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Judiciary

Impact of Section 56(2)(vii) on Property Purchased Above Circle Rate

June 12, 2023 5904 Views 0 comment Print

Vinit Kumar Vs DCIT – ITAT Delhi clarified the application of Section 56(2)(vii) on properties purchased for more than the circle rate.

Refund of Service Tax cannot be denied to a person bearing the incidence of tax

June 12, 2023 576 Views 0 comment Print

CESTAT Delhi in case of Quality Builders & Contractor vs Commissioner of Central Excise, set a new precedent for service tax refund claims.

Principle of Natural Justice Upheld by NCLAT

June 12, 2023 999 Views 0 comment Print

Detailed review of NCLAT judgment in H S Oberoi Buildtech Pvt. Ltd. Vs Inderjit Singh & Anr., highlighting importance of principle of natural justice in passing orders

Business Loss from Chit Fund Allowed by ITAT

June 12, 2023 1002 Views 0 comment Print

Detailed analysis of ITAT Delhi’s ruling in Nijhawan Travel Services Pvt. Ltd. Vs DCIT, exploring the critical determination that the loss of Chit Fund used for business is allowable as a business loss.

Failure to Issue Section 143(2) Notice within Prescribed Time Limit Invalidates Reassessment

June 12, 2023 468 Views 0 comment Print

ITAT Kolkata’s decision, invalidating reassessment for Vansa Properties Pvt. Ltd. vs ITO due to non-issuance of notice under Section 143(2) within stipulated timeframe.

ITAT Deletes Section 271B Penalty: Non-Compliance of Notice not Always Deliberate

June 12, 2023 474 Views 0 comment Print

ITAT Kolkata deletes the penalty imposed on Devnadi Advisory Pvt. Ltd. due to alleged non-compliance of notice under section 271B of the Income Tax Act

ITAT rejects dismissal of Meritorious case when Valid Documents produced

June 12, 2023 273 Views 0 comment Print

ITAT Hyderabad case Narasimha Rao Venkata Lakshmi Nandury Vs ITO, emphasizing that a meritorious case should not be dismissed when proper documents are produced

CESTAT Kolkata Directs Re-adjudication Over Denied Opportunity

June 12, 2023 399 Views 0 comment Print

Recent CESTAT Kolkata case, Lexmark International vs CGST & CX, highlighting significance of giving parties opportunity to present their cases and documents

Unusual Salary Disparity: HC directs ICAI to pass a reasoned & speaking order

June 12, 2023 837 Views 0 comment Print

Landmark decision by Delhi High Court in the case of Alok Malhotra vs Institute Of Chartered Accountants Of India, addressing an anomaly in salary caused by an Accelerated Promotion Scheme.

GST Refund on Zero Rated Supplies Can’t be Denied due to Appeal

June 12, 2023 984 Views 0 comment Print

Delve into the Delhi High Court ruling that highlights the inviolable right to a GST refund on zero-rated supplies, regardless of any potential appeal by the GST department, in the case of Netgear Technologies India Pvt Ltd vs The Assistant Commissioner GST

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