ITAT Hyderabad held that penalty under section 221(1) of the Income Tax Act duly leviable for non-payment of self-assessment ...

Chennai ITAT ruled a S. 271D penalty time-barred, holding that the six-month limitation period starts from the AO's recorded ...

AAR states that pre-packaged and labelled goods for export, including frozen shrimp up to 25 kg, fall under the Legal Metrology Act and are thus subject to GST under Notification ...

The Andhra Pradesh AAR has ruled that the export of processed frozen shrimps, packaged in quantities up to 25kg, attracts GST liability as it falls under the pre-packaged and labelled definition of ...

The Tribunal ruled that the cross-charged fee for use of third-party software does not qualify as Royalty as the payment is for a copyrighted article and not the transfer of copyright rights. This ...

The ITAT Delhi quashed a rectification order under Section 154, holding that a debatable issue regarding provision for construction expenses is not a "mistake apparent from record." The ruling ...

BCAS submits comments on RBI’s draft External Commercial Borrowings (ECB) regulations, seeking clarity on eligibility, KYC norms, borrowing limits, pricing, and reporting ...

The ITAT Mumbai quashed a revisionary order under Section 263, ruling that the Assessing Officer's detailed scrutiny into the Rs.124 crore business loss was adequate.2 The Tribunal confirmed that when ...

The ITAT allowed the assessee's appeal, holding that the PCIT's order under Section 263 was unsustainable because it failed to cite any specific instance where the AO neglected to verify the alleged ...

The ITAT followed its earlier ruling for the German financial institution, confirming that the management/processing fee was a component of the loan financing and not a fee for technical services. The ...

The ITAT Mumbai ruled that an assessment made against a duplicate "Company PAN" for a non-existent entity was void ab initio. This led to the deletion of a ₹3.18 crore cash addition, as the bank ...

The ITAT Ahmedabad invalidated the entire Section 143(1) intimation because the CPC made an adjustment regarding the leave encashment exemption without issuing the mandatory prior notice. The Tribunal ...