ITAT Surat allows appeal in the case of Kiwans Farsuram Bhamwala Vs ITO. Case remanded to AO for fresh examination, granting assessee another hearing opportunity.
Entities advancing general public utility could engage in trade or business only if such activities were incidental to their primary charitable objectives and adhered to specific quantitative thresholds.
ITAT Delhi upholds penalty under Section 271(1)(b) against Sanjay Dalmia for not signing consent waiver form related to undisclosed HSBC bank account details.
ITAT Kolkata rules on property valuation under Section 56(2)(vii)(b) and jurisdiction in limited scrutiny cases for AY 2014-15, allowing Nisha Gupta’s appeal.
NCLAT Delhi held that assignment agreement establishes absolute right of the corporate debtor over the property hence it is part of liquidation estate. Payment of unauthorised sub-letting charges doesn’t mean any valid sub-letting of property.
ITAT Chennai held that addition under section 69 towards unexplained investment merely based on loose sheets without any corroborative evidences is unsustainable in law. Also held that addition on the basis of mere assumption and presumption not sustainable.
ITAT Agra held that evidences with regard to deposit of income tax deducted at source (TDS) filed for the first time before ITAT hence appeal allowed with direction to AO to verify the documents.
In the matter abovementioned ITAT Pune after relying upon the decision of jurisdictional HC held that assessee was eligible for deduction u/sec.80P(2)(a) (i) on the Interest earned by assessee.
Allahabad High Court rejected bail application of applicant involved in GST fake firm matter since the case of bail is not made out in economic offence where money trail of crores and co-accused discharge application has already been rejected.
ITAT Chennai held that payments are in the nature of selling commission to foreign agents who is not having permanent establishment or business connection in India is not taxable in India and accordingly, TDS u/s. 195 not deductible.
