Income Tax Department carries out searches in Jammu & Kashmir
The Income Tax Department carried out a search and seizure operation on a prominent Hotelier, owning a chain of Hotels at Srinagar, Gulmarg,...
![MCA notifies the Insolvency and Bankruptcy Board of India (Annual Report) Amendment Rules, 2020 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/09/MCA-Insolvency-Bankruptcy-Board-Annual-Report-Taxscan.jpeg "MCA notifies the Insolvency and Bankruptcy Board of India (Annual Report) Amendment Rules, 2020 [Read Notification]")
![SEBI issues clarification on Collection and Reporting of Margins by Trading Member / Clearing Member in Cash Segment [Read Circular]](https://www.taxscan.in/wp-content/uploads/2020/09/SEBI-Trading-Member-Clearing-Member-Cash-Segment-Taxscan.jpeg "SEBI issues clarification on Collection and Reporting of Margins by Trading Member / Clearing Member in Cash Segment [Read Circular]")
![Landfill-pit isn’t ‘plant and machinery’ but a ‘civil-structure’: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/AAR-plant-machinery-civil-structure-Taxscan.jpg "Landfill-pit isn’t ‘plant and machinery’ but a ‘civil-structure’: AAR [Read Order]")
Automation in Finance functions: Chartered Accountants bodies of India and UK releases Report [Read Report]
The Institute of Chartered Accountant of India (ICAI) came up with a research report on Automation in finance functions has been carried out in collaboration with the Institute of Chartered...
RBI directs Banks to put in place systems for Automation of Income Recognition, Asset Classification and Provisioning
The Reserve Bank of India (RBI) on Monday has directed banks to introduce an automated IT-based system for asset classification and provisioning. The RBI with the objective to ensure the...
Start-up Funding likely to get attractive: Parliamentary panel Suggests Abolishing LTCG Tax on Start-up Investments
The Standing Committee on Finance chaired by BJP leader Jayant Sinha has “strongly recommended” to the Centre to abolish tax on Long Term Capital Gains (LTCG) for all investments in startups. In a...
![DGFT notifies Streamlining of UQCs in DGFT’s EDI system & Customs’ ICEGATE [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/09/UQCs-DGFT-EDI-system-ICEGATE-Taxscan.jpeg "DGFT notifies Streamlining of UQCs in DGFT’s EDI system & Customs’ ICEGATE [Read Notification]")
Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]
The Madras High Court held that the Assessing Officer (AO) rightly disallowed depreciation on the purchase of windmill. The assessee, V. Sabitamani an individual filed for return of income for the...
![Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/Assessing-Officer-Madras-High-Court-windmill-Taxscan.jpg "Assessing Officer rightly disallowed Depreciation on the Purchase of Windmill: Madras High Court [Read Judgment]")
Madras HC directs Customs Authority for Provisional Release of Containers of used Rubber Tyre Cut in Two Pieces upon payment of Customs Duties [Read Order]
The Madras High Court directed the custom authority to provisionally release Containers of Used Rubber Tyre Cut in Two Pieces upon payment of customs duties within a period of three weeks. The...
![Madras HC directs Customs Authority for Provisional Release of Containers of used Rubber Tyre Cut in Two Pieces upon payment of Customs Duties [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/09/Rubber-Tyre-Cut-Taxscan.jpeg "Madras HC directs Customs Authority for Provisional Release of Containers of used Rubber Tyre Cut in Two Pieces upon payment of Customs Duties [Read Order]")
No Retrospective effect for Customs Notification increasing Duty on Peas: Madras High Court [Read Judgment]
The Madurai Bench of Madras High Court consisting of Justice M Sathyanarayan and Justice P Rajamanickam, while dismissing an appeal filed by The Commissioner of Customs, Tuticorin against M/S....
![No Retrospective effect for Customs Notification increasing Duty on Peas: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/09/retrospective-effect-Customs-Madras-High-Court-Peas-Taxscan-1.jpg "No Retrospective effect for Customs Notification increasing Duty on Peas: Madras High Court [Read Judgment]")