Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
Regarding the disallowance of late deposit of ESI/PF u/s 36(1)(va), following the Supreme Court's ratio in Checkmate Services, the ITAT allowed the Revenue's ground and upheld the Assessing Officer's addition. Concerning the disallowance on account of sundry creditors, the assessee had written off the credit balances during the subsequent year, and reversing the addition would amount to double taxation; hence, the ITAT dismissed the Revenue's ground. Pertaining to the disallowance of depreciation at 25% on the opening WDV of intellectual property rights, the ITAT held that the merger effectively took place in FY 2013-14, and the assets, including the patented technology's value accepted by the High Court, merged with the assessee company. The Assessing Officer erred by passing the assessment order on a standalone basis despite knowledge of the amalgamation. The tax authorities are bound to consider the assessee's state of affairs as on 01/04/2013, and the return filed reflecting the consolidated balance sheet should have been accepted. The value of the patent technology was accepted by the High Court and the Assessing Officer in the scrutiny proceedings for AY 2014-15. Therefore, the CIT.
Regarding the disallowance of late deposit of ESI/PF u/s 36(1)(va), following the Supreme Court's ratio in Checkmate Services, the ITAT allowed the Revenue's ground and upheld the Assessing Officer's addition. Concerning the disallowance on account of sundry creditors, the assessee had written off the credit balances during the subsequent year, and reversing the addition would amount to double taxation; hence, the ITAT dismissed the Revenue's ground. Pertaining to the disallowance of depreciation at 25% on the opening WDV of intellectual property rights, the ITAT held that the merger effectively took place in FY 2013-14, and the assets, including the patented technology's value accepted by the High Court, merged with the assessee company. The Assessing Officer erred by passing the assessment order on a standalone basis despite knowledge of the amalgamation. The tax authorities are bound to consider the assessee's state of affairs as on 01/04/2013, and the return filed reflecting the consolidated balance sheet should have been accepted. The value of the patent technology was accepted by the High Court and the Assessing Officer in the scrutiny proceedings for AY 2014-15. Therefore, the CIT.
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