IndusInd Bank at the Cusp of ICAI-FRRB Scrutiny: Alleged Discrepancy of ₹2,100 Cr in Derivatives Portfolio
One of India’s leading private sector banks, IndusInd Bank, has found itself in hot water with the Financial Reporting Review Board (FRRB) of the The...
![Approved Resolution Plan Cannot be Reopened based on Belatedly agitated Claims: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Approved-Resolution-Plan-Reopened-Belatedly-Claims-NCLAT-TAXSCAN.jpg "Approved Resolution Plan Cannot be Reopened based on Belatedly agitated Claims: NCLAT [Read Order]")
![Existence of Financial Debt and Corresponding Default is a Sine Qua Non for Initiating Proceedings u/s 7 of IBC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Existence-of-Financial-Debt-Corresponding-Proceedings-us-7-of-IBC-NCLAT-TAXSCAN.jpg "Existence of Financial Debt and Corresponding Default is a Sine Qua Non for Initiating Proceedings u/s 7 of IBC: NCLAT [Read Order]")
![S. 12A Amendments on Timely Filing Apply from AY 2018-19, Not Retroactively: ITAT Allows Society’s Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Income-tax-exemption-for-societies.jpg "S. 12A Amendments on Timely Filing Apply from AY 2018-19, Not Retroactively: ITAT Allows Society’s Exemption [Read Order]")
Misdeclaration of Quantity and Value in MACE Grade III Import: CESTAT sets aside Re-determined Value and Penalties [Read Order]
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT)set aside the re-determined value, fine, and penalties in a case involving the alleged misdeclaration of quantity and...
![Misdeclaration of Quantity and Value in MACE Grade III Import: CESTAT sets aside Re-determined Value and Penalties [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/CESTAT-CESTAT-Chennai-MACE-Grade-III-Import-Misdeclaration-TAXSCAN.jpg "Misdeclaration of Quantity and Value in MACE Grade III Import: CESTAT sets aside Re-determined Value and Penalties [Read Order]")
![GST Notices uploaded in Wrong Tab on Portal: Allahabad HC quashes Tax Demand [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/gst-notice.jpg "GST Notices uploaded in Wrong Tab on Portal: Allahabad HC quashes Tax Demand [Read Order]")
Retracted Statement not Incriminating Material u/s 153A: Gauhati HC quashes ₹4.23 Cr Addition [Read Order]Â
In a recent ruling, the Gauhati High Court held that a retracted statement alone cannot be treated as incriminating evidence under Section 153A of the Income Tax Act and quashed the Rs....
![Retracted Statement not Incriminating Material u/s 153A: Gauhati HC quashes ₹4.23 Cr Addition [Read Order]Â](https://www.taxscan.in/wp-content/uploads/2025/03/Gauhati-High-Court.jpg "Retracted Statement not Incriminating Material u/s 153A: Gauhati HC quashes ₹4.23 Cr Addition [Read Order]Â")
Taxation of AOP: ITAT Allows Normal Tax Rates for Charitable Trust, Sets Aside CIT(A)’s Order [Read Order]
The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that a charitable trust, classified as an Association of Persons ( AOP ), should be taxed at normal rates instead of the maximum...
![Taxation of AOP: ITAT Allows Normal Tax Rates for Charitable Trust, Sets Aside CIT(A)’s Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Taxation-of-AOP-Normal-Tax-Rates-Charitable-Trust-taxscan.jpg "Taxation of AOP: ITAT Allows Normal Tax Rates for Charitable Trust, Sets Aside CIT(A)’s Order [Read Order]")
ITAT Deletes Additions on Client Code Modifications in Commodity Trading Citing Genuine Transaction Verification [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the additions made by the Assessing Officer (AO) concerning client code modifications ( CCM ) in commodity trading. Modern...
![ITAT Deletes Additions on Client Code Modifications in Commodity Trading Citing Genuine Transaction Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Service-Tax-Shapoorji-Pallonji-CESTAT-taxscan-1.jpg "ITAT Deletes Additions on Client Code Modifications in Commodity Trading Citing Genuine Transaction Verification [Read Order]")
ITAT Upholds Overseas R&D Expenses as Capital Expenditure, Citing Consistency with Prior Years [Read Order]
The Pune Bench of Income Tax Appellate Tribunal(ITAT) upheld the deduction of overseas Research and Development (R&D) expenses as capital expenditure, citing consistency with prior years. The...
![ITAT Upholds Overseas R&D Expenses as Capital Expenditure, Citing Consistency with Prior Years [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Upholds-RD-Expenses-Capital-Expenditure-Citing-Consistency-with-Prior-Years-Citing-Consistency-taxscan.jpg "ITAT Upholds Overseas R&D Expenses as Capital Expenditure, Citing Consistency with Prior Years [Read Order]")
Tamil Nadu Govt Replaces Rupee Symbol with Tamil Letter in Budget Logo, Triggers Controversy
The Tamil Nadu government has introduced a change in its 2025-26 budget logo, replacing the Indian rupee symbol (₹) with the Tamil letter 'ரூ' (Ru). This letter represents the word "Rupee" in Tamil....
