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Judiciary

Distress Sale of Land: ITAT deletes Section 50C addition

September 12, 2023 2217 Views 0 comment Print

ITAT Kolkata rules in favor of Southern Road Carriers Ltd, stating the Assessing Officer was not justified in making tax additions based on stamp duty value. Get the full case analysis.

Excess application of income of previous years can be set off from subsequent year’s surplus income

September 12, 2023 2511 Views 0 comment Print

Analysis of ITAT Bangalore’s decision in Sindhi Youth Association vs ADIT, focusing on set-off of earlier year’s excess application to subsequent year’s income under Section 11 of the Income Tax Act for Charitable Trusts.

ITAT allows known Loss on closing stock valuation as per Principle of Prudence

September 12, 2023 501 Views 0 comment Print

Analysis of the ITAT Mumbai case, Sanjeev Motwani vs ACIT, focusing on the deletion of addition concerning the valuation of closing stocks based on the Principle of Prudence.

ITAT Grants Section 80IA Deduction for Port Charges, Favors Liberal Interpretation

September 12, 2023 522 Views 0 comment Print

A comprehensive analysis of ITAT Mumbai case DCIT Vs PNP Maritime Services Pvt. Ltd. Focusing on Section 80IA deduction on port charges and its implications

CESTAT Bangalore allows refund of Additional duty paid on Timber Import 

September 12, 2023 303 Views 0 comment Print

CESTAT Bangalore allows a timber import company to refund customs and special additional duty on unsold goods, providing a key precedent for the industry.

No excise duty on Spent earth arising in oil refining, bleaching process

September 12, 2023 252 Views 0 comment Print

Spent earth (By-Product)arising in oil refining, bleaching process arising is not liable to Excise duty -Awn Agro P Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad)

No service tax on services provided by SEZ developer to units in SEZ

September 12, 2023 657 Views 0 comment Print

A detailed analysis of the case between Hiranandani Builders and Commissioner of Service Tax-VII in CESTAT Mumbai. Learn how the Tribunal ruled that Revenue has no authority to collect service tax from SEZ Developers.

HC quashed order denying Duty Drawback without considering uploaded BRS

September 12, 2023 351 Views 0 comment Print

Madras High Court overturns a decision denying Style Garments the benefits of duty drawback, citing failure to consider uploaded Bank Realization Statements.

No Service Tax on Amadeus India Incentives/Commissions for CRS Developer Usage

September 12, 2023 627 Views 0 comment Print

Analysis of CESTAT Kolkata’s judgment in Nitco World Travels vs Commissioner of Service Tax. How it impacts the taxation on commission from Amadeus India.

Non-Filing of AIR Due to Lack of Awareness is Reasonable Cause: Section 271FA penalty deleted

September 11, 2023 702 Views 0 comment Print

Explore the case of Dr. Babasaheb Ambedkar Urban Cooperative Bank Ltd. vs. DIT where penalty under Section 271FA for non-filing of AIR was deleted due to reasonable cause.

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