Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
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ITAT partly allowed the assessee's appeal. Disallowance of interest on housing loan under s.24(b) and deduction under s.80C towards principal repayment were upheld as no housing loan certificate or sanction letter was produced. Disallowances on sales promotion, travelling expenses, accounting and consultancy charges, bonus and ex gratia, and addition relating to unexplained capital introduction treated as income from other sources were also confirmed for failure to substantiate genuineness and business nexus. Disallowance of consultancy charges and addition under s.68 towards unsecured loans were set aside to the AO for de novo adjudication. On GST disallowance under s.43B, AO was directed to verify actual payment before return filing; this ground was allowed for statistical purposes.
ITAT partly allowed the assessee's appeal. Disallowance of interest on housing loan under s.24(b) and deduction under s.80C towards principal repayment were upheld as no housing loan certificate or sanction letter was produced. Disallowances on sales promotion, travelling expenses, accounting and consultancy charges, bonus and ex gratia, and addition relating to unexplained capital introduction treated as income from other sources were also confirmed for failure to substantiate genuineness and business nexus. Disallowance of consultancy charges and addition under s.68 towards unsecured loans were set aside to the AO for de novo adjudication. On GST disallowance under s.43B, AO was directed to verify actual payment before return filing; this ground was allowed for statistical purposes.
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