ICAI releases Exposure Draft of Lack of Exchangeability
The Institute of Chartered Accountants of India (ICAI) today released an Exposure Draft of Lack of Exchangeability. Indian Accounting Standards...
Actual Receipt of Money by Assessee is a mandatory condition to invoke section 68 for Unexplained Cash Credit: ITAT grants relief
The Income Tax Appellate Tribunal (ITAT), Delhi Bench while providing the relief to the Zexus Air Services Pvt. Ltd. ruled that Actual Receipt of Money by Assessee is a mandatory condition to invoke...
Supreme Court extends Limitation Period for Filing of Cases in Courts and Tribunals due to Second wave of COVID-19 pandemic [Read Order]
The Supreme Court, on Tuesday, restored the extension of the limitation period for the filing of cases in courts and tribunals due to the second wave of the COVID-19 pandemic. The Apex Court took...
Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench while granting the relief to Lifestyle International ruled that the Foreign Currency is not a ‘commodity’ to invoke provisions relating to...
![Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Foreign-Currency-commodity-Speculative-Transactions-ITAT-Lifestyle-International-Taxscan.jpeg "Foreign Currency is not a ‘Commodity’ to invoke provisions relating to Speculative Transactions: ITAT grants Relief to Lifestyle International [Read Order]")
Wrongful availment of ITC: Rajasthan HC refuses to grant Bail to accused of GST Scam worth Rs. 47 Cr [Read Order]
The Rajasthan High Court refused to grant bail to the person accused of wrongly availing ITC without the transportation of goods. The petitioner, Sumit Dutta, was an employee in M/s Veto...
![Wrongful availment of ITC: Rajasthan HC refuses to grant Bail to accused of GST Scam worth Rs. 47 Cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Wrongful-availment-of-ITC-Rajasthan-High-Court-grant-Bail-GST-Scam-Taxscan-1.jpeg "Wrongful availment of ITC: Rajasthan HC refuses to grant Bail to accused of GST Scam worth Rs. 47 Cr [Read Order]")
CBDT extends Time Limit for Amount payable under Direct Tax Vivad se Vishwas Act, 2020 [Read Notification]
In the wake of CoronaVirus Pandemic, the Central Board has decided that time for payment of amount payable under the Direct Tax Vivad se Vishwas Act, 2020, without an additional amount, shall be...
![CBDT extends Time Limit for Amount payable under Direct Tax Vivad se Vishwas Act, 2020 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2021/04/CBDT-extends-time-limit-Direct-Tax-Vivad-se-Vishwas-Act-Taxscan.jpeg "CBDT extends Time Limit for Amount payable under Direct Tax Vivad se Vishwas Act, 2020 [Read Notification]")
![CBDT extends Time Limit for Income Tax Assessment [Read Notification]](https://www.taxscan.in/wp-content/uploads/2021/04/CBDT-extends-time-limit-Income-Tax-Assessment-Taxscan.jpg "CBDT extends Time Limit for Income Tax Assessment [Read Notification]")