![Govt notifies Restriction of Input Tax Credit on Certain Fabric Items [Read Notification]](https://www.taxscan.in/wp-content/uploads/2017/09/Input-Tax-Credit-Taxscan.jpg "Govt notifies Restriction of Input Tax Credit on Certain Fabric Items [Read Notification]")
Govt notifies Restriction of Input Tax Credit on Certain Fabric Items [Read Notification]
The Central Board of Excise and Customs (CBEC) has notified restriction of Input Tax Credit (ITC) on Certain fabric items like Knotted netting of...
![Brand Promotion Expenses incurred by BMW India constitute ‘International Transaction’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/BMW-India-Taxscan.jpg "Brand Promotion Expenses incurred by BMW India constitute ‘International Transaction’: ITAT [Read Order]")
![ITAT upholds Addition of 4.99 Lakhs as ‘Unexplained Cash‘ against Muthoot Group MD [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/George-Alexander-Muthoot-MD-Taxscan.jpg "ITAT upholds Addition of 4.99 Lakhs as ‘Unexplained Cash‘ against Muthoot Group MD [Read Order]")
![Interest on Deposits made out of Share Application Money during the Period of Construction of Plant is not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Interest on Deposits made out of Share Application Money during the Period of Construction of Plant is not Taxable: ITAT [Read Order]")
Provisions of Deemed Profit would not attract on Unilateral Act of Writing Off of Advance given to Subsidiary Company: ITAT [Read Order]
The Income Tax Appellate Tribunal, Delhi bench last week held that in case of unilateral act of writing off of advance given to subsidiary company do not constitute trading liability for invoking the...
![Provisions of Deemed Profit would not attract on Unilateral Act of Writing Off of Advance given to Subsidiary Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Write-Offs-Taxscan.jpg "Provisions of Deemed Profit would not attract on Unilateral Act of Writing Off of Advance given to Subsidiary Company: ITAT [Read Order]")
Interest from Accumulated PF balance received After Retirement is not Eligible for Exemption: ITAT rejects Techie’s plea [Read Order]
The Income Tax Appellate Tribunal recently ruled that accumulated interest from provident fund received post-retirement of the assessee is not eligible for exemption under section 10(12) of the Income...
![Interest from Accumulated PF balance received After Retirement is not Eligible for Exemption: ITAT rejects Techie’s plea [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Interest-Provident-Fund-Taxscan.jpg "Interest from Accumulated PF balance received After Retirement is not Eligible for Exemption: ITAT rejects Techie’s plea [Read Order]")
Non-Imposition of Penalty in Assessment Order Constitute Error causing Prejudice to the Interest of Revenue: ITAT Upholds Revision [Read Order]
While upholding an order of revision, the Income Tax Appellate Tribunal, Kolkata bench recently held that non-initiation of penalty proceedings in the order of assessment would amount to error causing...
![Non-Imposition of Penalty in Assessment Order Constitute Error causing Prejudice to the Interest of Revenue: ITAT Upholds Revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "Non-Imposition of Penalty in Assessment Order Constitute Error causing Prejudice to the Interest of Revenue: ITAT Upholds Revision [Read Order]")
![Andhra Cricket Association is Eligible for Tax Exemption u/s 11: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Andhra-Cricket-Association-Taxscan.jpg "Andhra Cricket Association is Eligible for Tax Exemption u/s 11: ITAT [Read Order]")
Education Cess paid alongwith Excise Duty is Refundable in cases where no Duty is Payable, says Supreme Court [Read Judgment]
A two-judge bench of the Supreme Court, on Friday held that the manufactures who paid excise duty in terms with the exemption notification No. 20/2007-Ex can claim refund of education cess and higher...
Company can claim Depreciation in respect of Equipment Installed in Residential Premises of its Managing Director: ITAT Delhi [Read Order]
The Delhi bench of the ITAT, on Friday held that depreciation under section 32 of the Income Tax Act, 1961 cannot be disallowed to a Company merely for the reason that the equipment was installed in...
![Company can claim Depreciation in respect of Equipment Installed in Residential Premises of its Managing Director: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Depreciation-Taxscan.jpg "Company can claim Depreciation in respect of Equipment Installed in Residential Premises of its Managing Director: ITAT Delhi [Read Order]")
Medical Equipments Imported by Hospital for ‘Own Use’ is exempted from Sales Tax: Madras HC [Read Order]
In a recent ruling, the Madras High Court held that the hospital is not liable to pay Sales Tax under Tamil Nadu Value Added Tax Act in respect of import of medical equipments for its personal...
![Medical Equipments Imported by Hospital for ‘Own Use’ is exempted from Sales Tax: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Medical-Equipments-Taxscan.jpg "Medical Equipments Imported by Hospital for ‘Own Use’ is exempted from Sales Tax: Madras HC [Read Order]")