![Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/liability-still-payable-Books-of-Account-ITAT-TAXSCAN.jpeg "Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]")
Provisions of Section 41(1) cannot apply when liability is still payable to Sundry Creditor and not written off in Books of Account: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), held that Provisions of section 41(1) of the Income Tax Act, 1961 cannot apply when...
![Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Addition-Concealment-Income-Penalty-ITAT-TAXSCAN.jpg "Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]")
![No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/violation-Payment-Cash-Purchases-Exceeding-ITAT-Revisional-Order-TAXSCAN.jpeg "No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]")
![MAT Credit of Transferee Company can be carried forward and set off against Tax Liability of Amalgamated Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/MAT-Credit-Transferee-Company-Tax-Liability-ITAT-TAXSCAN.jpeg "MAT Credit of Transferee Company can be carried forward and set off against Tax Liability of Amalgamated Company: ITAT [Read Order]")
![Interest on Income Tax Refund u/s244Acovers under ‘Debt claim of every kind ’as per India Italy DTAA, No TDS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Income-Tax-Refund-Debt-claim-DTAA-TDS-ITAT-TAXSCAN.jpeg "Interest on Income Tax Refund u/s244Acovers under ‘Debt claim of every kind ’as per India Italy DTAA, No TDS: ITAT [Read Order]")
Computer Education Service not eligible for exemption under Vocational Training, Service Tax leviable: CESTAT [Read Order]
The Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the Computer Education service was not eligible for exemption under the vocational training and was...
![Computer Education Service not eligible for exemption under Vocational Training, Service Tax leviable: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Computer-Education-service-Service-tax-CESTAT-TAXSCAN.jpg "Computer Education Service not eligible for exemption under Vocational Training, Service Tax leviable: CESTAT [Read Order]")
Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the penalty under section 271AAB of the Income Tax Act, 1961 is not leviable on the basis of disclosure...
![Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessee-Penalty-ITAT-TAXSCAN.jpg "Disclosure of Undisclosed by Other Persons during Search Not Binding on Assessee, Penalty u/s 271AAB Not Leviable: ITAT [Read Order]")
CESTAT sets asides Demand of Service Tax based on Expected Revenue and Expenses and not on Actual amounts realized [Read Order]
The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Kolkata has set-asides demand of service tax based on expected revenue and expenses and not on actual amounts realized. The...
![CESTAT sets asides Demand of Service Tax based on Expected Revenue and Expenses and not on Actual amounts realized [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/CESTAT-Demand-of-Service-Tax-Revenue-and-Expenses-Actual-amounts-taxscan.jpeg "CESTAT sets asides Demand of Service Tax based on Expected Revenue and Expenses and not on Actual amounts realized [Read Order]")
Relief to Britannia: Revision without Proper Inquiry, ITAT quashes Revision order passed u/s 263 [Read Order]
In the case of Britannia Industries Ltd, the Income Tax Appellate Tribunal (ITAT), Kolkata bench has quashed the revision order passed under section 263 since the revision was conducted without...
![Relief to Britannia: Revision without Proper Inquiry, ITAT quashes Revision order passed u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Britannia-Inquiry-ITAT-Revision-order-taxscan.jpeg "Relief to Britannia: Revision without Proper Inquiry, ITAT quashes Revision order passed u/s 263 [Read Order]")
'Erection, Commissioning and Installation Services’ only cover Service Contracts: CESTAT sets aside Demand for Value of Goods/Material supplied under Supply Work Orders
The Kolkata bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that 'Erection, Commissioning and Installation Services’ only cover service contracts and set-asides demand...
Currency is not Goods liable to be Seized under Customs Act: CESTAT directs to Redeem Currency confiscated for Violation of FEMA notification on Payment of Fine and Penalty [Read Order]
The Customs, Excise and Service Tax Appellate Tribunal, Kolkata bench has held that currency is not goods liable to be seized under customs act and directs to redeem currency confiscated for...
![Currency is not Goods liable to be Seized under Customs Act: CESTAT directs to Redeem Currency confiscated for Violation of FEMA notification on Payment of Fine and Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Currency-Goods-Customs-Act-CESTAT-Redeem-Currency-FEMA-notification-Payment-Fine-Penalty-taxscan.jpg "Currency is not Goods liable to be Seized under Customs Act: CESTAT directs to Redeem Currency confiscated for Violation of FEMA notification on Payment of Fine and Penalty [Read Order]")
Denial of Modvat Credit not sustainable without substantiating with Corroborative Evidence: CESTAT [Read Order]
The Kolkata bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the denial of Modvat credit was not sustainable without substantiating with corroborative evidence. ...
![Denial of Modvat Credit not sustainable without substantiating with Corroborative Evidence: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Modvat-Credit-corroborative-evidence-CESTAT-taxscan.jpeg "Denial of Modvat Credit not sustainable without substantiating with Corroborative Evidence: CESTAT [Read Order]")