Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
Additional evidence in departmental appeals may include show-cause-notice material without introducing a new case where it merely corroborates existin...
Reasoned rectification orders require consideration of expenditure disclosed in income-tax returns, preventing revision based on incomplete income com...
Modified returns after business reorganisations cannot trigger fresh scrutiny once the original assessment was complete, invalidating related transfer...
Page of 4891
Press 'Enter' after typing page number.
21 to 40 of 97820 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Stock exchange charges for delivery, reporting, margin and other operational or procedural lapses were treated by the ITAT as non-statutory compensatory payments incurred to secure compliance under exchange bye-laws and regulations. Their description as penalties or fines in the tax audit report did not make them expenditure for an offence or a purpose prohibited by law under Explanation 1 to section 37(1); the disallowance was deleted. A deduction claim for health and education cess, made in good faith under prevailing jurisdictional High Court law, did not become under-reporting or misreporting merely because a later retrospective amendment disallowed it. The related penalty was therefore deleted.
Stock exchange charges for delivery, reporting, margin and other operational or procedural lapses were treated by the ITAT as non-statutory compensatory payments incurred to secure compliance under exchange bye-laws and regulations. Their description as penalties or fines in the tax audit report did not make them expenditure for an offence or a purpose prohibited by law under Explanation 1 to section 37(1); the disallowance was deleted. A deduction claim for health and education cess, made in good faith under prevailing jurisdictional High Court law, did not become under-reporting or misreporting merely because a later retrospective amendment disallowed it. The related penalty was therefore deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
