In a landmark decision, CESTAT Hyderabad rules in favor of CISF, stating reimbursements aren’t taxable, citing precedents. Detailed analysis here.
Delhi HC directs AO to reconsider the 20% pre-deposit mandate for stay in recovery proceedings, highlighting CBDT instructions. Case: Centre for Policy Research vs DCIT.
ITAT Kolkata deletes Rs. 57.5 crore addition in ITO vs. Umang Trading Pvt. Ltd., affirming equity investments and explaining source of funds.
In a landmark ruling, ITAT Mumbai provides relief to Shell IT, asserting that payments for IT support aren’t considered FTS under India-Netherlands DTAA.
DCIT Vs J. K. Techno soft Ltd (ITAT Delhi) Conclusion: Forward mark contracts on foreign currency was incurred during the normal course of business and the losses incurred were the part and parcel of the business activity of assessee, which were allowable as business expenditure and not speculative in nature, thus any expenditure incurred for […]
Uttarakhand High Court rules in favor of Subhash Singh, modifying assessment orders and rejecting denial of ITC due to supplier’s failure to file returns and pay taxes.
Rajasthan High Court rules that a writ petition against an assessment order is not maintainable if the appeal remedy is not availed within the limitation period.
Delhi High Court refuses interim relief against NFRA penalties imposed on CAs and CA firm in the Reliance Capital audit lapses case. Detailed analysis of the judgment provided.
Since, appellant company is a sick industrial company for impugned assessment year, any profit derived from said industrial companies can be deducted while computing book profit.
In Embio Limited vs. Director General of Foreign Trade, the Supreme Court sets aside a penalty under Section 11(2) of the Foreign Trade Act, ruling in favor of the appellant.
