![Supreme Court Directs Nowhera Shaik to Pay ₹25 Crore to ED, Warning Revocation of Bail in Heera Gold Scam Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Supreme-Court-Nowhera-Shaik-Supreme-Court-Directs-Nowhera-Shaik-Warning-Revocation-of-Bail-Warning-Revocation-Heera-Gold-Scam-Case-taxscan.jpg "Supreme Court Directs Nowhera Shaik to Pay ₹25 Crore to ED, Warning Revocation of Bail in Heera Gold Scam Case [Read Order]")
Supreme Court Directs Nowhera Shaik to Pay ₹25 Crore to ED, Warning Revocation of Bail in Heera Gold Scam Case [Read Order]
The Supreme Court of India recently issued a final ultimatum to Nowhera Shaik, founder and managing director of Heera Gold Exim Pvt Ltd, to deposit...
![No Export Inspection Certificate Required for Rice Exports to Non-EU European Countries for Six Months: DGFT [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/03/No-Export-Inspection-Certificate-Export-Inspection-Required-for-Rice-Exports-European-Countries-Non-EU-European-Countries-DGFT-taxscan.jpg "No Export Inspection Certificate Required for Rice Exports to Non-EU European Countries for Six Months: DGFT [Read Notification]")
![CBDT Introduces Ten-Year Zero Coupon Bond by Power Finance Corporation Ltd. with Tax Benefits [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/03/CBDT-Ten-Year-Zero-Coupon-Bond-Power-Finance-Corporation-Ltd-TAXSCAN.jpg "CBDT Introduces Ten-Year Zero Coupon Bond by Power Finance Corporation Ltd. with Tax Benefits [Read Notification]")
![Thomson Presss Disallowance of Export Income Deductions u/s 10B: ITAT directs AO to Reverify and Recompute Deductions [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Thomson-Press-Disallowance-of-Export-Income-Deductions-Export-Income-Deductions-ITAT-ITAT-Directs-Reverify-and-Recompute-Deductions-taxscan.jpg "Thomson Presss Disallowance of Export Income Deductions u/s 10B: ITAT directs AO to Reverify and Recompute Deductions [Read Order]")
![DGFT Amends Export Policy of Broken Rice from Prohibited to Free [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/03/Broken-Rice-Broken-Rice-DGFT-taxscan.jpg "DGFT Amends Export Policy of Broken Rice from Prohibited to Free [Read Notification]")
![DGFT Extends Import Period for Yellow Peas [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/03/DGFT-Extends-Import-Period-Yellow-Peas-taxscan.jpg "DGFT Extends Import Period for Yellow Peas [Read Notification]")
No Penalty can be Imposed u/s 271(1)(c) When Income Addition is based on Estimation: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) uled that no penalty can be imposed under Section 271(1)(c) of Income Tax Act,1961 when income addition is based on estimation. Maruti...
![No Penalty can be Imposed u/s 271(1)(c) When Income Addition is based on Estimation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/No-Penalty-Income-Tax-Addition-Income-taxscan.jpg "No Penalty can be Imposed u/s 271(1)(c) When Income Addition is based on Estimation: ITAT [Read Order]")
ITAT Upholds CIT(A) Deletion of ₹2.17 Crore Addition u/s 69C Due to Lack of Evidence on Unexplained Expenditure [Read Order]
The Nagpur Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals) [CIT(A)]’s decision to delete the ₹2.17 crore addition made under Section 69C of Income Tax...
![ITAT Upholds CIT(A) Deletion of ₹2.17 Crore Addition u/s 69C Due to Lack of Evidence on Unexplained Expenditure [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Unexplained-Expenditure.jpg "ITAT Upholds CIT(A) Deletion of ₹2.17 Crore Addition u/s 69C Due to Lack of Evidence on Unexplained Expenditure [Read Order]")
Customs cannot Deny IGST Refund to Exporter even if Higher Rate of Duty Drawback was Availed: Madras HC [Read Order]
In a significant ruling, the Madras High Court, Madurai Bench, has held that the Customs Department cannot deny refund of Integrated Goods and Services Tax (IGST) to exporters merely on the grounds...
![Customs cannot Deny IGST Refund to Exporter even if Higher Rate of Duty Drawback was Availed: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Customs-IGST-Refund-IGST-Refund-to-Exporter-Higher-Rate-of-Duty-Drawback-Duty-Drawback-Duty-Drawback-was-Availed-Madras-HC-taxscan.jpg "Customs cannot Deny IGST Refund to Exporter even if Higher Rate of Duty Drawback was Availed: Madras HC [Read Order]")
Bank of Baroda Invites EOI for Empanelment of CAs with Local Offices to Conduct Concurrent Audit for 3 Years
The Bank of Baroda (BoB) has issued an Expression of Interest (EOI) seeking Chartered Accountant (CA) firms for empanelment to conduct Concurrent Audits of its branches and other units across India....
![Settlement Application Validity Under Clause [iv] of S.245A: Madras HC Confirms Deemed Pendency Before March 31, 2021](https://www.taxscan.in/wp-content/uploads/2025/03/Madras-High-Court-Income-Tax-Settlement-Cases-Section-245A-Income-Tax-Act-TAXSCAN.jpg "Settlement Application Validity Under Clause [iv] of S.245A: Madras HC Confirms Deemed Pendency Before March 31, 2021")