CESTAT Delhi

Non-deposit - Service Tax - RCM -Oversight - Mistake - CESTAT - Penalty - Taxscan

Non-deposit of Service Tax under RCM due to Oversight/Mistake: CESTAT deletes Penalty [Read Order]

July 27, 2022

CESTAT - Contempt of Court - Asst Commissioner - Notices - Tribunal Order - Taxscan

CESTAT initiates ‘Contempt of Court’ Proceedings against Asst Commissioner for Issuing Notice despite Tribunal Order [Read Order]

July 25, 2022

CENVAT Credit - Common Inputs - Input Services - Assessee - Exempted Services - CESTAT - taxscan

CENVAT Credit on Common Inputs/Input Services cannot be denied Even If Assessee is Rendering Exempted Services: CESTAT [Read Order]

July 21, 2022

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Interest paid - convertible debentures - interest - equity - expenditure - ITAT - taxscan

Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]

August 18, 2022

The Income Tax Appellate Tribunal (ITAT), Bangalore held that Interest paid on convertible debentures is not interest on equity and allowable as expenditure under Section 36(1)(iii). The only issue raised by assessee, M/s. CAE Flight Training (India) Pvt Ltd is in respect of treating Compulsory Convertible Debentures (CCDs) as equity and holding that no interest […]

Indigo Airlines - Subsidy - Aircraft Engines - Capital Receipts - ITAT - taxscan

Relief to Indigo Airlines: Credit/Subsidy from Suppliers of Aircraft Engines and other Components are Capital Receipts, rules ITAT [Read Order]

August 18, 2022

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the credit or subsidy from suppliers of aircraft engines and other components are capital receipts and deleted the addition. The appellant, M/s. Inter Globe Aviation Ltd is engaged in the business of operation of low-cost airlines in India under the name and style of […]

Amount paid by Purchaser of Property to Tenant can’t be taxed in the Capital Asset of Owner: ITAT [Read Order]

August 18, 2022

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that amount paid by the purchaser of property to the tenant can’t be taxed in the capital asset of the owner. The four assessees are members of the same family. Smt. Halima obtained the property measuring 4,400 sq. ft from her father Shri […]

TDS Deduction - Insurance Companies - Punjab and Haryana HC - taxscan

No TDS Deduction by Insurance Companies on Interest on Compensation to Claimant prior to 1st June 2015: Punjab & Haryana HC [Read Order]

August 18, 2022

In a major relief to those who are yet to receive long-pending insurance claims with interest, the Punjab and Haryana High Court has held that TDS cannot be deducted by the insurance companies on the interest on the compensation amount till 1.06.2015. Justice Arvind Singh Sangwan was considering a revision petition by the New India […]

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Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]

August 18, 2022

Relief to Indigo Airlines: Credit/Subsidy from Suppliers of Aircraft Engines and other Components are Capital Receipts, rules ITAT [Read Order]

August 18, 2022

Amount paid by Purchaser of Property to Tenant can’t be taxed in the Capital Asset of Owner: ITAT [Read Order]

August 18, 2022

No TDS Deduction by Insurance Companies on Interest on Compensation to Claimant prior to 1st June 2015: Punjab & Haryana HC [Read Order]

August 18, 2022

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