Income Tax Department conducts searches in Kolkata
The Income Tax Department carried out search and seizure operation on 09.03.2021 on various persons based in Kolkata, engaged in the business of...
![Interest Free Loan could not be treated as a Financial Debt without evidence that the amount was disbursed for time Value of Money: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Financial-Debt-NCLAT-Interest-free-loan-time-value-of-money-Taxscan.jpg "Interest Free Loan could not be treated as a Financial Debt without evidence that the amount was disbursed for time Value of Money: NCLAT [Read Order]")
![Peak Credit Theory to be considered before treating the Cash Deposit as Unexplained Cash Credits: ITAT remits matter back to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Peak-Credit-Theory-Cash-Deposit-Unexplained-Cash-Credits-ITAT-AO-Taxscan.jpg "Peak Credit Theory to be considered before treating the Cash Deposit as Unexplained Cash Credits: ITAT remits matter back to AO [Read Order]")
![GST: Gujarat High Court directs GSTN to allow Rectification of entries in GSTR-3B Return [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/GST-GSTR-3B-Return-GST-Returns-Gujarat-High-Court-CBIC-Rectification-Taxscan.jpeg "GST: Gujarat High Court directs GSTN to allow Rectification of entries in GSTR-3B Return [Read Order]")
![CBDT notifies Amendment to Rule 10V for Computation of Remuneration payable to Fund Managers [Read Notification]](https://www.taxscan.in/wp-content/uploads/2021/03/CBDT-Amendment-Rule-10V-Computation-of-Remuneration-Fund-Managers-taxscan.jpg "CBDT notifies Amendment to Rule 10V for Computation of Remuneration payable to Fund Managers [Read Notification]")
Burden of Proof on accused to prove Cheque was not issued for discharge of Debt or Liability: Supreme Court interprets NI Act [Read Judgment]
The Supreme Court has reaffirmed that under the Negotiable Instruments Act (NI Act), the burden of proof is on the accused to show that a cheque was not issued for discharge of any debt or liability...
GST Evasion: Patiala House Court refuses to grants Bail to person accused of wrongfully claiming ITC [Read Order]
The Patiala House Court has refused to grant bail to the person accused of wrongfully claiming Input Tax Credit (ITC). The accused, Praveen Jian has moved the second bail application. The accused...
![GST Evasion: Patiala House Court refuses to grants Bail to person accused of wrongfully claiming ITC [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/GST-Evasion-Patiala-House-Court-grants-Bail-bail-wrongfully-claiming-ITC-ITC-Taxscan.jpg "GST Evasion: Patiala House Court refuses to grants Bail to person accused of wrongfully claiming ITC [Read Order]")
CBDT notifies Bennett University under the category of ‘University, College or other institution’ for various Researches to allow Deductions [Read Notifications]
The Central Board of Direct Taxes (CBDT) notified Bennett University under the category of ‘University, College or other institution’ for various researches to allow deductions. “Central...
![CBDT notifies Bennett University under the category of ‘University, College or other institution’ for various Researches to allow Deductions [Read Notifications]](https://www.taxscan.in/wp-content/uploads/2021/03/CBDT-Bennett-University-University-College-or-other-institution-Researches-deductions-Taxscan.jpeg "CBDT notifies Bennett University under the category of ‘University, College or other institution’ for various Researches to allow Deductions [Read Notifications]")
Vehicles used for Transporting Seized Goods need not be kept with Dept. during Investigation: Gujarat High Court orders release of Two Trucks [Read Order]
The Gujarat High Court ordered the release of Trucks seized from office premises of the writ applicants, Surya Roadways. The writ applicant, Surya Roadways challenged the seizure of the two trucks...
![Vehicles used for Transporting Seized Goods need not be kept with Dept. during Investigation: Gujarat High Court orders release of Two Trucks [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/Vehicles-Transporting-Seized-Goods-Dept-Investigation-Gujarat-High-Court-taxscan.jpg "Vehicles used for Transporting Seized Goods need not be kept with Dept. during Investigation: Gujarat High Court orders release of Two Trucks [Read Order]")