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Share Premium from Earlier Year Not Taxable: ITAT Deletes ₹6.40 Lakh Addition u/s 68 [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) deleted the ₹6.40 Lakh addition, holding that the share premium from an earlier year was...
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Share Premium from Earlier Year Not Taxable: ITAT Deletes ₹6.40 Lakh Addition u/s 68 [Read Order]
The assessee had included ₹6.40 lakh as share premium money in the return of income for the year under consideration, which the AO sought to treat as unexplained cash credit under section 68. Since the sum pertained to an earlier year, it could not be taxed in the current assessment year.
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AAR rejects Advance Ruling application on Waste Management Service Classification as Issue already Pending in Tax Proceedings [Read Order]
Since the issue was already pending in adjudication proceedings initiated by the department, the AAR was barred from admitting the application under the first proviso to Section 98(2) of the CGST/TNGST Acts
Kavi Priya
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Yogitha S. Yogesh
Rupesh Sharma
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Navasree A.MAAR rejects Advance Ruling application on Waste Management Service Classification as Issue already Pending in Tax Proceedings [Read Order]
Since the issue was already pending in adjudication proceedings initiated by the department, the AAR was barred from admitting the application under the first proviso to Section 98(2) of the CGST/TNGST Acts
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