Income Tax Appellate Tribunal (ITAT)

Gujarat - HC - Income - tax - Act - Income - evade - tax - Penalty - Interest - TAXSCAN

Gujarat HC quashes prosecution under Income tax Act on Undisclosed Income in absence of a willful attempt to Evade Tax, Penalty or Interest [Read Order]

March 29, 2023

Bombay - HC - Interest - Expenditure - Interest - Free - Surplus - Fund - Investment - TAXSCAN

Bombay HC deletes addition on Interest Expenditure on availability of Interest-Free Surplus Fund to make Investment [Read Order]

February 23, 2023

Income Tax Department - Delay - Assessee - Refund - Bombay High Court - Additional Refund - Taxscan

Income Tax Department’s Delay to comply with Assessee’s Refund Request: Bombay HC Directs to Issue Additional Refund [Read Order]

February 22, 2023

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Custom - Seal Immovable Property - Bombay Highcourt - Immovable Property - taxscan

Custom does not possess the Authority to Seal Immovable Property: Bombay HC [Read Order]

March 31, 2023

A Division bench of the Bombay High Court recently held that the Custom authorities do not possess any power to seal the premises of a person alleged to be involved in smuggling of goods. The Petitioner, while seeking to de-seal his premises, sought relief to record his statement under Section 108 of Customs Act, 1962 […]

Technical knowhow Fees - Assessable Value - Imported Goods - CESTAT - Customs - Excise - Service Tax - Taxscan

Technical knowhow Fees not to be included in Assessable Value of Imported Goods: CESTAT [Read Order]

March 31, 2023

The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ), observed that Technical know-how fees need not be included in the assessable value of imported goods. The respondent in the present matter is M/s Diabu Diamond Tools (I) Pvt Ltd. R. Rajaraman appeared and argued for the Department. It is […]

Know why Minors received Income Tax Notices from the Department for Bank Transactions

March 31, 2023

The Reserve Bank of India (RBI) has introduced the Liberalised Remittance Scheme (LRS), allowing Indian citizens to send up to $250,000 abroad for various legal purposes. However, recent notices from the Income Tax Department to parents of minors have raised questions about the use of bank accounts held in the name of minors for remittance […]

Bearer Cheque - forged Signatures of Assessee - forged Signatures - ITAT - taxscan

No Addition can be made on account of Amount against Bearer Cheque having forged Signatures of Assessee: ITAT [Read Order]

March 31, 2023

The Income Tax Appellate Tribunal (ITAT), Amritsar Bench, has recently, in two appeals filed before it by the assessee, held that no addition can be made on account of the amount against bearer cheque having forged signatures of the assessee. The aforesaid observation was made by the Amritsar ITAT, when appeals were filed before it […]

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Custom does not possess the Authority to Seal Immovable Property: Bombay HC [Read Order]

March 31, 2023

Technical knowhow Fees not to be included in Assessable Value of Imported Goods: CESTAT [Read Order]

March 31, 2023

Know why Minors received Income Tax Notices from the Department for Bank Transactions

March 31, 2023

No Addition can be made on account of Amount against Bearer Cheque having forged Signatures of Assessee: ITAT [Read Order]

March 31, 2023

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