Mukand Sumi Metal Processing Limited Vs PCIT (ITAT Mumbai) Provisions of section 56(2)(viib) invoked in the notice u/s. 263 by the ld. CIT is not applicable to the assessee company. As the assessee company was falling under section 2(18) of the Income Tax Act, 1961 being a company in which public are substantially interested. This […]
Saji S. Vs. Commissioner, State GST Department (Kerala High Court at Ernakulam) The petitioner, who is the consignee and transporter, insists that the consignor paid the tax and penalty under that only based on the ASTO’s directions. But the fact remains that the remittance must have been under the head ‘IGST’. So the authorities have […]
Proper officer was directed to duly complete the pending adjudication provided under section 129 of Kerala GST Act, 2017 and was also directed that if assessee had complied with rule 140(1) of the Kerala GST Rules, 2017, the goods detained shall be released to it.
Nekkanti Sea Foods Ltd Vs CIT (ITAT Hyderabad) It is settled position of law that the provisions of section 14A can be applied to quantify the expenses in relation to exempt income. Since the exempt income is Nil, section 14A will not apply. The Rule 8D can be applied only when there is difficulty in […]
CIT(A) has rightly quashed the assessment because the very foundation for issuance of notice under section 148 is the approval from the competent authority, i.e. Commissioner of Income Tax, and in the absence of such, such notice is void ab initio.
Hitech Outsourcing Services Vs CIT (Gujarat High Court) We have noticed that the Assessing Officer in teh original assessment proceedings had examined the assessee’s claim of deduction under section 10B of the Act. It is not as if such claim went unnoticed or unscrutinized. He wanted to be specific about the assessee’s claim for deduction […]
CIT Vs Society for Indian Automobile Manufactures (Delhi High Court) Ministry had sanctioned Rs.1,474.10 lacs ( including cost of land) for setting up Model Inspection & Certification Centres. The respondent/assessee was to execute this project for and on behalf of the Ministry. The amount received was in form of a financial sanction and not a […]
Once there was compliance to TDS provisions, even if there was short deduction of TDS or TDS had been deducted under different sections, there was no scope for AO to disallow expenditure under section 40(a)(ia) as provisions under section 40(a)(ia) is applicable only when there is no TDS deduction.
Deegee Software (P) Ltd. Vs ITO (ITAT Mumbai) As long as the ‘annual value’ of a property can be determined under 23, there would be no embargo, as regards claim of ‘interest on borrowed capital’ under section 24(b). Though a restriction as regards the quantum of deduction, is provided in the first proviso of section […]
Abhay Traders Vs. State of U.P. & Ors (Allahabad High Court) The goods of the petitioner in transportation along with the vehicle was seized under section 129 of the Uttar Pradesh Goods and Services Tax Act, 2017 on 2-6-2018 for the reason that they were not accompanied by the E-way bill. The submission of learned […]
