Judgement

ITAT holds advertising and promotional expenses incurred on dealers and third parties do not constitute “fringe benefits” to employees.

No FBT on Dealer-Oriented Sales Promotion Spend; ITAT Deletes Addition

The authority held that no benefit was required to be passed on under Section 171 where the flat was booked post-GST and prices were fixed after factoring in available ITC.

No Anti-Profiteering Where Flat Was Booked Post-GST with ITC Factored In

The Tribunal ruled in favour of the assessee company, holding that once the genuineness of the transaction had been accepted in earlier years, the interest expenses cannot be disallowed in the current year.

Interest Expenses Cannot Be Disallowed in Current Year If Genuineness Is Accepted in Previous Years: ITAT

News

Mumbai IT executive cheated of Rs 4.69 crore as Lucknow CA allegedly misuses his GST account for fraud

Friendship Turns Fraud: CA Allegedly Cheats Mumbai IT Executive of Rs 4.69 Crore

Notifications

CBDT approves Sikshya O Anusandhan for tax benefits on scientific research under Section 35 of the Income Tax Act

CBDT Notifies Approval of Sikshya O Anusandhan for Scientific Research Under Section 35

The Central Government, using its power under clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), has granted income tax exemption to the State Legal Service Authority Union Territory, Chandigarh.

Explore Our Blogs

No FBT on Dealer-Oriented Sales Promotion Spend; ITAT Deletes Addition

No Anti-Profiteering Where Flat Was Booked Post-GST with ITC Factored In

Interest Expenses Cannot Be Disallowed in Current Year If Genuineness Is Accepted in Previous Years: ITAT

Friendship Turns Fraud: CA Allegedly Cheats Mumbai IT Executive of Rs 4.69 Crore

CBDT Notifies Approval of Sikshya O Anusandhan for Scientific Research Under Section 35

CBDT Notifies Tax Exemption to State Legal Service Authority Union Territory, Chandigarh