deduction

Assessee entitled for Income Tax Deduction where Separate Books of Account are maintained on Export: Madras HC [Read Judgment]

August 27, 2021

Wrong Claim for Deduction - Penalty - ITAT - Taxscan

Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c): ITAT [Read Order]

July 22, 2021

Tech Mahindra - ITAT - AO - deduction on foreign exchange gain - Taxscan

Relief to Tech Mahindra: ITAT directs AO to allow Income Tax Deduction on Foreign Exchange Gain [Read Order]

July 5, 2021

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GST Evasion - Gauhati High Court - supplying goods - invoices - Taxscan

GST Evasion: Gauhati HC grants Bail to person accused of deliberately Supplying Goods without issuing Invoices [Read Order]

September 16, 2021

The Gauhati High Court granted the bail to the person accused of deliberately supplying goods without issuing invoices. The petitioner, Subhash Kumar Singh was served with a notice under Section 50 of Cr.P.C. by the Superintendent of State Tax Assam, BIEO, Assam, Srimantapur, Guwahati under the provision of Section 132(1) (i) of the Assam GST […]

Export Profits - ITAT - EEFC Account - Income Tax Deduction - Tech Mahindra - Taxscan

Export Profits in EEFC Account constitutes Income of Business Undertaking: ITAT allows Deduction to Tech Mahindra [Read Order]

September 16, 2021

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has recently allowed a deduction claim of Tech Mahindra and held that the export profits kept in the EEFC account are the income of the business undertaking for which, deduction under section 10A of the Income Tax Act, 1961. The assessee has earned interest income on fixed […]

FTP Schemes - Duty Credit Scrips - Taxscan

Govt. notifies Last Date for Submitting Applications for Scrip based FTP Schemes and Validity Period of Duty Credit Scrips [Read Notification]

September 16, 2021

The Government notified the last Date for Submitting applications for Script-based FTP Schemes and the validity period of Duty Credit Scrips. The Government empowered under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 1.02 of the Foreign Trade Policy, 2015-20 and the enabling para 3.13 of the FTP, inserted […]

GST - CBIC - E-Way Bill - Principal Supply - Supply of Services - Taxscan

GST: CBIC issues Advisory for Generation of E-Way Bill where the Principal Supply is Supply of Services

September 16, 2021

The Central Board of Indirect Taxes and Customs ( CBIC ) has issued Advisory for Generation of E-Way Bill where the Principal Supply is Supply of Services. The CBIC has said that Representations have been received from various trade bodies stating that they are not able to generate EWB bill for movement of those goods […]

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GST Evasion: Gauhati HC grants Bail to person accused of deliberately Supplying Goods without issuing Invoices [Read Order]

September 16, 2021

Export Profits in EEFC Account constitutes Income of Business Undertaking: ITAT allows Deduction to Tech Mahindra [Read Order]

September 16, 2021

Govt. notifies Last Date for Submitting Applications for Scrip based FTP Schemes and Validity Period of Duty Credit Scrips [Read Notification]

September 16, 2021

GST: CBIC issues Advisory for Generation of E-Way Bill where the Principal Supply is Supply of Services

September 16, 2021

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