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Refund of Service Tax paid by Mistake cannot be denied on grounds of Limitation: Karnataka HC [Read Order]

A division bench of the Karnataka High Court has held that Justice P.S. Dinesh Kumar and Mr. Justice Anant Ramanath Hegde has held that the...

Extended Period of Limitation cannot be invoked when CENVAT Credit availed on Bona Fide belief and...

Addition of Unexplained Cash u/s 69 is not sustainable when the Genuineness of Transaction proved:...

TDS not applicable to Client Referral Fee as It won’t amount to FTS: ITAT [Read Order]

Income Tax Dept shall not Deny TDS Credit to Assessee once It is Deducted by Employer/Deductor and...

Benefit not derived on Compulsory Afforestation done over Land not owned by Assessee: ITAT upholds deletion of Addition made on NPV [Read Order]

In a ruling in favour of Orissa Minning Corporation the Cuttack Bench, of the Income Tax Appellate Tribunal ( ITAT ), held that benefits were not derived from compulsory afforestation done on land...

Loan amount received through proper Banking Channel and Confirmation Letter also filed: ITAT sets aside Addition as Genuineness of Transaction proved [Read Order]

Income Tax Appellate Tribunal (ITAT), Chennai sets aside addition as genuineness of transaction was proved by assessee as loan amount was received through proper banking channel and confirmation...

Deliberate Delay in filing Appeal and Deposit of Fee under Wrong Head: ITAT upholds Dismissal of Appeal [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the deliberate delay in filing an appeal and depositing of appeal fee under the wrong head would show the irresponsible and...

Excise Duty Exemption is Capital Receipt, neither chargeable to Income Tax nor categorised under Book Profit: ITAT [Read Order]

The Kolkata Bench, of the Income Tax Appellate Tribunal, held that excise duty exemption is a capital receipt which neither chargeable to Income Tax nor categorised under book profit. The assessee...

Relief to Times Internet: Consultation Fee paid to EY Allowable as Expenditure, rules ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, while allowing relief to Times Internet, allowed the consultation fee paid to EY as business expenditure under the provisions of the Income Tax...

Unexplained Income offered Consolidated basis under PMGKY: ITAT deletes Addition as Unexplained Money u/s 69A [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench presided by Ms Diva Singh, Judicial Member, and Mr Vikram Singh Yadav, Accountant Member has held that unexplained income offered...

Shares are not Intangible Assets U/S 32(1) (ii) and No Depreciation on Purchase Price of Shares: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench presided by Mr. Prashant Maharishi, AM, and Mr. Pavan Kumar Gadale, JM has held that shares are not intangible assets under section 32(1) (ii)...

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