![Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Supreme-Court-Income-Tax-Deduction-stock-in-trade-Broken-Period-Interest-TAXSCAN.jpg "Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]")
Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]
The Supreme Court has recently held that broken period interest incurred on securities treated as stock-in-trade is in the nature of revenue expense...
![5% GST Leviable on Specific Essential Inputs including equipment, material, consumables, tools etc., Purchased Domestically or Imported for Ship Manufacturing: AAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/AAR-Andhra-Pradesh-GST-on-imported-shipbuilding-tools-GST-News-TAXSCAN.jpg "5% GST Leviable on Specific Essential Inputs including equipment, material, consumables, tools etc., Purchased Domestically or Imported for Ship Manufacturing: AAR [Read Order]")
![SC Dismisses Rs. 5L Cost imposed by Allahabad HC against Income Tax Dept for Initiating Reassessment with Incorrect Information [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Supreme-Court-Allahabad-High-Court-Allahabad-HC-Income-Tax-Dept-Reassessment-with-Incorrect-Information-taxscan.jpg "SC Dismisses Rs. 5L Cost imposed by Allahabad HC against Income Tax Dept for Initiating Reassessment with Incorrect Information [Read Order]")
![CESTAT upholds Central Excise Duty Demand due to Raw Material and Finished Goods Shortage u/s 11A, confirms Liability for Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/CESTAT-CESTAT-Delhi-central-excise-penalty-Excise-Duty-of-Raw-Material-TAXSCAN.jpeg "CESTAT upholds Central Excise Duty Demand due to Raw Material and Finished Goods Shortage u/s 11A, confirms Liability for Penalty [Read Order]")
CESTAT Rejects Refund claim amidst Pending SCN for Interest on delayed Payment due to Post-Clearance Oil Price Variations [Read Order]
The Ahmedabad bench of the Customs Excise and Service Tax Appellate Tribunal ( CESTAT ) has rejected the refund claim for interest on delayed payment due to post-clearance oil price variations,...
![CESTAT Rejects Refund claim amidst Pending SCN for Interest on delayed Payment due to Post-Clearance Oil Price Variations [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/CESTAT-CESTAT-Ahmedabad-Refund-Claim-SCN-Pending-SCN-Show-cause-notice-taxscan.jpg "CESTAT Rejects Refund claim amidst Pending SCN for Interest on delayed Payment due to Post-Clearance Oil Price Variations [Read Order]")
Delhi HC dismisses Petition Challenging Bail in Rs.200 Crore fake GST invoice Case: Statutory Bail u/s 167 Recognized as Constitutional Right [Read Order]
In a recent ruling, the Delhi High Court held that the Commissioner of Central Tax, GST Delhi (West) dismissed a petition challenging bail in a Rs. 200 crore fake GST invoice case. In this case,...
![Delhi HC dismisses Petition Challenging Bail in Rs.200 Crore fake GST invoice Case: Statutory Bail u/s 167 Recognized as Constitutional Right [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/GST-Goods-and-Service-Tax-GST-Delhi-Fake-GST-invoice-case-bail-TAXSCAN.jpg "Delhi HC dismisses Petition Challenging Bail in Rs.200 Crore fake GST invoice Case: Statutory Bail u/s 167 Recognized as Constitutional Right [Read Order]")
[BREAKING] No Quashing of NI Act S.138 Cheque Bounce Case by HC u/s 482 CrPC without Consent of Complainant: Supreme Court [Read Judgement]
The Supreme Court recently held that High Court is bereft of the power to quash a case under Section 138 of the Negotiable Instruments Act, using the powers inherent to it under Section 482 of the...
Reassessment of Income u/s 153A impermissible without Incriminating Evidence: Karnataka HC upholds Deletion of Assessed Income [Read Order]
The Karnataka High Court recently held in an Income Tax Appeal that the provisions under Section 153A of the Income Tax Act, 1961 does not permit an Assessing Officer ( AO ) to reassess the income of...
![Reassessment of Income u/s 153A impermissible without Incriminating Evidence: Karnataka HC upholds Deletion of Assessed Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Income-Tax-Appeal-Assessing-Officer-Reassessment-of-Income-TAXSCAN.jpg "Reassessment of Income u/s 153A impermissible without Incriminating Evidence: Karnataka HC upholds Deletion of Assessed Income [Read Order]")
Interest not Leviable in Absence of Taxable due under Assam General Sales Tax Act: Gauhati HC [Read Order]
The Gauhati High Court has held that interest is not leviable in the absence of taxable due under the Assam General Sales Tax Act, 1993. The court held that the assessing officer and the appellate...
![Karnataka HC cancels GST Notices Issued to Non-Existent Entity, Overturns Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Karnataka-HC-GST-Notices-Non-Existent-Entity-Karnataka-HC-Cancels-GST-Notices-Overturns-Proceedings-Karnataka-High-Court-GST-news-GST-Goods-and-service-tax-taxscan.jpg "Karnataka HC cancels GST Notices Issued to Non-Existent Entity, Overturns Proceedings [Read Order]")
