Very important Conclusion by Apex Court decision( 5 members constitutional bench) in Dilip Kumar & Co
Time to be more alert. Tax exemption clause/ notification to be read strictly. If there is ambiguity, it must be interpreted in favour of revenue. Ratio of Sun Exports overruled by Supreme court !!
No addition in respect of penny stock on the basis of human behavior in the case of Navneet Agarwal vs. ITO: ITAT Kolkata
An interesting issue on post sales discount – AAR Maharashtra rules out GST refund for post-sales discounts
Section 54 Relief not allowable when Builder returns Money for Flats Booked under Self-Finance Scheme : ITAT, Ahmedabad
Adherence to prescribed time-line for issue of certificate of no deduction or deduction of tax at lower rate u/s 197 and 195 of the I.T. Act-1961: CBDT