It thus held that the limits that the Board could prescribe would only apply to an initial or an ordinary annual contribution. Any contribution made additionally in discharge of an overarching obligation would thus not be rendered as a disallowable expense.
ITAT Kolkata clarifies Section 14A disallowance limits, deletes notional income addition for unsold flats (AY 2014-15), and remands interest expense and unexplained expense issues.
Madras High Court remands GST assessment case, allowing Jainsons Castors to submit objections after depositing 25% of the disputed tax.
Allahabad HC rules that ITC claims cannot be denied solely due to missing GSTN in supplier certificates, directing a fresh review of the case.
ITAT Raipur permits assessee to withdraw a duplicate tax appeal filed due to a technical error, dismissing the case as withdrawn.
ITAT Bangalore remands case concerning cash deposits during demonetization, directing the AO to re-assess the addition u/s 69A after considering CBDT circulars and granting the assessee a fair hearing.
ITAT Delhi dismisses Revenue’s appeal in ACIT vs Hindukush Construction Pvt. Ltd. (AY 2016-17) due to low tax effect under CBDT Circular No. 09/2024.
CESTAT Mumbai sets aside an order adding royalty to import valuation, citing jurisdictional issues and lack of finalized assessments. The tribunal emphasizes the need for proper determination of duties under the Customs Act.
ITAT Mumbai allows Hotel Deepak’s appeal, holding that a survey statement u/s 133A can’t be the sole basis for income addition when discrepancies exist and expenses are substantiated. The tribunal cites a prior similar ruling.
In the matter aforementioned ITAT deleted addition made on account of Client Code Modification after observing that assessee utilized its own funds to conduct transactions on NSEL platform and the profits from such transactions have already been offered to tax.
