On September 19, 2024, the Government of India issued Notification No. 62/2024-Customs (N.T.) under the Customs Tariff Act, 1975, aimed at clarifying the definition of “laboratory chemicals.” The ...
ITAT Mumbai held that when the reserve/provisions created in the year where the assessee has increased the book profit u/s. 115JB of the Act, the assessee is entitled to reduce the amount withdrawn ...
Ground no. 2 : “That, the order u/s 143 (3) r.w.s. 147 of the I.T. Act, 1961 is bad-in-law as the notice u/s 143 (2) is issued beyond the statutory time limit.” 2. This ground goes to the root of the ...
In exercise of the powers conferred by clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) read with Rules 5C and 5E of the Income-tax Rules, 1962, the Central ...
ITAT Ahmedabad held that addition towards unsecured loan where loan was repaid is unsustainable, whereas, addition where assessee failed to demonstrate repayment or interest payment to creditor ...