Avinash Kurungot
Avinash Kurungot is a B.B.A. LL.B (Hons.) Graduate from Christ University, Bangalore. Following a stint in Civil Litigation, marking appearances across the High Court of Kerala and various sub-courts, he has channelled his skills towards developing engaging tax, finance and news content.
![ITAT overturns ₹1.2 Crore Income Tax Additions from Penny Stock Sale, vitiates Presumption of ‘Human Probabilities’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-INCOME-TAX-Income-Tax-Additions-Penny-Stock-Sale-Stock-Sale-vitiates-Presumption-of-Human-Probabilities-Human-Probabilities.jpg "ITAT overturns ₹1.2 Crore Income Tax Additions from Penny Stock Sale, vitiates Presumption of ‘Human Probabilities’ [Read Order]")
ITAT overturns ₹1.2 Crore Income Tax Additions from Penny Stock Sale, vitiates Presumption of ‘Human Probabilities’ [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted additions of Rs. 1.2 crore made by an Assessing Officer (AO) on the...
![ITAT caps S.14A Disallowance at 1% of Dividend Income for Period prior to Rule 8D, Income Tax Rules [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Dividend-Income-TAXSCAN-2.jpg "ITAT caps S.14A Disallowance at 1% of Dividend Income for Period prior to Rule 8D, Income Tax Rules [Read Order]")
![Prior Period Expenses Integrable to Current Income Tax Assessment if Unclaimed: ITAT Remands HUDCO Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-HUDCO-Housing-and-Urban-Development-Corporation-Income-Tax-Appellate-Tribunal-Prior-Period-Expenses-Integrable-taxscan.jpg "Prior Period Expenses Integrable to Current Income Tax Assessment if Unclaimed: ITAT Remands HUDCO Matter [Read Order]")
![10% Estimated Depreciation Claim on Property Registration Charges & Stamp Duty: ITAT remands for de novo Income Tax Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-Income-Tax-Income-Tax-Assessment-De-novo-Assessment-ITAT-ITAT-Delhi-Income-Tax-Income-Tax-Assessment-De-novo-Assessment-Taxscan.jpg "10% Estimated Depreciation Claim on Property Registration Charges & Stamp Duty: ITAT remands for de novo Income Tax Assessment [Read Order]")
Non-Reversal of ITC on Goods Lost in the Manufacturing Process: Legal Perspectives and Draft Reply under GST [Read Order]
The Goods and Services Tax ( GST ) regime in India aims to streamline indirect taxation and eliminate tax cascading by allowing Input Tax Credit ( ITC ) on goods and services used by businesses in...
![Non-Reversal of ITC on Goods Lost in the Manufacturing Process: Legal Perspectives and Draft Reply under GST [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITC-GST-Draft-Reply-Format-for-Non-reversal-of-ITC-taxscan.jpg "Non-Reversal of ITC on Goods Lost in the Manufacturing Process: Legal Perspectives and Draft Reply under GST [Read Order]")
₹2 Crore Expenditure on Bonds and Term Loans: ITAT grants Income Tax Deductions to HUDCO [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) recently upheld deductions of Rs.2 Crore made by the Housing and Urban Development Corporation (HUDCO), citing expenditure on bonds and...
Undisclosed Foreign Credit Card Expenses: ITAT sustains Income Tax Additions towards Lalit Modi [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi, recently confirmed income tax additions made by an Assessing Officer on prominent business personality Lalit Kumar Modi, alleging undisclosed...
![Undisclosed Foreign Credit Card Expenses: ITAT sustains Income Tax Additions towards Lalit Modi [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Delhi-Foreign-Credit-Card-Expenses-Income-Tax-Income-Tax-Additions-Taxscan.jpg "Undisclosed Foreign Credit Card Expenses: ITAT sustains Income Tax Additions towards Lalit Modi [Read Order]")
![ITAT Rejects ₹14 Crore Protective Income Tax Addition Against Lalit Modi [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Delhi-Income-Tax-Appellate-Tribunal-Income-Tax-Addition-TAXSCAN.jpg "ITAT Rejects ₹14 Crore Protective Income Tax Addition Against Lalit Modi [Read Order]")
Reversal of ITC in the Absence of E-Invoice: How to Draft Reply towards Show Cause Notice [Read Draft Reply]
The Input Tax Credit ( ITC ) mechanism is a cornerstone of the Goods and Services Tax ( GST ) regime in India. ITC allows businesses to reduce their tax liability paid on inputs from the tax payable...
![Reversal of ITC in the Absence of E-Invoice: How to Draft Reply towards Show Cause Notice [Read Draft Reply]](https://www.taxscan.in/wp-content/uploads/2024/11/Reversal-of-ITC-GST-ITC-ITC-Reversal-GST-Show-Cause-Notice-Reply-Show-Cause-Notice-Reply-Drafting-taxscan.jpg "Reversal of ITC in the Absence of E-Invoice: How to Draft Reply towards Show Cause Notice [Read Draft Reply]")
Failure to disclose International Address in Tax Evasion case u/ Black Money Act: Delhi HC sustains Criminal Complaint [Read Order]
The Delhi High Court recently dismissed a plea seeking quashal of a criminal complaint in a tax evasion case under The Black Money ( Undisclosed Foreign Income And Assets ) and Imposition Of Tax Act,...
Proforma typed Customs Notice u/s 102 should allow Choice of Mode of Personal Search: Delhi HC while Denying Bail to Smuggling-Accused [Read Order]
The Delhi High Court recently issued advisory to the Customs Department to alter their proforma notices under Section 102 of the Customs Act, 1962 to provide choice to an apprehended person to opt...
![Proforma typed Customs Notice u/s 102 should allow Choice of Mode of Personal Search: Delhi HC while Denying Bail to Smuggling-Accused [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Delhi-High-Court-Delhi-HC-Proforma-typed-Customs-Notice-Section-102-of-the-Customs-Act-Denying-Bail-to-Smuggling-Accused-taxscan.jpg "Proforma typed Customs Notice u/s 102 should allow Choice of Mode of Personal Search: Delhi HC while Denying Bail to Smuggling-Accused [Read Order]")