Penalties under the Central Excise Rules, 2002 are imposed for non-compliance with various provisions of the Central Excise Act, 1944. It was aimed to prevent evasion of duties, and maintain discipline in excise administration. Penalty

Unexplained cash deposits have been a focal point of scrutiny in the Indian income tax framework. Section 69A of the Income Tax Act, 1961, is a crucial provision empowering tax authorities to tax unaccounted assets,

The Joint Commissioner (Appeals), being the First Appellate Authority of Goods and Services Tax (GST) matters recently deleted demands and penalties observing the retrospective applicability of Section 16(5) of the Central Goods and Services Tax

The Surat Bench of Income Tax Appellate Tribunal ( ITAT ) remanded Power Equipment Company's case to the Commissioner of Income Tax (Appeals) CIT(A), National Faceless Appeal Centre ( NFAC )  for re-examination of the

India has seen a big change in its financial system with more women participating in the economy. According to the Income Tax Department, the number of women filing income tax returns (ITRs) grown by 25.3%

Amazon invited applications for the post of Staff Accountant. Qualification: CA Knowledge of standard software including Excel, Access, Oracle, Essbase, SQL and VBA skills Responsibilities: Perform/Support the month end activities which include closing of sub

Recently, The New Delhi Bench of Income Tax Appellate Tribunal(ITAT) set aside the denial of exemption under sections 11 and 12 of the Income Tax Act,1961 by the Commissioner of Income Tax (Appeals). Sufi Kathak

The Income Tax Appellate Tribunal ( ITAT ), Bangalore recently recognized the failure by the Commissioner of Income Taxes (Appeals) ( CIT(A) )to adequately consider furnished documents in an income tax appeal pertaining to the

In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad, has ordered fresh consideration in a case where non-compliance with tax regulations was attributed to technical difficulties with the income tax portal. The case

In a recent case, the Allahabad bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT)upheld the denial of cenvat credit against pepsico as manpower supply services and anti termite or pesticide treatment services

The Joint Commissioner (Appeals), being the First Appellate Authority of Goods and Services Tax (GST) recently disposed of multiple appeals pertaining to eligibility to avail Income Tax Credit (ITC) as per the provisions of Section

This annual round-up analytically summarizes the key Direct and Indirect Tax Judgments of the Supreme Court and all High Courts of India reported at Taxscan.in during 2024. Confiscation of Digital Multifunction Equipment due to Non-payment

Q1. What is Peer-to-Peer (P2P) lending? P2P lending is a form of online lending where individuals can directly lend money to borrowers through a platform without involving traditional financial institutions. Platforms like **Faircent**, **Lendbox**, and

1Q: What are digital assets? A: Digital assets include cryptocurrencies, non-fungible tokens ( NFTs ), tokenized digital securities, and any other assets stored in a digital or blockchain format.2Q: How are cryptocurrencies taxed in India?

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) held that undisclosed income is to be computed on the basis of the principle of real income and dismissed the appeal filed by