ITO Vs Mundela Service Cooperative Bank Ltd. (ITAT Cochin) Admittedly, the assessee is primary agricultural credit society registered under the Kerala Cooperative Societies Act, 1969. The Hon’ble High Court of Kerala in the case of Chirakkal Service Co-op Bank Ltd. (supra) had held that a primary agricultural credit society, registered under the Kerala Cooperative Societies […]
M/s. Housing Development & Infrastructure Limited Vs DCIT (ITAT Mumbai) Assessing Officer denied the claim of the assessee being write off of unrealized cost of TDR observing that details have not been furnished and the assessee has not explained why the unabsorbed cost was not claimed in the original return and claimed in the revised return. […]
Dive into the detailed analysis of the GST Appellate Authority ruling on Merit Hospitality’s service provision to SEZ employees. Learn about the implications and conclusions.
Devendraa P. Kapur Vs. ICAI & Others (Appellate Authority) The Appellant has also taken a ground of Appeal before us that the Disciplinary Committee has decided these cases in accordance with the law which was not prevalent when the alleged misconduct was committed but came into effect after the amendment made in the year 2006 […]
Kashi Bartan Bhandar Vs State of UP (Allahabad High Court) The notice under the CGST Act is required to be served in accordance with the provisions of Section 169 of the Act which provides that it can be served by giving or tendering it directly or by messenger to the person concerned or to a […]
Period of holding ESOP options transferred by the assessee in course of buy-back scheme of his employer was to be counted from the date of grant of ESOP option and date of vesting was not relevant as options were transferred without any exercise.
Model Properties Pvt. Ltd. Vs ACIT (ITAT Jaipur) The fact of showing this land in the books of account as stock in trade is not in dispute, however, the ld. CIT(A) has denied the claim on the ground that the assessee has not undertaken any activity which could lead to the inference that the assessee […]
Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding that the amount of Rs.1.69 Crores credited to the profit and loss account on account of securitization of lease rentals receivable in subsequent years is chargeable to tax in the assessment year 2002-03 ?.
ITAT Mumbai quashes CIT order reversing Ambuja Cements assessment, citing lack of scientific basis for provision of slow-moving inventory.
ITAT states that AO had made specific enquiry into loan transactions of assessee based on the CASS parameter. In response to enquiries made under section 133(6), loan creditors had filed their documents/details to substantiate/prove their identity(ies), creditworthiness and genuineness of the loan transactions. AO having examined all the details had not drawn any adverse inference against any loan creditors and did not follow a view ‘unsustainable in law’ and assessment order was not the result of non-application of mind or any inadequate enquiry, accordingly, invocation of jurisdiction under section 263 was untenable.
