The ITAT ruling in the case of ITO vs Hindustan Breweries clarifies that share capital credited via journal entries does not constitute ‘unexplained share capital’. The Tribunal upheld the deletion of addition u/s 68 of the Income Tax Act.
Detailed analysis of the recent ITAT ruling in the case of Lear Automotive India Private Limited Vs ACIT, where engineering and development costs were classified as revenue expenditure.
Insightful overview of the CESTAT Ahmedabad’s decision in Deepali Suresh Padhiar Vs C.C.-Ahmedabad case, examining the implications for non-resident Indians unaware of Indian Baggage Rules.
Review of the Calcutta High Court’s judgment in the case Usha Gupta Vs Assistant Commissioner of Revenue, exploring the implications for penalties in instances of shortage in consignment quantity.
Case summary of Jochan Michael vs. Commissioner of Customs where CESTAT Kolkata upheld the confiscation of foreign-origin gold biscuits despite an error in the recorded statement.
In a landmark decision, CESTAT Ahmedabad supports Welspun Corp Ltd, permitting the use of Cenvat credit of basic excise duty to offset Education Cess and Secondary & Higher Education Cess, establishing a crucial legal precedent.
The Punjab and Haryana High Court has dismissed a petition requesting certified copies of documents in the case of Manpreet Singh Vs State of Punjab. The court determined that the request had become infructuous due to subsequent events.
Learn about the significant verdict of CESTAT Ahmedabad in Universal Medicap Limited Vs Commissioner of Central Excise & ST case, offering critical insights on taxability and exemptions concerning the sterilization process in goods production.
Delve into the notable decision of ITAT Chandigarh in the case of Mahaluxmi Food Industries Vs ITO, concerning the right to set off losses against surrendered business income as per Section 115BBE(2) of the Income Tax Act, 1961.
ITAT held that dividend declared, distributed or paid by a domestic company to non resident shareholder (s) attract additional income tax (tax on distributed profits) referred to in section 115-O of the Act, such additional income tax payable by the domestic company shall be at the rate of mentioned in section 115-O of the Act and not at the rate of tax applicable to the non resident shareholder(s) as specified in the relevant DTAA with reference to such dividend income.
