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SCN issued in 2008 Not Adjudicated for 15 Years: Delhi HC Rejects Placement of Matter in Call Book Excuse, Quashes 2024 Order [Read Order]

Kavi Priya

In a recent ruling, the Delhi High Court quashed a Show Cause Notice ( SCN ) issued in 2008 and an Order-in-Original dated 31.01.2024, citing an...

Maharashtra Customs Commissioner Launches Electronic Voluntary Payment System on ICEGATE Platform...

CBI DySP Among 4 Caught in ₹20 Lakh Bribery Scandal Linked to Customs Corruption Probe

Fake GST Summons Alert: CBIC Warns Taxpayers, Offers Verification and Reporting Tools

Undervaluation of Closing Stock: ITAT upholds CIT(A)'s decision to delete Rs. 2.92 Crore addition...

Disallowance of ₹16.84 Lakhs as LC Discounting Charges u/s 36(1)(iii): ITAT Finds Addition Unjustified [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) found the addition of ₹16.84 Lakhs as LC discounting charges under Section 36(1)(iii) of Income Tax Act,1961 to be unjustified. BPS...

GSTN issues Advisory on Alternate Mechanism and Business Continuity for e-Invoice & e-Waybill Systems

The Goods and Services Tax Network ( GSTN ) has recently released an Advisory dated 24 January, 2025 sharing important updates regarding alternate mechanisms and business continuity plans for...

ITAT Remands Rs. 1473.8 Crore Unexplained Money Addition for Fresh Assessment, due to Lack of Fair Hearing [Read Order]

The Delhi Income Tax Appellate Tribunal ( ITAT ) remanded the addition of Rs. 1,473.8 crore as unexplained money for fresh assessment due to a lack of fair hearing. The assessee, Alok Dev,...

Supreme Court & High Courts Weekly Round-up [Jan 18th to Jan 24th,2025]

This weekly round-up analytically summarizes the key stories related to the Supreme Court and High Court reported at Taxscan.in during the previous week 18th January 2025 to 24th January 2025) ...

Verification of Cash Deposits as Trust Income: ITAT Remands Matter to AO [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO) for verification of cash deposits as trust income. Bhiwandi Nizampur Nagarpalika...

[Breaking] S. 87A Rebate Update: Bombay HC Rules Rebate Applies to Total Tax, Including Special Rates Unless Explicitly Excluded [Read Order]

In a recent ruling, the Bombay High Court ruled that the rebate under Section 87A of the Income Tax Act, 1961, applies to the total tax liability of eligible taxpayers, including tax on income...

Unexplained Cash Credits of Rs. 12.83 Crores Added u/s 68: ITAT Upholds CIT(A)'s Deletion [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the decision of the Commissioner of Income Tax(Appeals) [ CIT(A) ] in deleting the addition of Rs. 12.83 Crores made by the...

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