CA Exams May 2025: ICAI Releases BOS Publication List
The Institute of Chartered Accountants of India (ICAI) has released the Board of Studies (BOS) publication list applicable for the May 2025 Chartered...
![Relief to BCCI: Bombay HC quashes Revenue Order Prohibiting Income Tax Exemption for Lack of Statutory Power [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Bombay-High-Court-BCCI-Income-tax-Relief-to-BCCI-Income-Tax-Exemption-TAXSCAN.jpg "Relief to BCCI: Bombay HC quashes Revenue Order Prohibiting Income Tax Exemption for Lack of Statutory Power [Read Order]")
![Disallowance of ₹50.05 Lakh u/s 37(1): ITAT directs AO to verify Business Commencement [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Disallowance-ITAT-AO-verify-Business-Commencement-taxascan.jpg "Disallowance of ₹50.05 Lakh u/s 37(1): ITAT directs AO to verify Business Commencement [Read Order]")
![Any dispute even Pending Arbitration does not Prohibit Financial Creditors to avail remedy u/s 7 of IBC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Pending-Arbitration-Prohibit-Financial-Creditors-Financial-Creditors-dispute-even-Pending-Arbitration-avail-remedy-section-7-of-IBC-IBC-taxscan.jpg "Any dispute even Pending Arbitration does not Prohibit Financial Creditors to avail remedy u/s 7 of IBC: NCLAT [Read Order]")
Ageing Effect is Standard Practice for Valuing Inventory at NRV: ITAT deletes Addition for Alleged Stock Undervaluation [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made due to the alleged undervaluation of stock, ruling that the assessee’s practice of applying an ageing effect for...
![Ageing Effect is Standard Practice for Valuing Inventory at NRV: ITAT deletes Addition for Alleged Stock Undervaluation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Stock-Undervaluation.jpg "Ageing Effect is Standard Practice for Valuing Inventory at NRV: ITAT deletes Addition for Alleged Stock Undervaluation [Read Order]")
![Penalty on Co-Noticee not Sustainable when Main Case Settled under SVLDRS: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/CESTAT-CESTAT-Ahmedabad-Excise-and-Customs-CESTAT-on-co-noticee-penalty-TAXSCAN.jpg "Penalty on Co-Noticee not Sustainable when Main Case Settled under SVLDRS: CESTAT [Read Order]")
![Late Submission of Form 56F for S.10AA Deduction: ITAT Restores Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Ahmedabad-Form-56F-Form-56F-Late-submission-Section-10AA-of-Income-Tax-Act-Taxscan.jpg "Late Submission of Form 56F for S.10AA Deduction: ITAT Restores Deduction [Read Order]")
ITAT grants Rs. 4.07 Crore Tax Exemption Despite Procedural Delay in Form 10BB Validation [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) allowed a tax exemption of Rs. 4.07 crore to a public charitable trust, despite a procedural delay in the validation of Form 10BB. ...
![ITAT grants Rs. 4.07 Crore Tax Exemption Despite Procedural Delay in Form 10BB Validation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-4.07-Crore-Tax-Exemption-Despite-Procedural-Delay-Form-10BB-Validation-taxscan.jpg "ITAT grants Rs. 4.07 Crore Tax Exemption Despite Procedural Delay in Form 10BB Validation [Read Order]")
Reversal of Cenvat Credit on Trading of Exempted Goods: CESTAT Remands matter for Verification [Read Order]
The Kolkata bench of the Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) remanded the file for verification of Cenvat Credit on Trading Activities. According to the department, the...
![Reversal of Cenvat Credit on Trading of Exempted Goods: CESTAT Remands matter for Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/CESTAT-CESTAT-Kolkata-Reversal-of-Cenvat-Credit-Cenvat-Credit-TAXSCAN.jpg "Reversal of Cenvat Credit on Trading of Exempted Goods: CESTAT Remands matter for Verification [Read Order]")
ITAT Quashes Reopening based on Investigation Wing’s Information without Independent Verification, Holds Invalid [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) quashed the reopening of assessment under Section 147 of the Income Tax Act, 1961, ruling that reassessments based purely on external...
![ITAT Quashes Reopening based on Investigation Wing’s Information without Independent Verification, Holds Invalid [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/itat-3.jpg "ITAT Quashes Reopening based on Investigation Wing’s Information without Independent Verification, Holds Invalid [Read Order]")