ITAT Chennai held that as the quantum of addition has not attained its finality, the penalty levied under section 270A of the Income Tax Act not imposable.
HC permitted assessee to rectify error of mentioning B2C instead of B2B in Form GSTR-1 at the time of filing of returns, holding that assessee would be prejudiced if it is not allowed to avail benefits of ITC
Delhi High Court held that amount payable under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 ( SVLDRS ) cannot be more than the amount confirmed vide Order-In-Original.
ITAT Mumbai held that mere presumption that plots are intended for further sale and hence plots were stock-in-trade does not make the claim satisfying as the assessee failed to prove the same by way of evidences.
ITAT Pune held that mere non-furnishing of declaration to the bank in terms of proviso to rule 37BA(2) of the Income Tax Rules, the amount of tax deducted at source on interest on bank deposit cannot be disallowed while clubbing of the income.
CESTAT Delhi held that denial of Cenvat credit on input services such as Car hire charges, Insurance charges, Travel expenses and Staff welfare expenses is not legally maintainable in terms of Rule 2 (1) of CCR, 2004.
ITAT Ahmedabad held that entire receipts on account of on-money-premium charged would not to be treated as the undisclosed income but only net profit rate could be applied on unaccounted sales/receipt for the purpose of making addition.
CESTAT Chennai held that refund is not hit by unjust enrichment as chartered accountant certificate duly furnished satisfying that the duty has not been passed on.
ITAT Mumbai held that purchase of residential property within specified period of one year before the sale of capital asset (commercial property) is allowable as exemption under section 54F of the Income Tax Act 1961.
CIT Vs Machino Techno Sales Ltd. (Calcutta High Court) Whether area sharing by the land owner is eligible to be treated as capital gains in a development agreement and not business income? The division bench of Calcutta high court in this case was considering appeal of department where the ITAT Kolkata benches held that the […]
