RBI Notifies Levy of Penal Interest on Banks for Delayed Reporting of Transactions [Read Notification]
The Reserve Bank of India ( RBI ), on Friday, issued a notification regarding levy of penal interest on the Banks for delayed reporting of...
![Advance received from Customer is Taxable since Builder following Percentage Completion Method of Accounting: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/06/Builders-and-Developers.jpg "Advance received from Customer is Taxable since Builder following Percentage Completion Method of Accounting: ITAT [Read Order]")
![Trust Not Entitled to Tax Exemption in the year in which its Receipts from the Commercial Activities exceed the Threshold Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Trust.jpg "Trust Not Entitled to Tax Exemption in the year in which its Receipts from the Commercial Activities exceed the Threshold Limit: ITAT [Read Order]")
Expenses towards Medical Reimbursement to Employees would not attract Fringe Benefits Tax: ITAT [Read Order]
The Kolkata bench of ITAT in the case of Tata Global Beverages Ltd. versus A.C.I.T held that expenditure incurred by the employer towards medical reimbursement to his employees would not constitute...
![Expenses towards Medical Reimbursement to Employees would not attract Fringe Benefits Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Fringe-Benefit-Tax-TaxScan.jpg "Expenses towards Medical Reimbursement to Employees would not attract Fringe Benefits Tax: ITAT [Read Order]")
Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]
The Indore bench of ITAT in the case of Omprakash Phatandas Panjwani vs. ACIT has held that the receipt from sale of shares held in DMAT account through recognized stock exchange which is verifiable...
![Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Stock-Exchange-Taxscan.jpg "Receipt from Sale of Shares held in DMAT A/c through Recognized Stock Exchange which is evident through Contract Note can’t be treated as Unexplained: ITAT [Read Order]")
Indian Advance Pricing Agreement regime moves forward with signing of five UAPAs and two BAPAs by CBDT in Jan, 2018
The Central Board of Direct Taxes ( CBDT ) has entered into five Unilateral Advance Pricing Agreements (UAPA) and two Bilateral Advance Pricing Agreements (BAPA) during the month of January, 2018....
Disposable Bed Pads / Bed Sheets are not classifiable as 'Baby and Clinical Diapers': CESTAT denies CVD Exemption [Read Order]
The New Delhi CESTAT in the case of M/s Keshwanand Chemicals (P) Ltd vs. CCE, denied countervailing duty exemption on disposable bed pads/ bed sheets which are not classifiable as the baby and...
![Disposable Bed Pads / Bed Sheets are not classifiable as Baby and Clinical Diapers: CESTAT denies CVD Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/02/Bed-Pads-Taxscan.jpg "Disposable Bed Pads / Bed Sheets are not classifiable as Baby and Clinical Diapers: CESTAT denies CVD Exemption [Read Order]")