In Associate Décor Limited Vs Deputy Commissioner case, Karnataka HC weighs moratorium’s effect on tax proceedings under IBC, halting them pending resolution.
Whether the applicant is required to pay GST on ‘initial advance’ of 5% and ‘interim’” advance of 7.5% on Ex works value of goods supplied
Disallowance made by CPC on account of delayed deposit of employees’ contribution to PF/ESI u/s 36(1)(va) rws 2(24)(x) of Act u/s 143(1) of Act is correct.-ITAT Kolkata
ITAT Jaipur held that penalty u/s 271(1)(c) of the Income Tax Act not leviable as addition made on account of meager amount and on account of difference of opinion only.
ITAT Delhi held that cost of new property for the purpose of exemption under section 54 has to be assumed to be value of interests and share in the new construction, as per the collaboration agreement and the sale deed terms.
ITAT Delhi held that disallowance under section 14A of the Income Tax Act cannot exceed the exempt income.
ITAT Bangalore held that expenditure towards Employees Stock Option Plan (ESOP) is allowable deduction u/s 37 of the Income Tax Act.
Arulmigu Aathi Karumapuram Sellandiamman Kudipaattukarakal Seva Trust Vs CIT (ITAT Chennai) Registration u/s 12AA not granted to trust existed for benefit of particular section of Hindu religion ITAT Chennai held that registration under section 12AA of the Income Tax Act is not granted to the trust which existed only for the benefit of a particular […]
ITAT Mumbai held that the payment of compensation to CSA (Cricket South Africa) under the Termination Agreement is also not taxable under the provisions of the India-South Africa DTAA. Since the payment is not chargeable to tax in India in the hands of CSA, therefore, there is no obligation on the assessee to deduct tax at source under section 195 of the Act.
Supreme Court held that amended notification no. 164 of 2003 dated 11th November 2003 shifting the concessional benefit from “High Speed Cold-Set Web Offset Rotary Printing Machine with minimum speed of 70,000 copies per hour” to “High Speed Cold-set Web Offset Rotary Double Width Four Plate Wide Printing Machine with a minimum speed of 70,000 copies per hour” is in line with provision of section 25(1) of the Customs Act, 1962.
