Judgment:- The Calcutta High Court while providing temporary relief to the Knight Riders restrained the Adjudicating Authorities under PMLA from issuing any notice of hearing on the basis of the provisional order of attachment. Facts of the case:- The petitioner, Knight Riders argued that, despite a …
Judgement:- The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Delhi Bench held that the burden of proof for alleged clandestine removal of goods is upon the department. Facts of the case:- The present order disposes of four appeals arising out of the order of Commissioner, …
Judgement:- The Income Tax Appellate Tribunal (ITAT), Delhi Bench deleted the penalty on account of alleged concealment of Income. Facts of the case:- The notices under section 153A of the Income Tax Act, 1961 were issued along with questionnaires were issued to the assessee, and the …
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench allowed the Long-Term Capital Loss arising from the sale of Government Securities after applying the Cost Inflation Index. Facts of the case:- The assessee, Peerless General Finance & Investment Company Limited in the present case is a Non-Banking …
Judgement:- The Income Tax Appellate Tribunal (ITAT), Chandigarh bench, while granting relief to a 70-year old taxpayer, quashed re-assessment under Sec.148 of the Income Tax Act since the same was passed mechanically without application of mind. Facts of the case:- The Order was passed in an …
1. The Central Board of Direct Taxes (CBDT) notified the new Income Tax Form 15E and Rule 29BA for application for grant of certificate for determination of the appropriate proportion of sum (other than Salary), payable to a non-resident, chargeable in case of the recipients. The …
Judgement:- The Income Tax Appellate Tribunal (ITAT), Cuttack Bench ruled that no interest is leviable if TDS is timely deducted and paid to the Government exchequer. Facts of the case:- The assessee, Srabani Constructions Pvt Ltd. was engaged in the real estate business and had paid …
a) The Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. The search operation is being carried out at Mumbai, Pune, Delhi, and Hyderabad. The …
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench upheld the order passed by CIT(A) wherein the disallowance of Rs.4,02,837 on account of interest on office loan was confirmed. Facts of the case:- The assessee United Teleservices Ltd. appealed against the action of CIT(A) in confirming the …
