Income Tax Judgements

The CESTAT, Ahmedabad in M/s. NITCO LIMITED v C.C.E. & S.T.-DAMAN [Excise Appeal No.13016 of 2019] has held that the Clearing and Forwarding ("C&F") agent service is an admissible input service in the terms of Rule 2(l) of the CENVAT Credit Rules, 20

The Hon'ble High Court of Madhya Pradesh in the matter of M/s Dhara Enterprises v. Appellate Authority & Joint Commissioner [Writ Petition No.27676 of 2019 dated May 12, 2022] has upheld the order passed by the Revenue Department imposing the tax lia

It was held that from a plain reading of the Explanation 2 to Section 37(1), expenditure incurred towards CSR activities shall not be allowed as 'business expenditure' and shall be deemed to have not been incurred for business. The embargo created by

The CESTAT, Hyderabad in the matter of M/s. VITP Private Limited v Commissioner of Central Tax, Hyderabad [Final Order No: A/30070-30073/2022 dated July 8, 2022] set aside the demand of service tax on refundable security deposit on the grounds that s

The amount spent on cost of improvements to make the property habitable allowable as deduction and indexation while computing the capital gains however the amount spent on personal effects such as refrigerator, air conditioner LED, TVS furniture, din

Section 271(1)(c) cast responsibility upon the AO to reach the clear finding with respect to levy of penalty under the specific charge and if the AO fails to do so then the penalty cannot be levied as such penalty order shall not be maintainable in t

The Hon’ble Income Tax Appellate Tribunal has allowed a plea filed by E& Y challenging the IT Department demand to pay Rs. 6.60 Crores as Tax.

THE MADRAS HIGH COURT has ruled that proceedings under the Insolvency and Bankruptcy Code (IBC), 2016 cannot dilute the rights of the Income Tax Department to reopen the assessment under Section 148 of the Income Tax Act, 1961.

One important aspect which escaped the attention of the Ld. Liquidator & the bench is that there is no provision in the Code for consideration of claim of any party including govt. dues, falling due after the liquidation commencement date. Liquidator

The Hon'ble Bombay High Court in this case held that Tribunal has no power to review its own decision in the case of same assessee in earlier years