![Cess Collected under BOCW Act is Taxable Income, not a Grant, Despite Section 12A Registration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Income-Tax-Cess-Collection-Cess-on-Income-Tax-TAXSCAN.jpg "Cess Collected under BOCW Act is Taxable Income, not a Grant, Despite Section 12A Registration: ITAT [Read Order]")
Cess Collected under BOCW Act is Taxable Income, not a Grant, Despite Section 12A Registration: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) denied tax exemption for cess collected under the Building and Other Construction Work Act,...
Gujarat HC quashes Income Tax Reassessment Proceedings initiated after 4 years on Deduction Claim u/s 80IA(4)(iv)
The Gujarat High Court quashed the Income Tax reassessment proceedings initiated after 4 years on deduction claim under Section 80IA(4)(iv) of the Income Tax Act, 1961. The assessee, Facets Gems...
Himachal Pradesh HC sets aside Demand for Income Tax of Rs. 2.73 crores, as Company’s Account Properly Reflects Transaction [Read Order]
The two-member bench of the Himachal Pradesh High Court has set aside the demand for Income Tax amounting to Rs. 2.73 crores, as the company's account properly reflects the transaction." The...
![Himachal Pradesh HC sets aside Demand for Income Tax of Rs. 2.73 crores, as Company’s Account Properly Reflects Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-Tax-Himachal-Pradesh-High-Court-Companys-account-transactions-income-tax-TAXSCAN.jpg "Himachal Pradesh HC sets aside Demand for Income Tax of Rs. 2.73 crores, as Company’s Account Properly Reflects Transaction [Read Order]")
Financial Reporting for Companies: 7 Objectives to Keep in Mind during Preparation and Audit of Financial Statements
Financial statements provide the exact and lucid mirror image of the financial state of a company, firm or enterprise in business finance. Financial statements, including Balance Sheet, Profit and...
No Excuse for SCN ignorance on uploaded on “View Additional Notices and Orders” tab on GST Portal: Madras HC sets aside Order on Pre-deposit Condition [Read Order]
In a recent ruling, the Madras High Court observed that there is no excuse for the ignorance of Show Cause Notice ( SCN ) as uploaded on the “View Additional Notices and Orders” tab on GST Portal ...
![No Excuse for SCN ignorance on uploaded on “View Additional Notices and Orders” tab on GST Portal: Madras HC sets aside Order on Pre-deposit Condition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Madras-high-court-Ignorance-of-SCN-Notices-and-Orders-Excuse-for-SCN-GST-portal-TAXSCAN.jpg "No Excuse for SCN ignorance on uploaded on “View Additional Notices and Orders” tab on GST Portal: Madras HC sets aside Order on Pre-deposit Condition [Read Order]")
Service Tax Demand under Work Contract Service is not Valid as assessee was not Registered for the same: CESTAT [Read Order]
The Allahabad bench of the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) has held that service tax demand under work contract service is not valid as the assessee was not...
![Service Tax Demand under Work Contract Service is not Valid as assessee was not Registered for the same: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Work-Contract-Service-CESTAT-Allahabad-Tax-news-Service-Tax-Demand-under-Work-Contract-Service-Taxscan.jpg "Service Tax Demand under Work Contract Service is not Valid as assessee was not Registered for the same: CESTAT [Read Order]")