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Delhi ITAT Rules MEIS Reward as Capital Receipt and Not Taxable Income
Delhi ITAT classifies MEIS rewards as capital receipts, excluding them from taxable income and book profits while deleting section 14A disallowance.
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MEIS Scrip Sale Proceeds Are Capital Receipts and Not Taxable Rules ITAT Chennai
ITAT Chennai rules that MEIS scrip sale proceeds qualify as capital receipts and are non-taxable, while also classifying leasehold land construction costs as revenue expenditure.
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CESTAT Delhi Rules Composite Works Contract Not Taxable Before June 1 2007
CESTAT Delhi rules that composite works contracts cannot be taxed as site formation prior to June 1 2007, setting aside penalties and interest.
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Tamil Nadu AAR Rules Semen Sorting Services Taxable at 18 Percent GST
Tamil Nadu AAR classifies semen sorting services under SAC 998349, ruling them taxable at an 18 percent GST rate without exemption.
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Delhi ITAT Limits Bogus Purchases Addition Under Section 69C to Rs 6 Lakh
Learn how the Delhi ITAT restricted a bogus purchase addition under Section 69C to Rs 6 lakh after accepting corresponding sales.
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ITAT Bangalore Rules Multiple Residential Units Qualify for Section 54 Exemption
Discover how ITAT Bangalore allowed Section 54 exemption for a residential house comprising multiple units, while invalidating expanded limited scrutiny.
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ITAT Kolkata Rules in Favor of Taxpayer on Pass-Through AE Purchases
ITAT Kolkata deletes a significant transfer pricing adjustment after determining the associated enterprise acted strictly as a pass-through entity.
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ITAT Hyderabad Rules Incorporation Date Cannot Be Replaced by Business Commencement for Section 54GB
ITAT Hyderabad denies Section 54GB tax exemption, ruling that a company must be formally incorporated within the statutory period, not just commence business.
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CESTAT Delhi Rules Separate Supply and ECIS Contracts Are Not Works Contracts
CESTAT Delhi clarifies that distinct material supply and erection contracts do not constitute works contracts, excluding free supplies from value.
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ITAT Chandigarh Quashes Time-Barred Section 148 Notice for AY 2015-16
ITAT Chandigarh sets aside a time-barred Section 148 notice issued on April 1, 2022, for assessment year 2015-16, invalidating related penalties.