The Pune Bench of Income Tax Appellate Tribunal dismissed the revenue appeal on Educational Institution’s Tax Exemption due to non-compliance with the requirements prescribed under Section 143(3) of the Income Tax Act, 1961. The Commissioner of Income Tax (Exemption) filed an appeal challenging the tax-exempt status granted to Mahindra International School Academy (assessee) under Section...
The Delhi High Court recently allowed a Petition seeking to quash an impugned reassessment order issued by the Income Tax Officer, Ward-63(1), Delhi against the Financials of the Petitioner Proprietary firm M/s. JMK Enterprises. The instant Writ Petition was filed against the Revenue alleging mishandling of the Petitioner’s Assessment for the Assessment Year 2014-15 by...
In a recent ruling, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) of Mumbai held that the set-off of excess duty payments against short-payments is permissible, and remanded the case back to the lower authority for fresh consideration. The assessee/appellant in the case is M/s Foundation Brake Manufacturing Pvt Ltd. Initially, the appellant faced a...
In the recent case, the Mumbai bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that refund claims for exported goods from April to June 2009 were not impacted by the conditions of the new notification issued on July 7, 2009. Zodiac Clothing Company Limited,the appellant-assessee,engaged in the export of goods, periodically filed...
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