Income Tax Judgements
Aggrieved by the Impugned Order, the Appellant filed Civil Appeal before the Hon’ble Supreme Court of India [Civil Appeal No. 2406-2407 of 2022] which has been admitted vide Order dated November 3, 2023.
Advertisement Tax not leviable on signboards displaying Business information
Bimal Jain 16 October 2023 at 10:12
The Hon'ble Supreme Court in the case of M/s. Harsh Automobiles Pvt. Ltd. v. Indore Municipal Corporation [Civil Appeal No. 5362 of 2023 dated October 09, 2023], held that the signboard affixed for displaying general information about the company wo
Refund application cannot be rejected without giving proper reason
Bimal Jain 02 August 2023 at 16:27
The Hon'ble Delhi High Court in the matter of M/s Chegg India Pvt. Ltd. v. Commissioner of Central Goods and Services Tax [W.P.(c) 14886 of 2022 dated July 19, 2023] held that the refund application cannot be rejected without giving a proper reason a
Lack of access to E-mail is a valid ground for condonation of delay
Bimal Jain 07 July 2023 at 10:35
The ITAT, New Delhi, in Mohammad Saleem v. ITO, Ward 63(3), New Delhi 110002 [ITA No.28/Del/2023 dated June 7, 2023] held that delay of 191 days in filing appeal before the ITAT due to the lack of access to e-mail resulting in non-communication of di
AO cannot take the position of business man to ascertain GP ratio
Bimal Jain 19 June 2023 at 09:41
The ITAT, New Delhi in The ACIT, Circle-47(1), New Delhi v. Ashish Bansal [ITA No.7427/Del/2018 dated June 2, 2023]dismissed the Appeal of the Revenue Department and held that the Commissioner has correctly deleted the addition made by the Assessing
Oil wells are plant and machinery and eligible for higher depreciation
Bimal Jain 12 June 2023 at 09:40
The ITAT, Ahmedabad in the case of M/s.Joshi Technologies International Inc. v. The Asst. Director of Income Tax [ITA Nos. 3456/Ahd/2010 & 3195/Ahd/2011, dated May 19, 2023] held that oil wells are plant and machinery, and accordingly, higher depreci
Court refuses to entertain writ if alternate remedy available
Bimal Jain 07 June 2023 at 15:30
The Hon'ble Madras High Court in the case of Tvl. Sri Maharaja Industries v. The Assistant Commissioner (ST) (FAC) [W.P Nos. 16075, 16077, 16080 and 16082 of 2023 and W.M.P.Nos.15499, 15500, 15501, 15502, 15506, 15508, 15509 & 15511 of 2023, dated Ma
No penalty leviable when income assessed shown in income tax return
Bimal Jain 06 June 2023 at 16:41
The ITAT, Ahmedabad in the matter of the DCIT, Central Circle-1(1), Ahmedabad v. NBM Iron & Steel Trading Pvt. Ltd. [ITA No. 205/Ahd/2022, dated May 17, 2023]held that if an assessee during a survey surrendered his income and later showed that income
The Hon'ble Calcutta High Court in Pramod Kumar Madhogarhia v. The Union of India & Ors. [MAT 729 of 2023 with I.A. No. CAN 1 of 2023 dated May 12, 2023] has set aside the Show Cause Notice ("SCN") issued under Section 148A(b) of the Income Tax Act,
No income tax additions can be made merely relying on a Retracted statement
Bimal Jain 25 May 2023 at 13:24
The ITAT, New Delhi in ACIT v. Surya Global Steel Tubes Ltd[ITA No. 4778/Del/2016 dated May 09, 2023] has held that no income tax additions can be made when source of investment made against the share capital/ premium/ warrants, stands explained, as
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