Any Statutory Fee Paid to obtain a License to do Business is ‘Business Expenditure’: Karnataka HC allows Deduction of ‘Privilege Fee’
Allowing deduction of amount paid towards “privilege fee”, the division bench of the Karnataka High Court held that any expense on obtaining a license...
![Benefit of S. 11 would not be denied on the Entire Income of Trust on Ground of Investments in Mutual Funds: ITAT Pune [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Benefit of S. 11 would not be denied on the Entire Income of Trust on Ground of Investments in Mutual Funds: ITAT Pune [Read Order]")
Continuance of Compounding Scheme till the Completion of Work is not mandatory under KVAT Act: Kerala HC [Read Judgment]
In a recent ruling, the Kerala High Court ruled that the assessee need not continue compounding scheme till the completion of work. Justice Vinod Chandran, while allowing a petition by M/s KNR...
Pre-deposit made from CENVAT Credit Account is admissible u/s 35F of the Central Excise Act: CESTAT Kolkata [Read Order]
In a recent ruling, the division bench of the CESTAT Kolkata held that the amount of pre-deposit under section 35F of the Central Excise Act can be made from both CENVAT Credit Account and Cash...
Enhancement of Assessment by CIT without notice to Assessee is Invalid: ITAT Ahmedabad [Read Order]
Recently, in Shri Vinodbhai Naranbhai Vaghani v. ITO, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the first appellate authority, while enhancing assessment by exercising...
![Enhancement of Assessment by CIT without notice to Assessee is Invalid: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/01/Re-Assessment-Taxscan.jpg "Enhancement of Assessment by CIT without notice to Assessee is Invalid: ITAT Ahmedabad [Read Order]")
Cenvat Credit cannot be denied on Ground of Non-Registration of Premises: Allahabad HC [Read Order]
In a recent decision, Commissioner Service Tax v. M/S Pangea 3 Legal Database Systems Pvt. Ltd, the division bench of the Allahabad High Court held that assessee can avail Cenvat credit in respect of...
Amount Received as Forfeiture of Share Application Money for issue of Share Warrants is Capital Receipt, Not Taxable: ITAT Ahmedabad [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) held that, Amount received as forfeiture of share application money for issue of share warrants is ‘capital receipt’ for the purpose of...
![Amount Received as Forfeiture of Share Application Money for issue of Share Warrants is Capital Receipt, Not Taxable: ITAT Ahmedabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Amount Received as Forfeiture of Share Application Money for issue of Share Warrants is Capital Receipt, Not Taxable: ITAT Ahmedabad [Read Order]")
