Taxscan Team
![Proceedings for Transition of CENVAT Credit alleged to be inadmissible not to be carried out under GST Act: Jharkhand HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Proceedings-Transition-of-CENVAT-Credit-CGST-Act-Jharkhand-HC-TAXSCAN.jpg "Proceedings for Transition of CENVAT Credit alleged to be inadmissible not to be carried out under GST Act: Jharkhand HC [Read Order]")
Proceedings for Transition of CENVAT Credit alleged to be inadmissible not to be carried out under GST Act: Jharkhand HC [Read Order]
A Division Bench of the Jharkhand High Court has recently held that proceedings for transition of CENVAT credit alleged to be inadmissible cannot be...
![Violation of 269SS does not nullify Transaction in S.138 NI Act Case, but constitutes a Separate Offence under IT Act: Karnataka HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Violation-of-269SS-Transaction-in-S.138-NI-Act-Case-Offence-under-IT-Act-Karnataka-HighCourt-taxscan.jpg "Violation of 269SS does not nullify Transaction in S.138 NI Act Case, but constitutes a Separate Offence under IT Act: Karnataka HC [Read Order]")
![Writ Court can entertain Show-Cause Notice issued on Lack of Jurisdiction: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Writ-Court-can-entertain-Show-Cause-Notice-issued-on-Lack-of-Jurisdiction-Madras-HC-TAXSCAN.jpg "Writ Court can entertain Show-Cause Notice issued on Lack of Jurisdiction: Madras HC [Read Order]")
![Transfer of Assets in Favour of Retiring Partner on Revaluation attracts Income Tax u/s 45(4): Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Transfer-of-Assets-Retiring-Partner-Income-Tax-Supreme-Court-taxscan.jpg "Transfer of Assets in Favour of Retiring Partner on Revaluation attracts Income Tax u/s 45(4): Supreme Court [Read Order]")
![Cessation of Trading liability u/s 41(1) (a) is not valid in the presence of details of Outstanding Creditors: Calcutta HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Cessation-of-Trading-liability-Outstanding-Creditors-Calcutta-HC-TAXSCAN.jpg "Cessation of Trading liability u/s 41(1) (a) is not valid in the presence of details of Outstanding Creditors: Calcutta HC [Read Order]")
Receipt not in the Nature of Income cannot be included in Book Profit for Computation u/s 115JB, Interest in Power subsidy has to be excluded: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the receipt not like income cannot be included in book profit for computation u/s 115JB of the Income Tax Act,1961 and the...
![Appeal filed Electronically with in Stipulated Time, CIT(A) can’t reject the same: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Appeal-filed-Electronically-Stipulated-Time-CITA-ITAT-TAXSCAN.jpg "Appeal filed Electronically with in Stipulated Time, CIT(A) can’t reject the same: ITAT [Read Order]")
Addition of income u/s 56(2)(viib) read with Rule 11UA (2) of the Income Tax Rules without verifying Valuation report is not permissible: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Addition of income u/s 56(2)(viib) read with Rule 11UA (2) of the Income Tax Rules without verifying Valuation report is...
Exemption u/s. 11 of the Act is allowable When Income Tax Return filed within specified Time Limit: ITAT [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the exemption under section 11 of the Income Tax Act,1961 is allowable when a Income Tax Return is filed within the specified...
![Exemption u/s. 11 of the Act is allowable When Income Tax Return filed within specified Time Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Exemption-Income-Tax-Return-ITAT-TAXSCAN.jpg "Exemption u/s. 11 of the Act is allowable When Income Tax Return filed within specified Time Limit: ITAT [Read Order]")
CBIC Notifies Members to decide Applications relating to Advance Ruling Authority in UT of Chandigarh [Read Notification]
The Central Board of Indirect Taxes and Customs (CBIC) has notified the name of the members who are authorized to decide the applications to the Advance Ruling Authority (AAR) within the Union...
![CBIC Notifies Members to decide Applications relating to Advance Ruling Authority in UT of Chandigarh [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/11/CBIC-Notifies-Members-Advance-Ruling-Authority-Chandigarh-TAXSCAN.jpg "CBIC Notifies Members to decide Applications relating to Advance Ruling Authority in UT of Chandigarh [Read Notification]")
Sale of Prepaid Sim Cards / Recharge Vouchers to distributors cannot be treated as Commission to attract S.194H, No TDS: ITAT grants relief to Vi
As a relief to Vodafone Idea ltd, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Sale of prepaid sim cards/recharge vouchers to distributors cannot be treated as...
Buyer of Inputs can't verify all the Supplier duty liability, CENVAT Credit can be allowable to Bonafide purchaser of Goods which includes Duty: CESTAT [Read Order]
The Delhi Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has observed thatthe Buyer of inputs can't verify all the supplier duty liability and held that CENVAT credit can...
![Buyer of Inputs cant verify all the Supplier duty liability, CENVAT Credit can be allowable to Bonafide purchaser of Goods which includes Duty: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Supplier-duty-liability-CENVAT-Credit-Goods-which-includes-Duty-CESTAT-TAXSCAN.jpg "Buyer of Inputs cant verify all the Supplier duty liability, CENVAT Credit can be allowable to Bonafide purchaser of Goods which includes Duty: CESTAT [Read Order]")