![Imposition of 100% Penalty under GST Without Proving Fraud: Supreme Court Restores Review Petition for Fresh Consideration [Read Judgement]](https://images.taxscan.in/h-upload/2025/08/19/500x300_2078214-imposition-of-penalty-penalty-under-gst-without-proving-fraud-taxscan.webp "Imposition of 100% Penalty under GST Without Proving Fraud: Supreme Court Restores Review Petition for Fresh Consideration [Read Judgement]")
Imposition of 100% Penalty under GST Without Proving Fraud: Supreme Court Restores Review Petition for Fresh Consideration [Read Judgement]
In a recent ruling, the Supreme Court has directed the Andhra Pradesh High Court to reconsider a review petition challenging the imposition of 100% ...
![Income Tax Rules Amendment: CBDT Fixes ₹4 Lakh Salary and ₹8 Lakh Gross Income Thresholds [Read Notification]](https://images.taxscan.in/h-upload/2025/08/19/250x150_2078208-cbdt-salary-income-tax-rules-taxscan.webp "Income Tax Rules Amendment: CBDT Fixes ₹4 Lakh Salary and ₹8 Lakh Gross Income Thresholds [Read Notification]")
![Govt Exempts Customs Duty and AIDC on Cotton Imports for a Limited Period [Read Notification]](https://images.taxscan.in/h-upload/2025/08/19/250x150_2078196-govt-exempts-customs-duty-customs-duty-taxscan.webp "Govt Exempts Customs Duty and AIDC on Cotton Imports for a Limited Period [Read Notification]")
![ITAT Holds SBI PLR Applicable for Arm’s Length Interest on INR-Denominated FCCDs [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/250x150_2078152-arms-length-interest-taxscan.webp "ITAT Holds SBI PLR Applicable for Arm’s Length Interest on INR-Denominated FCCDs [Read Order]")
ITAT Holds Scrap Sales Taxable as Operating Income: ₹26.18 Lakh Treated from Packing Material [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that receipts from scrap sales, when linked to regular manufacturing activity, are to be treated as operating income for...
![ITAT Holds Scrap Sales Taxable as Operating Income: ₹26.18 Lakh Treated from Packing Material [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/500x300_2078143-itat-scrap-sales-income-packing-material-taxscan.webp "ITAT Holds Scrap Sales Taxable as Operating Income: ₹26.18 Lakh Treated from Packing Material [Read Order]")
Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]
The Calcutta High Court has held that interest earned on surplus lending funds is attributable to banking business and allowable for deduction under section 80 P of the Income Tax Act, 1961. ...
![Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/500x300_2078144-deduction-us-80p2d-of-income-tax-banking-business-taxscan.webp "Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]")
![Issue of Irregular GST ITC: Calcutta HC dismissed Petition being not maintainable [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/500x300_2078135-2062356-gst-itc-input-tax-credit-e-ledger-supreme-court-taxscan.webp "Issue of Irregular GST ITC: Calcutta HC dismissed Petition being not maintainable [Read Order]")
![ITAT directs to delete Income Tax Additions based on Interest Paid on Cash Loans [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078048-itat-income-tax-paid-cash-loans-taxscan.webp "ITAT directs to delete Income Tax Additions based on Interest Paid on Cash Loans [Read Order]")
Non-Filing of Part-B of E-Way Bill for Job Work Movement a Technical Lapse When Part-A Was Produced: Gujarat HC Reduces Penalty [Read Order]
In a recent ruling, the Gujarat High Court held that non-filing of Part-B of the E-Way Bill for goods moved for job work is a technical lapse when Part-A is produced, and such omission does not amount...
![Non-Filing of Part-B of E-Way Bill for Job Work Movement a Technical Lapse When Part-A Was Produced: Gujarat HC Reduces Penalty [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078049-e-way-bill-taxscan.webp "Non-Filing of Part-B of E-Way Bill for Job Work Movement a Technical Lapse When Part-A Was Produced: Gujarat HC Reduces Penalty [Read Order]")
Classification of Goods: Madras HC Directs CESTAT to Consider Precedents Cited by BenQ India While Entertaining Appeal [Read Order]
The Madras High Court has directed the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) to take into account judicial precedents mentioned by BenQ India in relation to the...
![Classification of Goods: Madras HC Directs CESTAT to Consider Precedents Cited by BenQ India While Entertaining Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078043-classification-goods-taxscan.webp "Classification of Goods: Madras HC Directs CESTAT to Consider Precedents Cited by BenQ India While Entertaining Appeal [Read Order]")
AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]
In a recent ruling, the Bombay High Court held that an Assessing Officer cannot go beyond the net profit shown in the profit and loss account except to the extent permitted in the Explanation to...
![AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078071-ao-beyond-net-profit-pl-except-explanation-section-115j-bombay-hc-mahindra-case-taxscan.webp "AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]")