RBI Withdraws Legacy Circulars on Cheque Collection as Part of Regulatory Review [Read Circular]
The Reserve Bank of India (RBI) has issued Notification No. DOR.CO.SOG(Leg) No.15/09.08.024/2025-26 dated April 8, 2025, announcing the withdrawal of...
![ITAT directs Reconsideration of LTCG Claim owing to New Evidence including Cheque Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-LTCG-Claim-Evidence-Cheque-Transactions-taxscan.jpg "ITAT directs Reconsideration of LTCG Claim owing to New Evidence including Cheque Transactions [Read Order]")
Issuance of Cheque to Associate Concerns from OCC Account cannot be Construed as Diversion of WC Loan Fund: ITAT deletes addition of Rs. 79.15cr [Read Order]
The Chennai bench of Income Tax Appellate Tribunal (ITAT) observed that issuance of cheque to associate concerns from OCC account cannot be construed as diversion of working capital loan Fund. The...
![Issuance of Cheque to Associate Concerns from OCC Account cannot be Construed as Diversion of WC Loan Fund: ITAT deletes addition of Rs. 79.15cr [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Issuance-of-Cheque-Associate-Concerns-from-OCC-Account-Diversion-of-WC-Loan-Fund-Issuance-of-Cheque-to-Associate-Concerns-ITAT-deletes-addition-taxscan.jpg "Issuance of Cheque to Associate Concerns from OCC Account cannot be Construed as Diversion of WC Loan Fund: ITAT deletes addition of Rs. 79.15cr [Read Order]")
Cash Payment of Defaulted EMI Instalment to Financier after Cheque Bounce is “Reasonable Cause”: ITAT deletes Penalty u/s 273B [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the penalty imposed under Section 273B of the Income Tax Act holding that the cash payment of defaulted EMI instalment to...
![Cash Payment of Defaulted EMI Instalment to Financier after Cheque Bounce is “Reasonable Cause”: ITAT deletes Penalty u/s 273B [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cash-Payment-of-Defaulted-EMI-Instalment-to-Financier-Cheque-Bounce-is-Reasonable-Cause-ITAT-deletes-Penalty-us-273B-TAXSCAN.jpg "Cash Payment of Defaulted EMI Instalment to Financier after Cheque Bounce is “Reasonable Cause”: ITAT deletes Penalty u/s 273B [Read Order]")
Cheque Clearance of Payment to Employer Contribution after Due Date: ITAT quashes Addition referring to CBDT Circular [Read Order]
The Amritsar bench of Income Tax Appellate Tribunal (ITAT) quashed the assessment order as there was no delay in the payment of the employer contribution and disallowed the addition. The bench...
![Cheque Clearance of Payment to Employer Contribution after Due Date: ITAT quashes Addition referring to CBDT Circular [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Cheque-Clearance-of-Payment-Due-Date-ITAT-ITAT-quashes-Addition-CBDT-Circular-taxscan.jpg "Cheque Clearance of Payment to Employer Contribution after Due Date: ITAT quashes Addition referring to CBDT Circular [Read Order]")
Order of Attachment with one year Period to Deposit Amount of Cheque will not Prevent Assessee from Honoring Cheque: Bombay HC
The Bombay High Court in its recent judgement has held that the order of attachment with one year period to deposit the amount of the cheque will not prevent the assessee from honoring the cheque. ...
Payee Cheque and Copies of Invoices not ample to prove genuineness of Transactions: SC denies ITC Claim [Read Order]
The Input Tax Credit Claim was rejected by the Tribunal and the Karnataka High Court (HC) at the Supreme Court of India, which was presided over by Judge M.R. Shah. The respondent M/s Tallam...
Cheque “Drawer” does not Include Authorised Signatory of Company u/s 143A of NI Act: Bombay HC directs not to Pay Interim Compensation [Read Order]
In a case involving a dishonoured cheques, the Bombay High Court, presided over by Justice Amit Bokkar, recently ruled that an authorised signatory of a company who signs a check on its behalf is not...
![Cheque “Drawer” does not Include Authorised Signatory of Company u/s 143A of NI Act: Bombay HC directs not to Pay Interim Compensation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Cheque-Drawer-Authorised-Signatory-of-Company-NI-Act-Bombay-Highcourt-Interim-Compensation-taxscan.jpg "Cheque “Drawer” does not Include Authorised Signatory of Company u/s 143A of NI Act: Bombay HC directs not to Pay Interim Compensation [Read Order]")
Exemption u/s.10(38) for Long Term Capital Gain earned on Shares claimable only on Payment made through Cheque: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad Bench, has recently in an appeal filed before it, held that exemption u/s.10(38) for long term capital gain earned on shares is claimable only on...
![Exemption u/s.10(38) for Long Term Capital Gain earned on Shares claimable only on Payment made through Cheque: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Long-Term-Capital-Gain-Payment-Cheque-ITAT-taxscan.jpg "Exemption u/s.10(38) for Long Term Capital Gain earned on Shares claimable only on Payment made through Cheque: ITAT [Read Order]")