![RBI stops Practice of Issuing Letters of Undertaking and Letters of Comfort for Trade Credits [Read Notification]](https://www.taxscan.in/wp-content/uploads/2016/12/RBI-TaxScan.jpg "RBI stops Practice of Issuing Letters of Undertaking and Letters of Comfort for Trade Credits [Read Notification]")
RBI stops Practice of Issuing Letters of Undertaking and Letters of Comfort for Trade Credits [Read Notification]
The Reserve Bank of India ( RBI ) decided to stop the practice of issuing Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade...
![CBEC prescribes Norms for Processing of Refund Applications for UIN Entities [Read Circular]](https://www.taxscan.in/wp-content/uploads/2018/03/UID-Entities.jpg "CBEC prescribes Norms for Processing of Refund Applications for UIN Entities [Read Circular]")
Trust Created for Benefit of Particular Community or Religious Group is not ‘Charitable Trust’: ITAT Denies Tax Exemption [Read Order]
The Hyderabad bench of ITAT has denied the tax exemption of said concern and said that Trust created for benefit of a particular community or a religious group is not ‘Charitable Trust’. In the...
![Trust Created for Benefit of Particular Community or Religious Group is not ‘Charitable Trust’: ITAT Denies Tax Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Tax-Exemption-Taxscan.jpg "Trust Created for Benefit of Particular Community or Religious Group is not ‘Charitable Trust’: ITAT Denies Tax Exemption [Read Order]")
Assessing Officer has No Power to Review Original Assessment without any Fresh Tangible Material: Punjab & Haryana HC [Read Judgment]
In the Case, Commissioner of Income Tax vs Ram Kumar Duhan, Punjab and Haryana High Court jointly held that the Assessing Officer (AO) has no power to review original assessment without any fresh...
![Assessing Officer has No Power to Review Original Assessment without any Fresh Tangible Material: Punjab & Haryana HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2018/02/Assessing-Officer-Taxscan-1.jpg "Assessing Officer has No Power to Review Original Assessment without any Fresh Tangible Material: Punjab & Haryana HC [Read Judgment]")
Interest on Fixed Deposits on Money Received in respect of Share Capital is not Assessable as ‘Other Income’: ITAT [Read Order]
In the Case, Assistant Commissioner of Income Tax vs. M/s Posco India Private Limited, Cuttack bench of Income Tax Appellate Tribunal (ITAT) recently held that interest on fixed deposits on money...
![Interest on Fixed Deposits on Money Received in respect of Share Capital is not Assessable as ‘Other Income’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Share-Capital-Taxscan.jpg "Interest on Fixed Deposits on Money Received in respect of Share Capital is not Assessable as ‘Other Income’: ITAT [Read Order]")
![Provisions of Deemed Dividend not applicable to Current Account Transactions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/08/Deemed-Dividends-Taxscan.jpg "Provisions of Deemed Dividend not applicable to Current Account Transactions: ITAT [Read Order]")
Allahabad HC deletes Addition u/s 69 since Transactions were at Normal Selling Rates and were Properly backed by Sales Tax Forms issued by Parties [Read Order]
The Allahabad High Court has deleted the addition made by the Assessing Officer under Section 69 of the Income Tax Act 1961 since transactions were at normal selling rates and were properly backed by...
![Allahabad HC deletes Addition u/s 69 since Transactions were at Normal Selling Rates and were Properly backed by Sales Tax Forms issued by Parties [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/03/Allahabad-High-Court-Taxscan.jpg "Allahabad HC deletes Addition u/s 69 since Transactions were at Normal Selling Rates and were Properly backed by Sales Tax Forms issued by Parties [Read Order]")