Income from undisclosed sources–Addition under section 68–No documentary evidences- As assessee failed to substantiate gift transaction with supportive evidences, AO was justified in making addition under section 68.
Explore the Apar Mukhya Adhikari vs ITO case involving TCS on Tahbazari. Section 206C(1C) scrutiny, tribunal ruling, and key legal insights discussed. Full text included.
CIT Vs M/s. Radaan Media Works (Madras High Court) Department fairly admitted that the brand equity of a sum of Rs.75 lakhs valued at a sum of Rs.75 lakhs would be an intangible right coming within the purview of ‘business or commercial rights’ of a similar nature. He also brought to our notice the decision of this High Court […]
Shri.Ram Karan Yadav Vs ITO (ITAT Jaipur) There is no dispute that the assessee has purchased the JCB machine vide Invoice dated 3rd June, 2011 and delivery was taken on 6th June, 2011. However, the registration of JCB with the RTO was done on 29.08.2011. We further note that in the registration charges, the RTO […]
During the course of assessment, the assessing authority has alleged that the petitioner is not eligible to claim any input tax credit as the goods purchased by the petitioner on which input tax credit is claimed are not resold within a period of six months from the date of purchase. Such allegation was raised based on the special provision contained in Rule 53(6)(b) of the MVAT Rules, 2005.
In re Enexio Power Cooling Solutions Private Limited (GST AAR Andhra Pradesh) Whether the Air-Cooled condenser to be supplied by the applicant to the buyer for use in the waste-to-energy project is classifiable as ‘parts for the manufacture of waste to energy plants/devices’, attracting 5% IGST or 2.5% CGST and 2.5% APGST? As per the […]
In re Srivet Hatcheries (GST AAR Andhra Pradesh) Biofos Mono calcium Phosphate/Di calcium phosphate animal feed supplement, HSN Code No: 23099090, is classifiable under exempted goods, notified vide the Entry No.102 of Notification No.02/2017, dated: 28th June 2017. FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING,(ANDHRA PRADESH) Note: Under Section 100 of the APGST Act’2017, […]
In re Tangerine Skies Private Limited (GST AAR Jharkhand) The amount payable in instalment to the Ranchi Industrial Development Authority (RIADA) on lease in respect of the scheduled land/ shed for a period of 30 years from the date of allotment after getting the allotment letter does not come under the category of upfront payment. […]
In re Matrix Horizons Private Limited (GST AAR Jharkhand) The amount payable in installment to the Ranchi Industrial Development Authority (RIADA) on lease in respect of the scheduled land/ shed for a period of 30 years from the date of allotment after getting the allotment letter does not come under the category of upfront payment. […]
Shri Vicky Jethani Vs ITO (ITAT Jaipur) We note that the assessee has claimed the gift of Rs. 8,00,000/- received from Smt. Poonaj Kanjani stated to be the Aunt of the assessee and non-resident Indian based at UAE. In support of the claim, the assessee has furnished the Bank Certificate of Bank of Baroda regarding […]
