Tax Guru3m
Mere cash deposits not constitutes turnover for Section 44AB Audit: ITAT Delhi
In Mohd Javed vs. Income Tax Officer (ITO), the Delhi ITAT addressed an appeal concerning a penalty under Section 271B of the Income Tax Act, imposed due to unreported turnover. Javed, a commission ...
Tax Guru6m
National Green Tribunal: Role, Jurisdiction and Challenges
The National Green Tribunal (NGT) of India is a unique judicial authority constituted to address environmental disputes and implement environmental laws. This authority was established through the ...
Tax Guru7m
Understanding Invoice Management System for ITC
Answer: By reflecting accurate invoice and ITC information in the IMS, the system helps align supplier and recipient records, reducing discrepancies that could trigger mismatch notices from the tax ...
Tax Guru7m
Section 271B Penalty on Mother Dairy Agent Quashed by ITAT
“1. The appellant is an ex-serviceman. The appellant had the income from the pension and commission from Mother Dairy. That he was allotted the Milk booth on the ground that he is a ex-servicemen as ...
Tax Guru6m
Appeal for Early Hearing to Waive GST Interest & Penalties – Section 128A
Section 128A of the Central Goods and Services Tax (CGST) Act, 2017, introduced effective November 1, 2024, provides a conditional waiver of interest and penalties for specific tax demands under ...
Tax Guru9h
Payment by Google Ireland not in nature of royalty is not taxable in India: ITAT Bangalore
ITAT Bangalore held that payments made by [Google Ireland Limited] GIL towards Adwords program is not in the nature of royalty or FTS [Fees for Technical Service] and hence the same is not taxable in ...
Tax Guru14h
Revised Classification Criteria for Non-Company Entities in Accounting Standards
The Institute of Chartered Accountants of India (ICAI) has revised the classification criteria for non-company entities concerning the applicability of Accounting Standards. Effective April 1, 2024, ...
Tax Guru9h
Dismissal of appeal merely because appeal was filed manually instead of e-filing unjustified: ITAT Ahmedabad
ITAT Ahmedabad held that dismissal of appeal by CIT (A) on technical/ procedural aspect merely because the appeal was filed manually instead of e-filing unjustified as assessee was not given an ...
Tax Guru9h
Action of AO based on High Court decision not erroneous hence jurisdiction u/s. 263 unjustified
ITAT Chennai held that action of AO based on jurisdictional High Court decision as prevalent on the specified time, which was later on reversed by the Supreme Court, cannot be held to be erroneous and ...
Tax Guru9h
Deduction u/s. 54EC admissible as nexus between advance from sale of property and investment in NHAI bonds established
ITAT Ahmedabad held that benefit of deduction under section 54EC of the Income Tax Act allowed since nexus between advance received towards sale of property and investment made in NHAI bonds ...
Tax Guru9h
Appeal dismissed as tax effect below monetary limit as specified by CBDT: ITAT Kolkata
ITAT Kolkata dismissed the appeal preferred by the revenue since tax effect is below the threshold specified by CBDT vide circular no. 5 of 2004 dated 15.03.2024 and also the case doesn’t fall under ...
Tax Guru9h
AO not permitted to take different stand on same issue over different years: ITAT Chennai
ITAT Chennai held that an AO is not permitted to take different stand on the same issue and same set of facts over different years. Thus, exemption u/s. 11 granted in spite of the fact that return was ...