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Judiciary

No Maximum Penalty for Violating CBLR Provisions without License Revocation

July 21, 2023 486 Views 0 comment Print

Review the case between Lotus Integrated Logistics and the Commissioner of Customs where CBLR violations didn’t result in license revocation or max penalty.

ITAT Rules: Income Determination Based on Surmise and Conjecture is Illegal

July 21, 2023 1185 Views 0 comment Print

Delve into the latest Income Tax Appellate Tribunal (ITAT) Delhi’s judgement on the case of DCIT Vs Vinod Kumar Bajaj, discussing the illegality of income determination based on conjecture and presumption.

ITAT Quashes Reassessment Order Due to Non-Issue of Notice

July 21, 2023 882 Views 0 comment Print

Discover the case of Sohanbir Sing Vs Assessing Officer, where the ITAT Delhi ruled that failure to issue notice for reassessment cannot be remedied under Section 292B of the Income Tax Act.

No Ad-hoc Disallowance for Railway Site Expenses without Rational Basis

July 20, 2023 366 Views 0 comment Print

In the case of Durga Signal Infra Pvt. Ltd. vs ACIT, ITAT Kolkata rules that there should be no disallowance made under Section 37(1) of the Income Tax Act for site expenses incurred for railway business. Learn about the case, its analysis, and conclusion.

Loss from derivative trading can be set off against regular business income

July 20, 2023 2721 Views 0 comment Print

Detailed analysis of the ITAT Kolkata ruling in favor of Kippy Engineering Pvt Ltd, where the tribunal deleted an addition made from losses in derivative trading adjusted with business income.

HRA Deduction: Rent Paid to Wife Qualifies under Section 10(13A)

July 20, 2023 56418 Views 0 comment Print

The Income Tax Appellate Tribunal (ITAT) Delhi has ruled in favor of Aman Kumar Jain against the Income Tax Officer, permitting rent paid to a wife as eligible for HRA deduction under section 10(13A) of the Income Tax Act.

Revenue Department cannot seize cash during the inspection

July 20, 2023 1128 Views 0 comment Print

Kerala High Court in Dhanya Sreekumari v. State Tax Officer held that cash not being a stock-in-trade of assessee, was not a thing that ought to have been seized and directed Revenue Department to release cash seized to assessee.

GST Refund Claim: Technical Grounds Alone Not Sufficient for Rejection

July 20, 2023 2262 Views 0 comment Print

In the case of Renuka Sugars Ltd vs State of Gujarat, Gujarat High Court examines validity of lodging a supplementary refund claim under ‘any other’ category for a balance refund amount due to an arithmetical error.

Quantum Appeal Allowed, Section 54F Deduction Granted: Penalty Vacated

July 20, 2023 648 Views 0 comment Print

Read the full text of the order of ITAT Jaipur in the case of Lalit Kumar Kalwar Vs ITO. The quantum appeal is allowed, and the deduction under Section 54F is granted, resulting in the penalty being vacated.

Writ Court does not act as assessing officer or appellate authority: Calcutta HC

July 20, 2023 288 Views 0 comment Print

The Calcutta High Court rejects a writ petition challenging a tax assessment order, reaffirming that a Writ Court does not act as an assessing officer or an appellate authority

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