Day: July 12, 2023
Security deposit given for renting a premise could not be treated as revenue expenditure when the deposit if foregone – Supreme Court dismissed SLP. ABCAUS Case Law Citation:ABCAUS 3779 (2023) (07) SC Important Case Laws relied upon:Commissioner of Income Tax vs. Triveni Engg. & Industries Ltd. 343 ITR …
Recommendations of 50th meeting of GST Council The 50th meeting of the Goods and Services Tax (GST) Council was held here today, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. GST Council recommends Casino, Horse Racing and Online gaming to be taxed at …
Non verification of source of investment made in mutual funds rendered assessment order erroneous and prejudicial to the interest of the Revenue – ITAT ABCAUS Case Law Citation:ABCAUS 3778 (2023) (07) ITAT Important Case Laws relied upon:Infinity Infotech Parks Ltd vs. DCITNarayan Tatu Rane vs. ITO In the …