Home Highlights September 2017 Year 2017 This

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1. Addition u/s 68 - non maintenance of books of accounts - There was no actual credit of cash or otherwise received by the assessee. No entries are made in the books of...

2. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

3. The appellant provides warranty services to customers who purchased machines from its parent company, receiving commission on sales. The appellant made provisions in its...

4. Valuation - Composite services - GTA Services on reverse charge basis - non-inclusion of various expenses in the taxable value - The Tribunal found that the services...

5. Determination of the taxable value for payment of service tax on reverse charge basis by the service recipient in respect of Goods Transport Agency (GTA) Services. The...

6. Addition u/s 68 - addition of the cash deposits in the assessee’s savings bank account - as the bank account of an assessee cannot be held to be the 'books' of an...

7. Addition on account of unexplained cash received from students and trainees - the cash deposited in the bank is fully accounted for and the addition made by the AO is ex-facie bad

8. Interpretation of statute - Levy of VAT - credit note received subsequent to the date of the invoice - Determination of Turnover - Input Tax Credit - Large Bench...

9. Addition u/s. 41(1) - Difference between the amount payable as per books of accounts and amount as per the confirmation received from the creditor - The High Court...

10. Addition on account of suppression of the value of stock - assessee company has been consistently following the accounting practice of valuing the rejected railways...

11. Addition u/s 56(vii) - Addition on account of alleged under-valuation - Since, in the instant case, the assessee has sold her 12.5% share in the property to her son at...

12. Imposition of penalty u/s 271(1)(c) of the Income Tax Act for two types of additions: (1) the addition made u/s 50C on the difference between stamp duty value and sale...

13. Unexplained investment u/s 69 - wire transfer from NRE account - assessee is a non-resident - transfer from the account of the assessee’s son, who is also a resident of...

14. Addition on account of Repair and Maintenance of Plant and Machinery on estimate basis - sale of scrap - The assessee brought on record a chart of sale made of scrap in...

15. The ITAT, an Appellate Tribunal, addressed two key issues. Firstly, regarding the difference in sale consideration and stamp duty for 3 flats sold by the assessee, it...