CBEC enumerates Customs Initiatives for Reduction in Transaction Cost
The Central Board of Excise and Customs (CBEC) have issued an advisory on initiatives taken by the Customs department for the reduction in transaction...
![Cash Loans above the limits prescribed in Income Tax Act has Legal Sanctity: Delhi HC allows Money Recovery Suit [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/05/Cash-Payments.jpg "Cash Loans above the limits prescribed in Income Tax Act has Legal Sanctity: Delhi HC allows Money Recovery Suit [Read Judgment]")
![Surrender of Income when Assessee couldn’t prove Bonafide Claim is not ‘Voluntary Disclosure’: ITAT confirms Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Voluntary-disclosure.jpg "Surrender of Income when Assessee couldn’t prove Bonafide Claim is not ‘Voluntary Disclosure’: ITAT confirms Penalty [Read Order]")
![Expenses incurred for Cancellation and Re-registration of Property is part of Cost of Acquisition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Cost-of-Acquisition.jpg "Expenses incurred for Cancellation and Re-registration of Property is part of Cost of Acquisition: ITAT [Read Order]")
No GST If Cash Calls are merely transaction in money: CBEC Clarifies application of GST on Joint Venture [Read Circular]
The Central Board of Excise and Customs (CBEC) last day clarified the liability to pay tax on the taxable services provided by the members of the Joint Venture (JV) to the JV and vice versa and inter...
![No GST If Cash Calls are merely transaction in money: CBEC Clarifies application of GST on Joint Venture [Read Circular]](https://www.taxscan.in/wp-content/uploads/2018/03/Partners-Taxscan.jpg "No GST If Cash Calls are merely transaction in money: CBEC Clarifies application of GST on Joint Venture [Read Circular]")
IT Dept unearths TDS Scam involving 3200 Crores: Mumbai based Companies and Individuals under Scanner
Another scam involving Rs. 3,200 crores relating to tax deduction at source has been unearthed by the income tax department. In relation with this, proceedings have been initiated by the TDS wing of...
‘ Tail ’ as well as ‘ Sharbat ’ are classifiable as Ayurvedic Medicines: CESTAT [Read Order]
The Delhi bench of CESTAT recently held that Tail, as well as Sharbat, are classifiable as Ayurvedic Medicines. In instant case, respondent is an Ayurvedic pharmacy who claimed benefit with reference...
![‘ Tail ’ as well as ‘ Sharbat ’ are classifiable as Ayurvedic Medicines: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Tail-Taxscan.jpg "‘ Tail ’ as well as ‘ Sharbat ’ are classifiable as Ayurvedic Medicines: CESTAT [Read Order]")
UPS can be considered as Computer If it is Connected to ATM Machine or a Computer: ITAT allows 60% Depreciation [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) recently held that UPS can be considered as a computer if it is connected to the ATM machine or a computer and accordingly allowed...
![UPS can be considered as Computer If it is Connected to ATM Machine or a Computer: ITAT allows 60% Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/UPS-Taxscan.jpg "UPS can be considered as Computer If it is Connected to ATM Machine or a Computer: ITAT allows 60% Depreciation [Read Order]")
Mere Involvement in Office Work and Marketing Activities cant be a Good Justification and Ground to seek for Extension of Time: Delhi HC [Read Judgment]
The Delhi High Court has observed that mere involvement in office work and marketing activities cannot be a good justification and ground to seek and ask for an extension of time. The assessee in the...
![Mere Involvement in Office Work and Marketing Activities cant be a Good Justification and Ground to seek for Extension of Time: Delhi HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/02/Delhi-High-Court-Taxscan.jpg "Mere Involvement in Office Work and Marketing Activities cant be a Good Justification and Ground to seek for Extension of Time: Delhi HC [Read Judgment]")
No TDS Liability since Commission to Foreign Agent is not subject to Income Tax in India: ITAT [Read Order]
In the case of M/s Bengal Tea & Fabrics Ltd vs DCIT, Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently ruled that there is no Tax Deducted at Source ( TDS ) liability in the hands of...
![No TDS Liability since Commission to Foreign Agent is not subject to Income Tax in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/TDS-Taxscan.jpg "No TDS Liability since Commission to Foreign Agent is not subject to Income Tax in India: ITAT [Read Order]")