Supersmelt Sponge Private Limited. Vs Superintendent, (Anti Evasion), Central Tax, C.G.S.T., Commissionerate, Bolpur & Ors. (Calcutta High Court) It was submitted that, the appeal filed by the petitioner is before a wrong authority. The Additional Commissioner (Appeals), C.G.S.T. Commissionerate, Siliguri has jurisdiction over the subject matter. He submits that, respondent no. 3 as described in […]
Mangalam Alloys Ltd. Vs Commissioner of Central Excise Ahmedabad-III (Gujarat High Court) The Revenue authorities and the Tribunal concurrently came to the conclusion that the transactions in question were nonexistence. The assessee was not able to establish the actual movement of the goods. When the RTO report strongly suggested that the vehicles in which the […]
Interest expenditure could be allowed only if the loan was borrowed for the purpose of the business of the assessee and if it is used for the purchase of an asset which yielded exempted income, that interest expenditure cannot be allowed u/s. 36(1)(iii) of the Act.
Explore Amar Das’ ITAT case. Section 50C, capital gains clarified. Rs. 43,22,878 addition overturned. Get insights on tax implications.
A.O. applied the deeming provisions of Section 50C of the I.T. Act, for the purpose of making the addition. Thus, the A. O. did not bring any positive evidence on record to show that assessee has concealed particulars of income or furnished any inaccurate particulars.
Hemkunt Chemicals Pvt. Ltd. Vs ITO (ITAT Delhi) To decide nature of income received from letting out of property the deciding factor is not ownership of premises but the nature of activity of assessee and nature of operations in relation thereto. As evident from assessees memorandum, objects of the company were to buy, purchase or […]
Ayub Ali Vs ACIT (ITAT Jaipur) The assessee has entered into an agreement with a Government Hospital in Bikaner whereby it operates the MRI and CT Scan machines. The nature of such activities therefore demand a continuous supply of electricity and the assessee cannot risk the life of the patients especially those admitted in emergency […]
Nitin Kumar Vs ACIT (ITAT Kolkata) Interest under section 234A is charged for delay in filing of the return from the prescribed due date. The cash was seized from the possession of the assessee before due date of filing of return under section 139(1) in the relevant assessment year when such seizure took place. Thus, […]
Supply of beer per se is not taxable under GST. What is taxable in the subject case is the job work which is a service provided by PIL to the applicant, for which they are receiving consideration.
JRA & Associates Vs ACIT (ITAT Delhi) After perusal of the partnership deed in the assessee’s case it can be seen that the CBDT Circular in Clause 4 has categorically mentioned that even the method of quantification can be accepted as per the provisions of Section 40(b) (v) of the Act. Besides that the Hon’ble […]
