Taxscan Team
![Addition of Income based on statement of Director without verifying details of Payments from Third Parties is not permissible: ITATÂ [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Addition-of-Income-addition-income-statement-of-Director-statement-Payments-Third-Parties-ITAT-taxscan.jpg "Addition of Income based on statement of Director without verifying details of Payments from Third Parties is not permissible: ITATÂ [Read Order]")
Addition of Income based on statement of Director without verifying details of Payments from Third Parties is not permissible: ITATÂ [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that the Addition of Income based on the statement of the Director without...
![VAT Payment would not amount to Fee u/s 40(a)(iib) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/VAT-Payment-Income-Tax-Act-ITAT-TAXSCAN.jpg "VAT Payment would not amount to Fee u/s 40(a)(iib) of Income Tax Act: ITAT [Read Order]")
![ESOP price difference between Exercise Price and Market Price are allowable Deduction: ITAT rules in favour of Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/ESOP-difference-between-Exercise-Price-Market-Price-Deduction-ITAT-Mahindra-TAXSCAN.jpg "ESOP price difference between Exercise Price and Market Price are allowable Deduction: ITAT rules in favour of Mahindra [Read Order]")
![CBIC Notifies Withdrawal of NAA: CCI to Deal with GST Profiteering Complaints [Read Notification]](https://www.taxscan.in/wp-content/uploads/2022/11/CBIC-Notifies-Withdrawal-NAA-CCI-Deal-with-GST-Profiteering-Complaints-TAXSCAN.jpg "CBIC Notifies Withdrawal of NAA: CCI to Deal with GST Profiteering Complaints [Read Notification]")
![Bombay HC orders Restoration of Cancelled GST registration for ITC Transition of Rs 39 lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Bombay-HC-Bombay-HC-orders-Restoration-Cancelled-GST-registration-GST-registration-GST-registration-for-ITC-ITC-Transition-ITC-taxscan.jpg "Bombay HC orders Restoration of Cancelled GST registration for ITC Transition of Rs 39 lakhs [Read Order]")
Profits from Transport of Air Passengers to be taxed in Contracting State as per Indo Bhutan DTAA: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ), held that Profits from transport of air passengers to be taxed in contracting state as per Indo Bhutan Double Taxation Avoidance...
![Profits from Transport of Air Passengers to be taxed in Contracting State as per Indo Bhutan DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Profits-Transport-Air-Passengers-Profits-from-Transport-of-Air-Passengers-taxed-DTAA-Indo-Bhutan-DTAA-ITAT-taxscan.jpg "Profits from Transport of Air Passengers to be taxed in Contracting State as per Indo Bhutan DTAA: ITAT [Read Order]")
Deduction allowable towards the delayed payment of the Employee’s contribution on PF and ESI before filing the ROI: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that deduction is allowable towards the delayed payment of the employee’s contribution to Provident Fund ( PF )and ESI ...
![Deduction allowable towards the delayed payment of the Employee’s contribution on PF and ESI before filing the ROI: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Deduction-delayed-payment-Payment-Employees-contribution-on-PF-and-ESI-Pf-ESI-ROI-ITAT-taxscan.jpg "Deduction allowable towards the delayed payment of the Employee’s contribution on PF and ESI before filing the ROI: ITAT [Read Order]")
Lapse of Six Months on Penalty proceedings violation of Cash Transactions u/s 269SS: Delhi HC quashes Penalty [Read Order]
The Delhi High Court quashed penalty under Section 271D of the Income Tax Act, 1961 on the ground that there was lapse of six months on penalty proceedings on violation of cash transactions under...
![Lapse of Six Months on Penalty proceedings violation of Cash Transactions u/s 269SS: Delhi HC quashes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Penalty-penalty-proceedings-Cash-Transaction-violation-of-cash-transactions-Delhi-HC-penalty-taxscan.jpg "Lapse of Six Months on Penalty proceedings violation of Cash Transactions u/s 269SS: Delhi HC quashes Penalty [Read Order]")
Renaissance Global eligible for Customs Duty Exemption on Import of Scrap Jewellery: Bombay HC rules Customs Act has no jurisdiction within SEZ Act [Read Order]
A Division Bench of the Bombay High Court ruled that Customs Act has no jurisdiction with in Special Economic Zone (SEZ)Act, 2005and held that M/s. Renaissance Global Limited eligible for Customs...
![Renaissance Global eligible for Customs Duty Exemption on Import of Scrap Jewellery: Bombay HC rules Customs Act has no jurisdiction within SEZ Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Renaissance-Global-eligible-Customs-Duty-Exemption-on-Import-of-Scrap-Jewellery-Bombay-HC-rules-Customs-Act-SEZ-Act-TAXSCAN.jpg "Renaissance Global eligible for Customs Duty Exemption on Import of Scrap Jewellery: Bombay HC rules Customs Act has no jurisdiction within SEZ Act [Read Order]")
CBLR regulations does not mandate Customs Broker to check Whether Exporter entitled to ITC under GST: CESTAT [Read Order]
The Delhi Bench of the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) has held that Customs Brokers Licensing Regulations (CBLR, 2018)regulations does not mandate Customs Broker to...
![CBLR regulations does not mandate Customs Broker to check Whether Exporter entitled to ITC under GST: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/CBLR-Customs-Broker-Exporter-ITC-under-GST-ITC-Input-Tax-Credit-GST-Customs-CESTAT-taxscan.jpg "CBLR regulations does not mandate Customs Broker to check Whether Exporter entitled to ITC under GST: CESTAT [Read Order]")
Reversal of CENVAT Credit on non-moving inventory under general provision is not valid: CESTAT [Read Order]
The Delhi Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held that the reversal of CENVAT Credit on the non-moving inventory under general provision is not valid. ...
![Reversal of CENVAT Credit on non-moving inventory under general provision is not valid: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reversal-CENVAT-Credit-on-non-moving-inventory-under-general-provision-is-not-valid-CESTAT-TAXSCAN.jpg "Reversal of CENVAT Credit on non-moving inventory under general provision is not valid: CESTAT [Read Order]")