Centre Releases Provisional Accounts for FY 2024–25: Revenue at ₹30.78 Lakh Crore, Expenditure at ₹46.55 Lakh Crore
The Ministry of Finance released the provisional and unaudited accounts of the Government of India for the Financial Year 2024–25 on May 30, 2025....
![ITAT Sets Aside S.263 Order Disallowing Goodwill Depreciation for AY 2016-17, Ruling IND AS 103 Not Applicable [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Income-Tax-Income-Tax-Department-Old-Assessments-Amendment-Banning-Goodwill-Depreciation-Gujarat-HC-taxscan.jpg "ITAT Sets Aside S.263 Order Disallowing Goodwill Depreciation for AY 2016-17, Ruling IND AS 103 Not Applicable [Read Order]")
![Unexplained Property Purchase of Rs. 58 Lakh Leads to Income Addition: ITAT Sets Aside CIT(A) Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Income-Addition-ITAT-taxscan.jpg "Unexplained Property Purchase of Rs. 58 Lakh Leads to Income Addition: ITAT Sets Aside CIT(A) Order [Read Order]")
![Exemption on Interest from Enhanced Compensation u/s 10(37): ITAT Rules It Taxable as Income from Other Sources [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/ITAT-Delhi.webp "Exemption on Interest from Enhanced Compensation u/s 10(37): ITAT Rules It Taxable as Income from Other Sources [Read Order]")
Hawala Transactions: ITAT Upholds Addition on Bogus Purchases Due to Absence of Evidence to Rebut [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT )Â upheld the addition of Rs. 74,61,350 made by the Assessing Officer (AO) , being 25% of purchases treated as bogus due to hawala...
![Hawala Transactions: ITAT Upholds Addition on Bogus Purchases Due to Absence of Evidence to Rebut [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Hawala-Transactions-ITAT-ITAT-Upholds-Addition-Bogus-Purchases-taxscan.jpg "Hawala Transactions: ITAT Upholds Addition on Bogus Purchases Due to Absence of Evidence to Rebut [Read Order]")
Disputes Arise out of Employment Contract Cannot be Adjudicated by NCLT/NCLAT under IBC: NCLAT [Read Order]
The National Company Law Appellate Tribunal (NCLAT) has held that a dispute arising from an employment contract concerning the determination of emoluments and salaries to be paid to an employee of a...
![Disputes Arise out of Employment Contract Cannot be Adjudicated by NCLT/NCLAT under IBC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/Disputes-Arise-Employment-Contract-Disputes-Arise-out-of-Employment-Contract-taxscan.jpg "Disputes Arise out of Employment Contract Cannot be Adjudicated by NCLT/NCLAT under IBC: NCLAT [Read Order]")
Delay cannot be condoned in an appeal u/s 107 of CGST Act: Delhi HC Dismisses Review Petition [Read Order]
In a recent case, the Delhi High Court has held that delay cannot be condoned in an appeal under section 10 of the Central Goods and Service Tax Act, (CGST ), 2017 and dismissed the review petition. ...
![Delay cannot be condoned in an appeal u/s 107 of CGST Act: Delhi HC Dismisses Review Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/05/delhi-hc-taxscan.jpg "Delay cannot be condoned in an appeal u/s 107 of CGST Act: Delhi HC Dismisses Review Petition [Read Order]")
FinMin Amends Import Duty Rates on Crude Edible Oils and Extends Exemption for Yellow Peas [Read Notification]
The Ministry of Finance issued Notification No. 31/2025-Customs dated May 30, 2025, announcing key changes to import duties on select crude edible oils and an extension of duty exemption for yellow...
![FinMin Amends Import Duty Rates on Crude Edible Oils and Extends Exemption for Yellow Peas [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/05/Crude-Edible-Oils.jpg "FinMin Amends Import Duty Rates on Crude Edible Oils and Extends Exemption for Yellow Peas [Read Notification]")
RBI Amends STRIPS Guidelines: Expands Eligibility for Stripping of Government Securities [Read Notification]
The Reserve Bank of India (RBI) has amended its guidelines on STRIPS (Separate Trading of Registered Interest and Principal of Securities), significantly widening the scope of securities eligible for...
Form 10-IC Condonation for AY 2020-21 Only Applicable to Company Opted for Lower Tax Rate u/s 115BAA: Delhi HC dismisses Petition [Read Order]
In a recent ruling, the Delhi High Court has reaffirmed that the condonation provided under Central Board of Direct Taxes ( CBDT ) circular for filing of Form 10-IC for Assessment Year ( AY ) 2020-21...
