Relief to Oriental Structural Engineers: SC upholds Arbitration Tribunal’s Award to Refund or Deduct Overpaid Tax [Read Judgement]
The Supreme Court bench of Justice M.M. Sundaresh and Justice J.B. Pardiwala presiding, provided relief to Oriental Structural Engineers by endorsing...
![ITAT directs Recomputation of Gain on grounds of AO failing to Treat surplus Amount as Short Term Capital Gain without giving benefit of Indexation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-recomputation-of-gain-AO-failing-to-treat-surplus-amount-as-short-term-capital-gain-benefit-of-indexation-short-term-capital-gain-taxscan.jpg "ITAT directs Recomputation of Gain on grounds of AO failing to Treat surplus Amount as Short Term Capital Gain without giving benefit of Indexation [Read Order]")
![Relief to Hindustan Unilever: ITAT deletes disallowance made towards foreign travel expenses of spouses of employees of company who accompanied business tour [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-to-Hindustan-Unilever-ITAT-deletes-disallowance-expenses-of-spouses-of-employees-of-company-business-tour-employees-of-company-taxscan-1.jpg "Relief to Hindustan Unilever: ITAT deletes disallowance made towards foreign travel expenses of spouses of employees of company who accompanied business tour [Read Order]")
![Execution of Contract for Delivery of Goods is Taxable event in Contract for Transfer of Right to use Goods under KVAT Act: Kerala HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Execution-of-Contract-Delivery-of-Goods-Contract-for-Transfer-Goods-under-KVAT-Act-Kerala-Highcourt-taxscan.jpg "Execution of Contract for Delivery of Goods is Taxable event in Contract for Transfer of Right to use Goods under KVAT Act: Kerala HC [Read Order]")
![Departmental Inquiry against Government Servant not Casual Exercise: Allahabad HC quashes Suspension of Assistant Commissioner of State Tax made without Merit [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Departmental-Inquiry-Government-Servant-Allahabad-HC-quashes-Suspension-of-Assistant-Commissioner-of-State-Tax-Assistant-Commissioner-of-State-Tax-Allahabad-HC-quashes-Suspension-taxscan.jpg "Departmental Inquiry against Government Servant not Casual Exercise: Allahabad HC quashes Suspension of Assistant Commissioner of State Tax made without Merit [Read Order]")
All known Losses should be Provided even if it is not Actually Incurred: ITAT deletes Addition on Valuation of Closing Stocks [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that that there is no reason to disbelieve the value of closing work in progress disclosed by the assessee, thus set aside the order...
![All known Losses should be Provided even if it is not Actually Incurred: ITAT deletes Addition on Valuation of Closing Stocks [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Losses-ITAT-Deletes-Addition-on-Valuation-of-Closing-Stocks-Valuation-of-Closing-Stocks-Closing-Stocks-Valuation-ITAT-Deletes-Addition-taxscan.jpg "All known Losses should be Provided even if it is not Actually Incurred: ITAT deletes Addition on Valuation of Closing Stocks [Read Order]")
Education Trust cannot Claim Income Tax Exemption u/s 10(23C)(vi) of Income Tax Act If Activities Include Medical Objectives: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) denied income tax exemption under Section 10(23C)(vi) of Income Tax Act,1961 for income earned from educational institution to charitable...
![Education Trust cannot Claim Income Tax Exemption u/s 10(23C)(vi) of Income Tax Act If Activities Include Medical Objectives: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Education-Trust-cannot-Claim-Income-Tax-Exemption-Income-Tax-Act-Income-Tax-Exemption-Income-Tax-Education-Trust-Medical-Objectives-ITAT-taxscan.jpg "Education Trust cannot Claim Income Tax Exemption u/s 10(23C)(vi) of Income Tax Act If Activities Include Medical Objectives: ITAT [Read Order]")
Facility Management Services Income Taxable as "Business Income", Eligible for Applicable Statutory Deductions: ITAT directs Re-Determination of Income [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal Held that Commissioner of Income Tax (Appeals) [CIT (A)] defaulted in recharacterizing the rental income as business income and arbitrarily...
![Facility Management Services Income Taxable as Business Income, Eligible for Applicable Statutory Deductions: ITAT directs Re-Determination of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Facility-Management-Services-Income-Business-Income-Statutory-Deductions-ITAT-directs-Re-Determination-of-Income-Deductions-Re-Determination-of-Income-taxscan.jpg "Facility Management Services Income Taxable as Business Income, Eligible for Applicable Statutory Deductions: ITAT directs Re-Determination of Income [Read Order]")
Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]
The Indore Bench of Income Tax Appellate Tribunal (ITAT), held that instead of conducting any verification in compliance of the direction of the Tribunal, the Assessing Officer has made straight away...
![Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Repetition-of-Addition-Addition-Income-Tax-Addition-Repetition-of-Addition-by-AO-AO-Non-Compliance-to-Order-Verification-ITAT-deletes-Addition-ITAT-taxscan.jpg "Repetition of Addition by AO Without Verification and Non-Compliance to Order of Tribunal: ITAT deletes Addition [Read Order]")
Special Effects&3D Conversion Services not Video Tape Production Service u/s 65(120) of Finance Act,1994: Supreme Court [Read Judgement]
In a recent case, the Supreme Court has held that the 3D conversion services provided by the assessee, including services such as ‘imparting special effects’, ‘post-production service’, ‘digital...
![Special Effects&3D Conversion Services not Video Tape Production Service u/s 65(120) of Finance Act,1994: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/07/Conversion-Services-not-Video-Tape-Production-Service-Finance-Act-taxscan.jpg "Special Effects&3D Conversion Services not Video Tape Production Service u/s 65(120) of Finance Act,1994: Supreme Court [Read Judgement]")
Real Estate Firm utilised Allottee's Money for 18 Months: REAT directs to Pay 12% Interest [Read Order]
In a significant judgment, the Kerala Real Estate Appellate Tribunal (REAT) has directed respondent Shobha Ltd to pay 12% interest for receiving and utilising the allottee's money for 18 months...
