ITAT Delhi nullifies Section 271B penalty on Parag Jain, asserting that only difference in non-delivery derivative transactions should be taken into account when determining turnover for a tax audit.
CESTAT overturned the order that had previously confirmed the demand on expenses such as deconsolidation charges, transportation charges, and DO charges. These expenses were initially collected by the assessee from their clients and then paid to the service provider.
Madras High Court, in case of Aqua Excel Vs Assistant Commissioner, allows petitioner to approach appellate authority with a delayed appeal under Tamil Nadu Value Added Tax.
Madras High Court condones the delay of 10 days in filing appeal as the petitioner was unaware of the orders as the orders was sent to the Consultant’s email id.
ITAT Chennai held that disallowance u/s 40(a)(ia) of the Income Tax Act for non-deduction of TDS is justified as TDS is not deducted and assessee has failed to file any evidence that receipts have declared the amount in their return of income.
ITAT Raipur held that payment towards purchase of beer from the State Government is an exception to the applicability of section 40A(3). However, brushing aside the said objection/ response filed by the assessee had rendered entire mechanism provided u/s 143(1)(a) as redundant and otiose.
The Rajasthan High Court orders a prompt decision on a GST refund application pending for 9 months, setting a limit of 60 days for a resolution in the case Rajcomp Info Services Ltd Vs Union of India.
CESTAT Ahmedabad held that as work orders involves both supply of material as well as service, the same is classifiable under works contract service and not under Commercial and Industrial Construction Service.
ITAT Delhi held that maintenance charges not connected to the rental income cannot be considered as part of rental income. Accordingly, maintenance charge collected is taxable as business income.
ITAT Ahmedabad held that disallowance of revenue expenditure treating it as capital merely on the basis of description of the expenditure without any substantive record is unsustainable.
