Judgement

The ITAT Mumbai held that liability accrued under Mercantile System cannot be disallowed merely because it remained unpaid.

ITAT Holds Accrued Share of Profit Expense Allowable Despite Non-Payment

The ITAT Mumbai deleted an addition of Rs 76.92 lakh made under Section 69 of the Income Tax Act towards alleged cash payment to a builder for purchase of a flat.


ITAT Holds Alleged Cash Payment Cannot Sustain Addition Without Independent Enquiry or Material Evidence

News

Urban Company faces a Rs 3.04 crore GST notice over alleged incorrect ITC claims and tax short payment, which the company has rejected.

Urban Company Faces Rs 3.04 Crore GST Claim Including Interest and Penalty, Rejects Allegations of Wrong ITC and Tax Underpayment

LG Electronics India has received a Rs 153.57 crore Customs Duty show cause notice alleging non-inclusion of royalty payments in the assessable value of certain imported goods.

DRI Alleges Short Payment of Customs Duty by LG Electronics India; Sends Recovery SCN of Rs 153.57 Crore

ITAT granted a fresh opportunity to a liquor retailer to substantiate cash deposits and payments to Karnataka State Beverages Corporation, subject to a Rs. 10,000 PMNRF deposit.

ITAT Gives Fresh Chance to Liquor Retailer in Rs 10,000 PMNRF Unexplained Deposit Case After She Produces New Evidence

The Bombay High Court holds GIA India Not Liable to Deduct TDS on Payments to GIA US.

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ITAT Holds Accrued Share of Profit Expense Allowable Despite Non-Payment

ITAT Holds Alleged Cash Payment Cannot Sustain Addition Without Independent Enquiry or Material Evidence

Urban Company Faces Rs 3.04 Crore GST Claim Including Interest and Penalty, Rejects Allegations of Wrong ITC and Tax Underpayment

DRI Alleges Short Payment of Customs Duty by LG Electronics India; Sends Recovery SCN of Rs 153.57 Crore

ITAT Gives Fresh Chance to Liquor Retailer in Rs 10,000 PMNRF Unexplained Deposit Case After She Produces New Evidence

High Court Holds AO Cannot Disregard Binding ITAT Ruling on Permanent Establishment