ITAT Deletes Addition On Consideration Received By German Entity For Offshore Supplies

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that addition on consideration received by the German entity for offshore supplies.The bench of Challa Nagendra Prasad (Judicial Member) and M. Balaganesh (Accountant Member) has observed that the offshore services that primarily involve the offshore supply of drawings and designs are inextricably linked with the offshore supply...

Orissa High Court Allows Expenditure Towards Contribution For Running Of School As Business Expenditure

The Orissa High Court has held that the expenditure towards the contribution for the running of the school is a business expenditure.The bench of Justice S.K. Panigrahi and Justice G. Satapathy has observed that expenditure towards contribution for the running of the school is an expenditure for the smooth functioning of the business of the assessee and also an expenditure wholly and...

Assessee Disclosed Sale Of Agricultural Land In ROI During Scrutiny Assessment: Madras High Court Quashes Reassessment Initiated Beyond 4 Years

The Madras High Court has quashed the reassessment proceedings as the petitioner had disclosed the information with regard to the sale of agricultural land, and all the particulars with regard to the sale of agricultural land were disclosed before the Assessing Officer in full extent.The bench of Justice Krishnan Ramasamy has observed that there is no failure on the part of the petitioner...

Direct Tax Vivaad Se Vishwas Act | Out-Of-Court Settlement Not Litigant's Fundamental Right, Can Be Availed Only As Per Law: Allahabad HC

While dealing with a rejection order under the Direct Tax Vivaad Se Vishwas Act, 2020, the Allahabad High Court has held that a litigant does not have a fundamental or inherent right to claim settlement of dispute outside court. The right being created by statute must be availed in accordance with it.The bench comprising of Justice Saumitra Dayal Singh and Justice Shiv Shanker Prasad...

GST | No Real Use In Relegating Cases Of Undisputed Facts To Forum Of Alternate Remedy : Allahabad High Court

The Allahabad High Court has held that tax cases where the facts are undisputed and there are issues of jurisdiction and violation principles of natural justice involved may not be relegated to the Authorities.The Court held that cases where minimum statutory compliances have been made are generally relegated to the forum of alternate remedy. The bench comprising of Justice Saumitra Dayal...

Income Tax Authority Cannot Dissect An Otherwise Indivisible Contract In Absence Of Legal Provision: Allahabad High Court

The Allahabad High Court has held that an otherwise indivisible contract cannot be dissected by the authorities under the Income Tax Act, in absence of any legal provision allowing such dissection.Agreeing with the principals laid down by the Punjab and Haryana High Court and Karnataka High Court in Pr. Commissioner of Income Tax, TDS-II, Chandigarh Vs. The Senior Manager (Finance), Bharat...

ITAT Imposes Cost Of Rs. 51K For Condoning 33 Days Delay In Filing Appeal

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has imposed a cost of Rs. 51,000 for the 33-day delay in filing the appeal.The bench of Narendra Kumar Choudhry (Judicial Member) and Gagan Goyal (Accountant Member) has set aside the ex-parte order passed by the Commissioner, consequently remanding the case to the file of the Commissioner or decision on merit, but subject to a deposit...

Dept.’s Personal Opinion Not Tangible Material For Reopening Assessment: Calcutta High Court Quashes Reassessment

The Calcutta High Court has quashed the reassessment order on the grounds that the department’s personal opinion is not tangible material for reopening the assessment.The bench of Chief Justice T. S. Sivagnanam and Justice Hiranmay Bhattacharyya has observed that unless glaring omissions are demonstrated or conditions precedent for exercise of the power to reopen assessment are not...

CBDT Notifies Income Tax Exemption To Chhattisgarh Rajya Beej Pramanikaran Sanstha

The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to Chhattisgarh Rajya Beej Pramanikaran Sanstha.The Board empowered under section 10 (46) of the Income-tax Act, 1961 has exempted Chhattisgarh Rajya Beej Pramanikaran Sanstha, a body constituted by the State Government of Chhattisgarh from income tax.The income tax exemption is applicable on grants received...

CBDT Notifies Income Tax Exemption To Maharashtra Council Of Homoeopathy

The Central Board of Direct Taxes (CBDT) has notified the income tax exemption to the Maharashtra Council of Homoeopathy.The Board empowered under section 10 (46) of the Income-tax Act, 1961 has exempted the Maharashtra Council of Homoeopathy which is a Body established under clause No 14 of the Maharashtra Homoeopathy Practitioners’ Act, 1960 by the Maharashtra Government from income...

Tax Cases Weekly Round-Up: 19 November To 25 November, 2023

Delhi High Court Reassessment Notice Severed At Old Address Despite Knowing Assessee’s New Address: Delhi High Court Quashes Assessment Order Case Title: PCIT Versus M/S Dart Infrabuild (P) Ltd. The Delhi High Court has quashed the assessment order as the notice under Section 148 was improperly served as it was sent to the old address, despite the fact that the department was...

MRF Entitled To Re-Credit Of CENVAT Credit If Capital Goods Are Put To Use In Manufacture Of Final Products: CESTAT

The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the assessee, MRF is entitled to a re-credit of cenvat credit if capital goods are put to use in the manufacture of final products.The bench of Vasa Seshagiri Rao (Technical Member) has observed that the assessee has provided sufficient documentary evidence pertaining to the utilization of inputs...