Taxscan Team
Section 53 of Benami Transactions (Prohibition) Amendment Act has Prospective Effect,only applies to Transactions entered after 1st November 2016: Delhi HC [Read Order]
The Delhi Bench High Court has held that Section 53 of Benami Transactions (Prohibition) Amendment Act has prospective effect, and only applies...
![GST Proceedings initiated with Incriminating Evidence to Prove Suppression of Sales: Kerala HC dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/GST-Proceedings-gst-Incriminating-Evidence-Sales-Kerala-HC-Writ-Petition-taxscan-.jpg "GST Proceedings initiated with Incriminating Evidence to Prove Suppression of Sales: Kerala HC dismisses Writ Petition [Read Order]")
![Foreign Exchange Gain on Acquisition of Fixed Assets is allowable as Deduction as per Section 43A: ITAT grants relief to Vi [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Foreign-Exchange-Gain-Fixed-Assets-Deduction-ITAT-Vi-ITAT-grants-relief-to-Vi-Income-Tax-Taxscan.jpg "Foreign Exchange Gain on Acquisition of Fixed Assets is allowable as Deduction as per Section 43A: ITAT grants relief to Vi [Read Order]")
CBIC Circular Stating “No Further Revisal” of TRAN-1/2 is Against Rule 120 of GST Act, rules Chhattisgarh HC [Read Order]
In a significant ruling which may lead to a debate, the Chhattisgarh High Court has stated that the revisal of TRAN-1/2 forms are allowed under the Central GST Act and the recent circular issued by...
![CBIC Circular Stating “No Further Revisal” of TRAN-1/2 is Against Rule 120 of GST Act, rules Chhattisgarh HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CBIC-Circular-CBIC-TRAN-1-TRAN-2-GST-Act-GST-rules-Chhattisgarh-HC-taxscan.jpg "CBIC Circular Stating “No Further Revisal” of TRAN-1/2 is Against Rule 120 of GST Act, rules Chhattisgarh HC [Read Order]")
CIT(A) has No Jurisdiction to Hear Stay Applications: Kerala HC Orders NFAC to Provide Link for filing Stay Petition [Read Order]
The Kerala High Court, while considering a petition where the assessee approached the jurisdictional appellate Commissioner requesting a stay of demand, has held that the said authority is no longer...
![CIT(A) has No Jurisdiction to Hear Stay Applications: Kerala HC Orders NFAC to Provide Link for filing Stay Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/CITA-Jurisdiction-Stay-Applications-Kerala-High-Court-NFAC-filing-Stay-Petition-Taxscan.jpg "CIT(A) has No Jurisdiction to Hear Stay Applications: Kerala HC Orders NFAC to Provide Link for filing Stay Petition [Read Order]")
Onus is on Revenue to prove that Goods are Smuggled in Nature: CESTAT quashes demand of Customs Duty and Penalty [Read Order]
The New Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), quashed demand of customs duty and penalty and held that Onus is on Revenue to prove that goods are smuggled in...
![Onus is on Revenue to prove that Goods are Smuggled in Nature: CESTAT quashes demand of Customs Duty and Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Smuggled-goods-CESTAT-customs-duty-penalty-taxscan.jpg "Onus is on Revenue to prove that Goods are Smuggled in Nature: CESTAT quashes demand of Customs Duty and Penalty [Read Order]")
Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the provision for Warranty Expenses is ascertained liability and is allow able as business expenditure. M/s.Trivitron...
![Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Provision-for-Warranty-Expenses-is-ascertained-liability-allowable-as-Business-Expenditure-ITAT-TAXSCAN.jpg "Provision for Warranty Expenses is ascertained liability, allowable as Business Expenditure: ITAT [Read Order]")
Relief to Vi, Deduction of discount on ESOP over the vesting period by SEBI Guidelines is allowable: ITAT [Read Order]
As a relief to Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the deduction of discount on the Employee Stock Option Scheme ( ESOP ) over the vesting...
![Relief to Vi, Deduction of discount on ESOP over the vesting period by SEBI Guidelines is allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Deduction-Vi-Deduction-of-discount-Deduction-of-discount-on-ESOP-ESOP-SEBI-Guidelines-SEBI-taxscan-1.jpg "Relief to Vi, Deduction of discount on ESOP over the vesting period by SEBI Guidelines is allowable: ITAT [Read Order]")
![CBDT Notifies Income Tax Exemption to FIFA [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/12/CBDT-Notifies-Income-Tax-Exemption-to-FIFA-TAXSCAN.jpg "CBDT Notifies Income Tax Exemption to FIFA [Read Notification]")