Explore the recent ITAT Surat ruling on Mukesh Agarwal vs ITO, where no addition was justified without corroborative evidence on a discovered satakat during a third-party survey.
Calcutta HC in J. L. Enterprises v. Assistant Commissioner, State Tax held that cash-credit facility is not a debt, thus cannot be attached through provisional attachment order.
ITAT Bangalore held that the adjustment made by the TPO towards technical know-how fees despite accepting the entity level margins is liable to be deleted.
ITAT Pune held that change in method of accounting cannot partake character of concealment. Accordingly, penalty under section 271(1)(c) of the Income Tax Act not leviable.
Explore the ITAT order rectifying disallowance of EPF & ESIC contributions, diverging from the Checkmate Services judgment. Analysis, implications & more.
SC in the Ghanshyam Vs Yogendra Rathi, concerning entitlement to eviction and mesne profits based on various documents such as power of attorney, will, agreement to sell, possession memo, and sale consideration receipts
CESTAT Chennai held that tax under Reverse Charge Mechanism (RCM) doesn’t apply to fees paid to foreign institutions for External Commercial borrowing as such financial institutions have permanent establishment in India.
ITAT Pune held that registration under section 80G(5)(vi) of the Income Tax Act not granted as the agreement gives benefit of the persons covered u/s. 13(3) of the Act.
ITAT Delhi held that disallowance u/s 40(a)(ia) of the Income Tax Act on account of non-payment of TDS unsustainable as TDS already deducted and deposited by the assessee.
ITAT Ahmedabad held that penalty under section 271D of the Income Tax Act leviable for contravention of provisions of section 269SS on failure to establish any reasonable cause for taking cash loans.
