CBDT notifies Income Tax Exemption to Punjab Nurses Registration Council u/s 10(46) [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. S.O. 4265(E) issued on 29th September 2023 has notified the income tax exemption to Punjab Nurses Registration Council under Section 10(46) of Income Tax Act,
Exemption u/s 10(38) of Income Tax Act shall be denied when Assessee enters into Sham Transaction with Paper Companies: ITAT upholds Order of CIT(A) [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be denied when the assessee enters into a sham transaction with
CBIC notifies Extension of Exemption of Deposits into Electronic Credit Ledger (ECL) till 30th November 2023 [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC) vide notification no. No. 69/2023-Customs (N.T.) S.O. 4253(E)  issued on 27th September 2023 has notified the extension of exemption of deposits into Electronic Credit Ledger (ECL)
CBIC extends Exemption from Deposits for Specified goods u/s 51A(4) of Customs Act till 1st Dec 2023 [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC) vide notification no. No. 70/2023-Customs (N.T.) S.O. 4254(E) has extended the exemption from deposits for specified goods under Section 51A(4) of the Customs Act till 1st
Non-Consideration of Evidence on Deduction Claim u/s 54B and Capital Gains Exemption on Sale of Agricultural Land: ITAT remands Matter to AO [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai bench remanded the matter  before the Assessing officer for re adjudication due to  nonconsideration of evidence on deduction claimed under Section 54B of the Income Tax Act, 1961
CBIC amends Notification of Exemptions on Supply of Services under IGST Act [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC), vide notification no. 12/2023- Integrated Tax (Rate) G.S.R. 690(E) issued on 26th September 2023 has notified the amendment in the notification no. 09/2023 which mentions exemptions
Relief to Kissan Fats: CESTAT rules Waste, Gums, Fatty Acids etc arising on Manufacture of Vegetable Oils are Eligible for Excise Duty Exemption [Read Order]
In a major relief to M/s Kissan Fats Limited, the Chandigarh Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), ruled that waste, gums, fatty acids etc arising on manufacture of vegetable oils
Supreme Court issues Notice seeking clarification on availability of Central Excise Duty Exemption to Importers wrt CVD/ACD
The Supreme Court, in consideration of a batch of appeals under Section 130E of the Customs Act, issued notice to the respondents-Commissioners of Customs, seeking clarification with regard to the extent of exemption available to
Benefit of Excise Duty Exemption Allowable on Molasses Captively Consumed for Manufacture of Rectified Spirit: CESTAT quashes Excise Duty Demand [Read Order]
The Chennai bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held that the benefit of excise duty exemption allowable on molasses captively consumed for the manufacture of rectified spirit and quashed the
Supreme Court upholds Income Tax Exemption granted on Dividend Income to Multi-State Cooperative Society with PE in Oman as per India-Oman DTAA [Read Order]
The Supreme Court has recently ruled that when an Indian entity's establishment operates in Oman and holds a 'Permanent Establishment' status under the Double Taxation Avoidance Agreement (DTAA), any dividend income received by the Indian
CBDT notifies Income Tax Exemption to Uttar Pradesh Expressways Industrial Development Authority u/s 10(46) [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. S.O. 4118(E) issued on 19th September 2023 has notified the income tax exemption to Uttar Pradesh Expressways Industrial Development Authority under Section 10(46) of Income
Allegation of Price Manipulation on Purchase and Sale of Shares on Stock Exchange through SEBI: ITAT deletes Addition u/s 68 and Disallowance of Exemption of LCG [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition under Section 68 of the Income Tax Act 1961, and disallowance of Long-term Capital Gains (LCG) the allegation of price manipulation was
CBIC Sets Norms for Officer Posting and Performance in CRC Payment Exemption at Air Freight Solutions [Read Circular]
The Central Board of Indirect Taxes and Customs (CBIC) has released guidelines, outlined in Circular No. 21/2023-Customs, dated September 14, 2023. These guidelines pertain to the deployment of officers and the establishment of performance benchmarks
Relief to Tata Motors: CESTAT allows Excise Duty Exemption to Chassis on Projects funded by International Organization [Read Order]
In a major relief to M/s Tata Motors Limited, the appellant, the Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), allowed excise duty exemption to Chassis on projects funded by International
Discrepancy on Reversal of Cenvat Credit for opting SSI Exemption found at Time of Audit: CESTAT upholds Reversal by Assesee along with interest for intervening Period [Read Order]
The Kolkata bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT)upheld the  reversal by assesee along with interest for intervening period as the discrepancy on reversal of cenvat credit for opting ssi exemption