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The Mumbai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that the taxpayer is qualified for CENVAT credit on inputs and input services utilised for the production of electricity, which are transferred to its sister unit at Urse free of charge. The bench of Ajay Sharma (Judicial Member) witnessed that no allegation […]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that the addition could not be deleted for the only cause that the section under which the addition is made is cited incorrectly and that it is essential to look into the merits of the case. The bench of Anikesh Banerjee (Judicial Member) and Padmavathy […]
Income Tax Appellate Tribunal (ITAT) Delhi’s recent decision in the matter of Oriental Bank of Commerce vs. ACIT (ITAT Delhi) has influential implications for the treatment of bad debts claimed by the bank u/s 36(1)(vii) of the Income Tax Act, 1961. The petition related to the AY 2017-18 and was filed against the order of […]
The order is been quashed by the Madras High Court as the chance of hearing was denied due to the failure of the taxpayer to tap on the pertinent button. The personal hearing is required to be extended but the taxpayer may lose to tap on the pertinent button, a bench of Justice Mohammed Shaffiq […]
A reassessment order against a housewife when the alleged investment was made by her husband has been quashed by the Bombay High Court. The bench of Justice K. R. Shriram and Justice Neela Gokhale has noted that “We also have to notice that, surprisingly, the Principal Chief Commissioner of Income Tax has also accorded sanction […]
The taxpayer is not anticipated to keep the e-portal of the department open all the time to know about what the department is supposed to be doing, Punjab and Haryana High Court ruled. The bench of Justice Sanjeev Prakash Sharma and Justice Sudeepti Sharma noted that before any action is carried out, a communication of […]
The Delhi High Court ruled that just as a taxpayer does not file the returns for some period does not indicate that the taxpayer’s registration is directed to be cancelled with a retrospective date. The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja, in terms of Section 29(2) of the Act, the proper officer […]
The assessment order is been cancelled by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) without recording valid satisfaction before issuing notice under Section 153C of the Income Tax Act, 1961. When a search was performed by the council the taxpayer Dilip B Patel was not searched. But an investigation was performed on […]
The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav noted that clause (a) of Explanation 2 of Section 263 of the Act introduces a deeming fiction to the effect that the order passed via the AO will be acknowledged wrong and prejudicial to the interests of the revenue if the order is passed […]
