The Two member bench of Delhi Income Tax Appellate Tribunal (ITAT) upheld the deletion of addition made on account of expenditure incurred on e-stamp duty expenses paid towards Non-Convertible Debenture issued by the Dish Infra Services. The Assessee , Dish Infra Services Pvt.Ltd engaged in the business of Dish installation from small trade partners, EPRS...
The Calcutta High Court observed that the legitimacy of income not established when investment made from share premium without noticeable business activity. The assessee filed the return of income disclosing a total income of Rs. NIL. The return was processed under Section 143(1) of the Income Tax Act. Subsequently, the case was selected for scrutiny...
The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) has ruled that service tax is not payable by the National Co-Operative Consumers’ Federation of India,( NCCF ) since they are adding 5% margin money, collecting the sale price from the consumers, and paying the sales tax on the entire amount...
The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that expenses related to advertising and marketing are expenses are not includable in value of imported goods since the activities were carried out in India for the sale of the goods in India which amounts to post-import. The appellant/assessee,...
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