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Breaking: Supreme Court Upholds Validity of ICSI Election of Office Bearers [Read Judgement]
In a significant ruling, the Supreme Court, today quashed the order of Single and Division bench of Calcutta High Court quashing and setting aside...
Income Tax Portal not displaying Orders and Communication on Time: Professionals and Taxpayers facing Difficulties
The income tax portal, is showing glitches on the portal from the first date of its rollout last year and most of the issues are still not resolved by the Government and tech department. “The i-t...
Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), has held thatcircuitous rotation of unaccounted money is not a genuine loan transaction and upholds addition u/s 68. The appellant, M/s...
Additions Merely Based on Presumptions not Maintainable, When no Defects Found in the Books of Accounts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, held that additions merely based on presumptions are not maintainable when no defects can be found...


![Income Tax Dept issues FAQ on Challan Status Inquiry for TAN Users [Read FAQs] Income Tax Dept issues FAQ on Challan Status Inquiry for TAN Users [Read FAQs]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Dept-FAQ-Challan-Status-Inquiry-TAN-taxscan.jpg)
![Industrial Safety Belt not exceeding Rs. 1000 sale value, taxable at 5% GST: AAR [Read Order] Industrial Safety Belt not exceeding Rs. 1000 sale value, taxable at 5% GST: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Industrial-Safety-Belt-value-taxable-GST-AAR-TAXSCAN.jpg)
![Liquidated Damages Recoverable on Account of Delay in Commissioning is not Supply, No GST: AAAR [Read Order] Liquidated Damages Recoverable on Account of Delay in Commissioning is not Supply, No GST: AAAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Liquidated-Damages-Account-GST-AAAR-taxscan.jpg)
![Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order] Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Misconduct-Resolution-IBBI-Penalty-TAXSACN.jpg)




![GST: Commencement of Investigation is a Judicial Bar for Advance Ruling, says AAAR [Read Order] GST: Commencement of Investigation is a Judicial Bar for Advance Ruling, says AAAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Commencement-Investigation-Judicial-Bar-AAAR-TAXSCAN.jpg)
![Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order] Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Unaccounted-Money-Loan-Transaction-ITAT-taxscan.jpg)
![Additions Merely Based on Presumptions not Maintainable, When no Defects Found in the Books of Accounts: ITAT [Read Order] Additions Merely Based on Presumptions not Maintainable, When no Defects Found in the Books of Accounts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Books-of-Accounts-ITAT-taxscan.jpeg)