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Revenue’s Test Report held Inconclusive: CESTAT allows Classification of Mineral Hydrocarbon Oil as High-Speed Diesel as per Bill of Entry [Read Order]

The Customs Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai held the alleged case of misdeclaration made by the Revenue not sustainable as...

Charitable Trust engaged solely in Educational Purposes can avail Exemption under Income Tax Act:...

Compensation Received by Assessee as Salary Received in Advance: ITAT holds Assessee can Avail...

Defect in Proper Notice u/s 274 vitiates the Assumption of Jurisdiction by AO: ITAT [Read Order]

Re-Assessment: Madras HC quashes Communication rejecting Objections and directs Income Tax Dept to...

Transactional Net Margin Method is the Most Appropriate Method for Benchmarking the License fees and Management Fees: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench comprising Shri George George K, JM, and Ms. Padmavathy S, AM has held that Transactional Net Margin Method is the Most Appropriate Method...

Service Tax leviable on Receipt of Services relating to General Back Office and Operational Support from Foreign Entity: Supreme Court [Read Judgment]

A division bench of the Supreme Court has reversed the order of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore, by holding that service tax is leviable on the amount...

Third Party Shareholders Renouncing Rights Shares in Favour of the Assessee is Liable to Tax u/s 56(2): ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that third party shareholders renouncing rights shares in favour of the assessee are liable to tax u/s 56(2). The appellant,...

Income Tax Penalty not leviable in the Absence of Specific Charge against Assessee: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench comprising Shri Mahavir Singh, Vice President and Shri Manoj Kumar Aggarwal, AM has held that the income tax penalty levied under section...

PAN of Assessee Transferred to Another Place: Delhi HC quashes Assessment Order as without Jurisdiction [Read Order]

A division bench of the Delhi High Court comprising Justice Manmohan ands Justice Dinesh Kumar Sharma has quashed an assessment order by observing that the PAN of the assessee is transferred to...

CBDT Circular prohibiting Freebies to Doctors does not applicable to Distributor of Generic Medicines, without Evidence: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the circular issued by the Central Board of Direct Taxes (CBDT) prohibiting freebies to doctors by pharma companies has no...

NRI couldn’t Prove Source of Cash Deposit during Demonetization: ITAT upholds Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore has upheld an addition against a non-resident Indian (assessee)since the assessee was unable to prove the cash deposit during demonetization. ...

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