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Foreign Currency -Foreign Currency Billing - Taxscan

CBEC notifies Exchange Rate of Foreign Currency Relating To Imported and Export Goods

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board...

Assessees’ Right to Appeal cannot be denied by Applying Doctrine of Estoppel: ITAT Bangalore [Read...

RBI identifies Accounts for Reference by Banks under the Insolvency and Bankruptcy Code

Society cannot Claim Exemption in respect of Investment in Fixed Asset using Loan Amount: ITAT...

Amendment to IT Act enabling Adjustment of Seized Assets against Advance Tax do not have...

GST: Centre proposes to Postpone Implementation of E-Way Bills

With just a few days left for the roll out of India’s most awaited Indirect tax regime, the Cenral Govt proposing to postpone the implementation of the e-way bill as per which the movement of good...

Member of HUF is not assessable for HUF’s Income on Acquisition of Excise License after the Demise of Karta: ITAT Bangalore

In P.G Sunandamma v. ITO, the ITAT, Bangalore, held that the transfer of excise license to a member of HUF on death of Karta cannot be reason to assess HUF’s income in the hands of that individual...

CIC directs CBDT to equip its Officials to discharge their Duties under RTI Act [Read Order]

The Central Information Commission (CIC) recently directed the Central Board of Direct Taxes (CBDT) to take necessary measures to educate the departmental officials to equip them to discharge their...

Section 50C Applicable to Sale of Leasehold Rights, says ITAT Delhi [Read Order]

In ITO v. Sh. Chander Sekhar, the ITAT Delhi held that income earned from transfer of leasehold rights is chargeable to Income Tax under section 50C of the Income Tax Act which provides for special...

Gujarat HC deletes Addition of 2.3 crores against Gujarat Rural Industries Marketing Corporation [Read Judgment]

In a major relief to Gujarat Rural Industries Marketing Corporation, the division bench of the Gujarat High Court deleted addition of 2.3 crores made by the Income Tax authorities. Assessee, is a...

CBDT notifies Transfer Pricing Tolerance Limit for AYs 2017-18 and 2018-19 [Read Notification]

The Central Board of Direct Taxes (CBDT) recently notified the transfer pricing tolerance limit for computation of Arm’s Length Price (ALP) applicable to assessment years 2017-18 and 2018-19. As per...

GSTN holds a Review Meeting with GST Suvidha Providers to Assess Readiness for GST roll-out from 1st July

GSPs advised to continue to visit the GSP ecosystem webpage on the GSTN website (www.gstn.org/ecosystem) for all information, latest updates and guidelines. GSTN called a meeting with all the...

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