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2022-TIOL-NEWS-027 Part 2 | February 02, 2022
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TODAY'S CASE (DIRECT TAX)

I-T - Fully independent unit formed with an increased production capacity, is separate unit eligible for deduction u/s 10B: SC

 
INCOME TAX

2022-TIOL-08-SC-IT

CIT Vs Sociedade De Fomento Industrial Pvt Ltd

Whether fully independent unit formed with an increased production capacity, is a seprate unit eligible for deduction u/s 10B - YES: SC

- Revenue's SLP dismissed: SUPREME COURT OF INDIA

2022-TIOL-125-ITAT-INDORE

ACIT Vs Sharthak Real Built Pvt Ltd

Whether not providing opportunity of cross- examination of statements of sellers on whose basis addition is made is violation of Principles of natural justice - YES : ITAT

- Revenue's appeal dismissed: INDORE ITAT

2022-TIOL-124-ITAT-DEL

Pushp Steel And Mining Pvt Ltd Vs Pr.CIT

Whether only in gross case of inadequacy in inquiry or where inquiry is per se mandated on basis of record available before AO and such inquiry is not conducted, revisional power exercised by PCIT is not justified - YES : ITAT

- Assessee's appeal allowed: DELHI ITAT

 

 

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NEWS FLASH

SC collegium names six judicial officers for elevation to Delhi HC judges

43 lakh Americans quit jobs in Dec month

Telangana CM derides PM's ‘dress code'; says always dressed for elections

 
TOP NEWS
 
BUDGET ANALYSIS

SWS not payable when BCD is exempted - A welcome clarification
February 02, 2022 | By Pulak Saha & Shrenik Mehta

Retrospective Amendments in GST
February 02, 2022 | By Ms Pallavi Ganesh

 
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