![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]")
Thomson Press's Disallowance of Export Income Deductions u/s 10B: ITAT directs AO to Reverify and Recompute Deductions [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) directed the Assessing Officer (AO) to reverify and recompute the disallowance of export...
![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]](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")
Madras HC directs Disposal of Pending Appeal for AY 2019-20 within Four Months Amid Recovery Proceedings [Read Order]
The Madras High Court, directed the disposal of a pending appeal for Assessment Year(AY) 2019-20 within four months amid recovery proceedings.Ashoka Textiles,petitioner-assessee,filed an appeal on...
![Madras HC directs Disposal of Pending Appeal for AY 2019-20 within Four Months Amid Recovery Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Madras-HC-Disposal-of-Pending-Appeal-AY-2019-20-Four-Months-Recovery-Proceedings-taxscan.jpg "Madras HC directs Disposal of Pending Appeal for AY 2019-20 within Four Months Amid Recovery Proceedings [Read Order]")
Income from Mushroom Cultivation Qualifies as Agricultural Income, Exempt u/s 10(1): ITAT Dismisses Revenue’s Appeal [Read Order]
The Nagpur Bench of Income Tax Appellate Tribunal(ITAT) dismissed the Revenue’s appeal, affirming that income from mushroom cultivation qualifies as agricultural income exempt under Section 10(1) of...
![Income from Mushroom Cultivation Qualifies as Agricultural Income, Exempt u/s 10(1): ITAT Dismisses Revenue’s Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Mushroom-Cultivation.jpg "Income from Mushroom Cultivation Qualifies as Agricultural Income, Exempt u/s 10(1): ITAT Dismisses Revenue’s Appeal [Read Order]")
FM Nirmala Sitharaman Indicates 19.7 Lakh Crore Increase in Overall Credit Disbursement to Priority Sectors in 6-Year Period
Union Finance Minister Nirmala Sitharaman, in a written reply in Lok Sabha announced that India’s priority sector lending has witnessed an 85% surge over the past six years, with total credit...
