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Judiciary

Section 292BB cannot cure defect in notice to deceased assessee  

June 9, 2024 513 Views 0 comment Print

Read the detailed analysis of Late Lodaya Navalbai Vs ITO case by ITAT Bangalore. Learn why the reassessment proceedings were quashed and its implications.

Voluntary Compensation in lieu of ESOP Not Part of Salary: Delhi HC in Flipkart-Phonepe Case

June 9, 2024 26757 Views 3 comments Print

In the case of Sanjay Baweja Vs DCIT, the Delhi High Court ruled that one-time payments in lieu of ESOPs do not constitute salary under Section 17 of the Income Tax Act.

Delay in SFT-005 Filing: Excuse of Server Issue Rejected by ITAT

June 9, 2024 288 Views 0 comment Print

Read about the case of Waghodia Urban Co. Op. Bank Limited vs. Director of Income Tax regarding a penalty levied under Section 271FA for delay in filing SFT-005, where the excuse of server issue was dismissed.

ITAT deletes Section 271(1)(c) penalty for Non-application of mind

June 9, 2024 588 Views 0 comment Print

Read the detailed analysis of ITAT Ahmedabad’s order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner status and lack of concealment discussed.

No Income arises due to Transfers of amount from Current to Deposit Account

June 9, 2024 339 Views 0 comment Print

ITAT Chennai’s order regarding the transfer from current to deposit account as non-income, and deletion of addition. Full text of the order provided.

DGGI Officer empowered to issue SCN: Madras HC

June 9, 2024 666 Views 0 comment Print

Read the Madras High Court ruling on Famina Shopping Mall case. Learn why DGGI officer is deemed proper for Show Cause Notice issuance.

Classification of Roasted Areca Nuts and Cashew Nuts: CAAR Mumbai

June 8, 2024 1404 Views 0 comment Print

Delve into the detailed analysis of the classification of oven-roasted areca nuts and salted cashew nuts as per the Customs Tariff Act in this insightful article based on the order of Customs Authority of Advance Ruling, Mumbai.

TCS reported as payable in Audit Report cannot be added back to income u/s 43B

June 8, 2024 1401 Views 0 comment Print

ITAT Amritsar decision on Aay Kay Manufacturing Co. Vs ITO-CPC discusses TCS payable and Section 43B compliance, offering key insights for taxpayers.

IGST credit reversal not required when credit is wrongly claimed instead of CGST & SGST

June 7, 2024 16302 Views 0 comment Print

Calcutta HC rules IGST credit wrongly claimed instead of CGST and SGST need not be reversed. Key details on the Cosyn Limited case inside.

Delhi HC Modifies Retrospective GST Cancellation Order

June 7, 2024 321 Views 0 comment Print

The Delhi High Court modified an order canceling GST registration retrospectively, citing lack of cogent reasons and procedural lapses. Read the full judgment.

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