Trump Calls for Abolishing Federal Income Tax: "Tax Foreign Nations, Not Our Citizens"
At a dinner for House Republicans on Wednesday, President Donald Trump shared some bold ideas about the U.S. economy. Speaking at his Trump National...
![CESTAT Allows Larsen & Toubro Ltd. to utilize common Cenvat Credit account for payment of Service Tax on output services provided [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/CESTAT-Cenvat-Credit-account-payment-of-Service-Tax-Service-Tax-Cenvat-Credit-account-for-payment-of-Service-Tax-payment-of-tax-on-excisable-goods-Service-Tax-on-output-services-capital-goods-Taxscan.jpg "CESTAT Allows Larsen & Toubro Ltd. to utilize common Cenvat Credit account for payment of Service Tax on output services provided [Read Order]")
![Foundations S. 80G application rejected for Non-Compliance with CIT(E) Notices: ITAT remands matter for reasonable opportunity [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Charitable-Institutions-Non-Compliance-taxscan.jpg "Foundations S. 80G application rejected for Non-Compliance with CIT(E) Notices: ITAT remands matter for reasonable opportunity [Read Order]")
DGFT eCoO System Revision: Back-to-Back Certificates of Origin on Non-Indian Goods for Re-Export, Trans-Shipment and Merchant Trade
The Directorate General of Foreign Trade ( DGFT ) has issued a Public Notice on the 27th of January, 2025 proposing amendments to Paragraph 2.91 and 2.93 of the Handbook of Procedures 2023, with a...
ITAT Upholds ₹168.61 Crore TDS Credit Due to Form 26AS Discrepancy, Directs AO to Verify Income [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]’s decision allowing Tax Deducted at Source(TDS) credit of ₹168.61 crore, noting...
![ITAT Upholds ₹168.61 Crore TDS Credit Due to Form 26AS Discrepancy, Directs AO to Verify Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Ahmedabad-ITAT-Upholds-Credit-Due-Verify-Income-Directs-AO-Delayed-TDS-Deposits-Income-Tax-Appellate-Tribunal-Income-Tax-taxscan.jpg "ITAT Upholds ₹168.61 Crore TDS Credit Due to Form 26AS Discrepancy, Directs AO to Verify Income [Read Order]")
Collection of Upfront Loan Interests Treated as "Fees": Bajaj Finance gets ₹863.15 Cr GST Demand Notice amidst Profitable Q3 Results
Bajaj Finance Limited, a leading non-banking financial company in India, is facing a significant Goods and Services Tax (GST) demand from the Pune Tax authorities, reported The Hindu Business Line....
![ITAT Quashes Penalty for Under-Reporting: Holds Assessees Actions Bona Fide [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Quashes-Penalty-for-Under-Reporting-Assessees-Actions-Bona-Fide-Assessees-Actions-Bona-Fide-taxpayers-CIT-Income-Tax-Act-DACSS-Granites-Pvt.-Ltd-ITAT-Bengaluru-Taxscan.jpg "ITAT Quashes Penalty for Under-Reporting: Holds Assessees Actions Bona Fide [Read Order]")
Issue on Compliance of Rule 6 of CCR: CESTAT Sets aside Demand Order issued against Mahindra & Mahindra Ltd [Read Order]
The Mumbai bench of the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) set aside the demand order issued against Mahindra & Mahindra Ltd for non compliance of Rule 6 of the...
![Issue on Compliance of Rule 6 of CCR: CESTAT Sets aside Demand Order issued against Mahindra & Mahindra Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/CESTAT-CESTAT-Mumbai-Demand-Order-issued-against-Mahindra-Mahindra-Ltd.-Mahindra-Rule-6-of-CCR-taxscan.jpg "Issue on Compliance of Rule 6 of CCR: CESTAT Sets aside Demand Order issued against Mahindra & Mahindra Ltd [Read Order]")
'Source of Source' Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) clarified that the obligation to explain the "source of source" under Section 68 of the Income Tax Act, 1961, is restricted to credits...
![Source of Source Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Source-of-Loan-Requirement-Restricted-Requirement-Restricted-to-Share-Capital-Share-Capital-Excludes-Unsecured-Loans-Applies-Prospectively-ITAT-taxscan.jpg "Source of Source Requirement Restricted to Share Capital, Excludes Unsecured Loans and Applies Prospectively from AY 2023-24: ITAT [Read Order]")
Income Tax Rules Amendment 2025: New Conditions for Venture Capital Funds, Finance Companies in IFSCs, Retail Schemes, and ETFs [Read Notification]
The Ministry of Finance, through the Central Board of Direct Taxes ( CBDT ), has issued Notification No. 10/2025 dated January 27, 2025, announcing important amendments to the Income Tax Rules, 1962....
![Income Tax Rules Amendment 2025: New Conditions for Venture Capital Funds, Finance Companies in IFSCs, Retail Schemes, and ETFs [Read Notification]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Rules-Income-Tax-Income-Tax-Rules-Amendment-2025-Income-Tax-Rules-Amendment-taxscan.jpg "Income Tax Rules Amendment 2025: New Conditions for Venture Capital Funds, Finance Companies in IFSCs, Retail Schemes, and ETFs [Read Notification]")