fee, stands rejected in terms of section 98(2) of the CGST Act, 2017 read with sections 95(a), (c) […]
