ITAT Delhi held that disallowance of interest u/s. 36(1)(iii) of the Income Tax Act to be restricted to the borrowed amount which is not used for business purpose.
ITAT Delhi held that the assessee failed to produce books of account before AO as well as before CIT(A). Books were produced before Tribunal. Accordingly, matter restored back to AO with direction to consider the documents produced and adjudicate the issue accordingly.
ITAT Raipur resorted the matter back to AO to verify the actual status of payment of consideration by each co-owner vis-à-vis applicability of provisions of section 194IA of the Income Tax Act.
ITAT Mumbai held that Arm’s Length Price (ALP) of Employee Stock Option Plan (ESOP) cannot be taken as NIL. Accordingly, matter set aside with direction to re-compute ALP and transfer pricing adjustment.
ITAT Hyderabad held that receipt of more than Rs. 20,000 by way of cash without any reasonable cause is in contravention of provisions of section 269SS of the Income Tax Act. Accordingly, penalty under section 271D duly imposed.
ITAT Delhi held that invocation of revisionary power u/s. 263 of the Income Tax Act unsustainable as Assessing Officer duly carried out all the inquiry before passing assessment order u/s. 143(3) of the Income Tax Act.
CESTAT Hyderabad held that parking charges collected for providing parking space is liable for inclusion in the value of Management, Maintenance or Repair services and accordingly, service tax is payable on the same.
ITAT Ahmedabad held that the assessee (pharmaceutical company) is not entitled for claiming deduction under section 37(1) of the Income Tax Act on account of freebies given to the doctors.
Learn why a Section 90(1) notification is crucial for a DTAA’s enforcement, as per the Supreme Court’s landmark judgment in AO vs. Nestle SA. Understand its impact and implications.
Calcutta High Court sets aside GST appellate order in Murtaza B Kaukawala vs. State of West Bengal, emphasizing natural justice principles. Detailed analysis and judgment included.
