Tax Guru9h
Department cannot pass an order on dated personal hearing: Madras HC
The Joint Commissioner (“the Respondent-2”) issued another SCN on April 07, 2021 and granted final opportunity to the Petitioner for filing objections on or before April 12, 2021 and directed to ...
Tax Guru9h
Order justified as reply not furnished even after providing extra demanded time: Madras HC
Madras High Court held that petitioner didn’t furnished the reply even after providing the extra time limit as requested by ...
Tax Guru9h
Refund of redemption fine and penalty directed due to delay in de novo proceedings: Madras HC
Madras High Court held that due to unwanted delay in de novo proceedings by the Additional Commissioner of Customs, the refund claim of redemption fine and penalty is directed to be processed.
Tax Guru9h
Resolution plan duly approved as gratuity and provident fund of workers admitted in full: NCLAT Delhi
NCLAT Delhi held that no error has been committed by the Adjudicating Authority in approving the Resolution Plan. Since the ...
Tax Guru9h
Customs duty exempt on manufacturing of stainless steel coils under Advance Authorisation Scheme
CESTAT Allahabad held that customs duty leviable on manufacturing of stainless steel coils under Advance Authorisation Scheme ...
Tax Guru9h
Gravity of charge against CIT(A) diluted when ITAT remanded matter back to AO: Gauhati HC
Gauhati High Court held that gravity of charge against CIT (A) has been diluted when the ITAT has remanded the matter to the ...
Tax Guru9h
Delay in filing of return condoned in terms of genuine hardship: Madras HC
Madras High Court held that delay in filing returns of income and seeking refund thereof is condoned in terms coverage within the scope of the expression ‘genuine hardship’ in section 119 (2) (b) of ...
Tax Guru9h
No Disallowance under Rule 8D if interest-free funds were adequate to cover investments
The AO, however, disallowed a portion of the interest expenditure under Rule 8D (2) (ii) of the Income Tax Rules, 1962, stating that the company had incurred interest expenses of Rs. 26,27,659. The AO ...
Tax Guru9h
Lack of evidence of non-compliance with issued notices: ITAT Quashes Section 272A(1)(C) penalty
2. 30,0001-, The Id. CIT erred in law as well as on the facts in confirming the imposition of penalty u/s 272A (1) (C) of Rs. 30,000/-. The penalty so imposed being totally contrary to the provisions ...
Tax Guru9h
GST on Buy One Get One Free Scheme, Secondary Discounts & issuance of Credit Notes
Summary: The Central Board of Indirect Taxes and Customs (CBIC) clarified the GST compliance for schemes like “Buy One Get One Free” (BOGO) and secondary discounts through a circular issued on March 7 ...
Tax Guru9h
No Section 69 addition for Unsecured Loans Recorded in Husband’s Business Ledger
Kavita Samtani, a business owner running a beauty salon, appealed against five assessment orders stemming from a search and seizure operation on March 29, 2018. The search targeted her residential ...
Tax Guru9h
ITAT Upholds Addition for Property Investment Due to Insufficient Evidence Linking Withdrawals to Transaction
However, regarding the addition of Rs. 12,20,600 for the property investment, the ITAT concurred with the CIT (A) that there was no sufficient linkage between Smt. Yashoda Devi’s withdrawn amount and ...