Illegal suspension of the GST registration of the petitioner on ground of non-payment of taxes for more than 3 return period & Observation by Calcutta High Court
Charitable Trust: Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which is rectifiable- Mumbai ITAT
Assessee can’t escape Sec. 43B disallowance by crediting GST amount to B/S instead of taking it in P&L a/c: ITAT
Robbery amount recovered by Police – Whether can be return to the Taxpayers even if the Income-tax Dept. has initiated section 132 proceedings?
Assessee can’t have custody of robbed cash recovered by police once the Income-tax Dept. has initiated section 132 proceedings: HC
Compensation for compulsory acquisition of Land: Not taxable even if there is no specific exemption provision in the Income-tax Act of 1961
Bad Debts Written Off: If a provision for expense is expressly excluded from Section 36 (1) (vii) then such a provision cannot claim deduction under Section 37 of the IT Act even on the basis of “real income theory”.
Amendment in section 36(1)(va by the Finance Act- 2021 don’t have the retrospective application: Nagpur ITAT
Reopening Proceedings Quashed by Calcutta High Court as the information has been lightly used which resulted in issuance of notice.
Compensation for compulsory acquisition of Land, whether agricultural or non agricultural is exempted from Income Tax: ITAT