The AO accepted this rationale, concluding that the interest expense was a business expenditure under Section 36 (1) (iii) and did not warrant disallowance under Section 14A. The ITAT upheld the AO’s ...

AO had raised specific queries on the legal expenses during the assessment proceedings, and that a detailed explanation was furnished in response. ITAT observed that while the AO’s final order did not ...

e) The sanction as required under section 151 of the Act has not been obtained from the Commissioner of Income Tax before issue of notice under section 148 of the Act or having been obtained, the copy ...

In the case Kamlesh Kantilal Bhandari vs ITO, ITAT Pune considered an appeal challenging the confirmation of an addition of ₹24.25 lakh as unexplained cash deposits made to the assessee’s bank account ...

7. The learned authorized representative submitted that the learned assessing officer has made the addition u/s 69 of the income tax act on account of unexplained cash deposits in bank accounts. He ...

The Income Tax Appellate Tribunal (ITAT), Kolkata, has set aside a penalty of ₹1 crore imposed on Tarai Transport Corporation ...

The Central Excise and Service Tax Appellate Tribunal (CESTAT), Delhi, allowed the appeal filed by Northern Coalfields ...

2. The issue regarding levy of penalty under section 271 (1) (c) of the Act is the addition of Rs. 5,15,899/- as made by the Ld. AO in the assessment order on assumption basis. Hence, the case of the ...

It is settled law that notice issued u/s. 148 of IT Act by the Assessing Officer, having no jurisdiction, the assessment order and consequent pro-ceedings are invalid. Reliance is placed on following ...

b. Non-payment of service tax on ‘liquidated damages’ or ‘penalty’ to the extent of Rs. 10,12,79,544/-; and c. Non-payment of service tax on ‘hire charges’ amounting to Rs. 5,79,343/-.

To issue other securities (like convertible debentures or preference shares), one must invoke Section 42 (Private Placement) ...

Your CIBIL score for an education loan influences whether your loan gets approved. Lenders primarily check your credit ...