This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal ( ITAT ) reported at Taxscan from 30 November 2024 to 6 December 2024. ITAT Remands Case to CIT(A) for Fresh Consideration, Imposes Cost of Rs. 10,000 on Assessee for Non-Compliance with Notices [Read Order] Agrawal RajeshkumarBabulal vs The ACIT […]
The Supreme Court has recently held that broken period interest incurred on securities treated as stock-in-trade is in the nature of revenue expense and that Income Tax Deduction can be allowed on the same. The treatment to be given to broken period interest was taken to the Supreme Court and the question as to whether...
The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that statement made during investigation before a central excise officer is not reliable unless examined as witness and set aside penalty imposed. Sharp Mint Ltd, the appellant/assessee is in the business of manufacturing and exporting of Menthol Crystal and...
The Kolkata Bench of Customs Excise & Service Tax Appellate Tribunal ( CESTAT ) ruled that no service tax under Section 66E(B) of the Finance Act could be imposed if partial completion and occupancy certificates were received on a flat project. MCK PGE Projects LLP, the appellant was involved in the construction of a residential...
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