Fathima Karama A.M
DMFT is Govt Authority: Eligible for GST Exemption, says GST Council
The 52nd Goods and Service Tax (GST) council convened today has clarified that District Mineral Foundations Trusts (DMFT) setup by the state...
![No Service Tax under BAS leviable on GSA Commission received from Airlines on Promoting and Marketing Services by Foreign Airlines [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/No-Service-Tax-BAS-leviable-GSA-Commission-Airlines-Promoting-Marketing-Services-Foreign-Airlines-taxscan.jpg "No Service Tax under BAS leviable on GSA Commission received from Airlines on Promoting and Marketing Services by Foreign Airlines [Read Order]")
![CESTAT Set Aside dismissal of appeal filed within Stipulated Period of 60 days as Prescribed u/s 128 of Customs Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/CESTAT-dismissal-appeal-Stipulated-Prescribed-Customs-Act-TAXSCAN.jpg "CESTAT Set Aside dismissal of appeal filed within Stipulated Period of 60 days as Prescribed u/s 128 of Customs Act [Read Order]")
![Issuance of Show Cause Notice u/a 124 instead of Section 146 of Customs Act with Regard to Customs Broker licence is Void ab initio: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Issuance-of-Show-Cause-Notice-Customs-Act-Customs-Broker-licence-Void-ab-initio-CESTAT-taxscan.jpg "Issuance of Show Cause Notice u/a 124 instead of Section 146 of Customs Act with Regard to Customs Broker licence is Void ab initio: CESTAT [Read Order]")
![AO cannot Reject Valuation of Share Merely Based on Absence of DCF Method in rule 11UA at the time of Issuance of Shares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/AO-cannot-Reject-Valuation-of-Share-Merely-Based-on-Absence-of-DCF-Method-time-of-Issuance-of-Shares-ITAT-TAXSCAN.jpg "AO cannot Reject Valuation of Share Merely Based on Absence of DCF Method in rule 11UA at the time of Issuance of Shares: ITAT [Read Order]")
Two FMV cannot be Considered for Same Property on Particular Date: ITAT Directs DVO to Determine FMV [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has directed the Departmental Valuation Officer (DVO) to determine the Fair Market Value (FMV) holding that the two FMV reports could not be...
![Two FMV cannot be Considered for Same Property on Particular Date: ITAT Directs DVO to Determine FMV [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Two-FMV-Same-Property-Particular-Date-ITAT-Directs-DVO-Determine-FMV-taxscan.jpg "Two FMV cannot be Considered for Same Property on Particular Date: ITAT Directs DVO to Determine FMV [Read Order]")
ITAT upholds Addition u/s 56(2) (viib) of Income Tax Act as Share Premium Received by was in Excess of Fair Market Value of Share [Read Order]
The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) has upheld the addition under Section 56(2) (viib) of the Income Tax Act as the share premium received by the company was in excess of the...
![ITAT upholds Addition u/s 56(2) (viib) of Income Tax Act as Share Premium Received by was in Excess of Fair Market Value of Share [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-upholds-Addition-income-Tax-Act-as-Share-Premium-Received-by-was-in-Excess-of-Fair-Market-Value-of-Share-TAXSCAN.jpg "ITAT upholds Addition u/s 56(2) (viib) of Income Tax Act as Share Premium Received by was in Excess of Fair Market Value of Share [Read Order]")
CESTAT allows Refund of Excess Payment of Service Tax against Adjustment Towards other Period Liability [Read Order]
The Chandigarh Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has allowed the refund of excess payment of service tax against the adjustment towards other period liability. ...
![CESTAT allows Refund of Excess Payment of Service Tax against Adjustment Towards other Period Liability [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/CESTAT-Refund-of-Excess-Payment-Service-Tax-Adjustment-Towards-Period-Liability-TAXSCAN-1.jpg "CESTAT allows Refund of Excess Payment of Service Tax against Adjustment Towards other Period Liability [Read Order]")
![ITAT Deletes Addition u/s 69C of Income Tax Act made Solely on Basis of WhatsApp chat [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Addition-Income-Tax-Act-WhatsApp-chat-Income-Tax-taxscan.jpeg "ITAT Deletes Addition u/s 69C of Income Tax Act made Solely on Basis of WhatsApp chat [Read Order]")
Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has deleted the disallowance made under Section 14A of the Income Tax Act 1961 read with Section 8D(2)(ii) of the Income Tax Rules 1962. ...
![Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-Funds-Investments-Interest-Bearing-Funds-Not-Applied-for-the-Purpose-of-Making-Investments-ITAT-taxscan.jpg "Interest Bearing Funds Not Applied for the Purpose of Making Investments: ITAT Deletes Disallowance u/s 14A r.w.r 8D(2)(ii) of Income Tax Rules [Read Order]")
Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the addition for deemed dividend under Section 2(22) of the Income Tax Act,1961 could only be made in the hands of...
![Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-Deemed-Dividend-Income-Tax-Act-Hands-of-Shareholder-ITAT-taxscan.jpg "Addition for Deemed Dividend u/s 2(22)(e) of Income Tax Act Can Only be Made in the Hands of Shareholder: ITAT [Read Order]")
Taking Separate Exemption for Claiming Contribution to Gratuity fund not needed as Approval Granted to Master Trust Applicable to Companies formed by Restructuring: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that taking separate exemption for claiming contribution to the gratuity fund was not needed as approval granted to master trust...
![Taking Separate Exemption for Claiming Contribution to Gratuity fund not needed as Approval Granted to Master Trust Applicable to Companies formed by Restructuring: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Taking-Separate-Exemption-Exemption-Contribution-Taking-Separate-Exemption-for-Claiming-Contribution-to-Gratuity-Gratuity-ITAT-taxscan.jpg "Taking Separate Exemption for Claiming Contribution to Gratuity fund not needed as Approval Granted to Master Trust Applicable to Companies formed by Restructuring: ITAT [Read Order]")