DGFT to Discuss Dual-Use Goods, Software and Technology Trade Regime with MEA and Industry Leaders on Jan 30
The Directorate General of Foreign Trade ( DGFT ), in collaboration with the Ministry of External Affairs ( MEA ) and various Government Agencies, is preparing to host the National Conference on Strategic Trade Controls
Disclosure of Address and Identity of Shareholders not Sufficient u/s 68 of Income Tax: ITAT Dismisses Appeal [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed an appeal, emphasizing that the mere disclosure of addresses and identities of shareholders was not sufficient under section 68 of the Income
Legal fiction created u/s 2 (22) (e) of Income Tax Act not to be extended further for broadening concept of shareholders: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that legal fiction created under Section 2 (22)(e) of Income Tax Act, 1961, not to be extended further for broadening concept of shareholders
ITAT Weekly Round-Up
The stories on the Income Tax Appellate Tribunal ( ITAT ) that were published at Taxscan.in from January 19, 2024 to January 27, 2024 are analytically summarized in this Round-Up. Live Rights” not “Copyright”, any
Notice issued in stereotyped manner without applying mind is bad in law: ITAT deletes penalty u/S 271(1)(c) of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT) has nullified a penalty under Section 271(1)(c) of the Income Tax Act, 1961 stating that the Notice issued in a stereotyped manner without applying
Pending Assessment get Abated u/S 153 A of Income Tax Act, after Conducting Search and obtaining Information: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Pending assessment get abated under Section 153 A of Income Tax Act, 1961 after conducting search and obtaining information The assessee
Non-Responsiveness to Statutory Notice and failure to produce evidence in assessement u/S 143(3) of Income Tax Act: ITAT dismisses appeal [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal due to non-responsiveness to statutory notices and the failure to produce evidence during the assessment under Section 143(3) of the
Supreme Court and High Courts Weekly Round-Up
This weekly round-up analytically summarizes the key tax judgments of the Supreme Court and all High Courts reported at Taxscan.in during the previous week from January 20 to January 26, 2024 of 2024. Google-CCI Dispute:
Loan payments made through bank transfers and not bearer Cheques: ITAT deletes penalty imposed u/s 271E of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has nullified the penalty imposed under section 271E of the Income Tax Act, 1961 citing that loan payments are executed through bank transfers
Imposing Penalty beyond time period prescribed by u/s 275(1) (c) of Income Tax Act: ITAT deletes Penalty on cash receipt of loans
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty on cash receipt of loans, citing the imposition of the penalty beyond the time period prescribed by under section 275(1)(c)
CESTAT Weekly Round-Up
This weekly round-up analytically summarizes the key stories of the Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) reported at taxscan.in, from January 20, 2024 to January 26, 2024. Classification of Goods under
“Live Rights” not “Copyright”, any Payment made not Taxable as Royalty: ITAT [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that “Live Rights” are not “copyright”, any payments made are not taxable as royalty. The question before the Tribunal is as
Non-Mentioning in SCN that GST Registration is liable to be Cancelled from Retrospective Date: Delhi HC Sets Aside Order of Cancellation [Read Order]
The Delhi High Court set aside the order of cancellation as there was non-mentioning in the show cause notice ( SCN ) that GST registration is liable to be cancelled from retrospective date. The petitioner
Purchase Expenditure is Outflow against Income Falling within Ambit of u/s 68 of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) Purchase expenditure is outflow against income falling within ambit of under Section 68 of Income Tax Act 1961. The counsels for the assessee
Displacement of Fair Market Value supported by Valuation Report by AO: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the imposition of penalty under section 271(1)(c) of the Income Tax Act 1961, citing the Assessing Officer's rejection of fair market value