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Income Received on Redemption of FCCBs Issued by Resident Company Chargeable to Tax in Hands of Ultimate Beneficiaries, not Trustees of Bonds: ITAT quashes Reassessment Proceedings Against Non-Resident Trustee Company
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that income received on redemption of Foreign Convertible Currency Bond (FCCBs) issued by...
![Premium Expenses on FCCB is Revenue Expenditure, Deductible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Premium-Expenses-Premium-FCCB-Revenue-Expenditure-Deductible-ITAT-Income-Tax-Tax-taxscan.jpg "Premium Expenses on FCCB is Revenue Expenditure, Deductible: ITAT [Read Order]")
![Relief to Mahindra, Provision for Warranty Calculated on Scientific Basis is allowable as a deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Mahindra-Warranty-Calculated-on-Scientific-Basis-deduction-ITAT.jpg "Relief to Mahindra, Provision for Warranty Calculated on Scientific Basis is allowable as a deduction: ITAT [Read Order]")
![Proper consideration of Raising Funds though FCCB into Convertible Bond of Ordinary Equity Shares: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Funds-FCCB-Convertible-Bond-Equity-Shares-ITAT-Appeal-taxscan.jpeg "Proper consideration of Raising Funds though FCCB into Convertible Bond of Ordinary Equity Shares: ITAT dismisses Appeal [Read Order]")
RBI notifies Discontinuation of Returns/Reports under Foreign Exchange Management Act, 1999 [Read Notification]
The Reserve Bank of India (RBI) has notified the discontinuation of Returns/Reports under the Foreign Exchange Management Act, 1999. The RBI has invited the attention of Authorised Persons to the...
![RBI notifies Discontinuation of Returns/Reports under Foreign Exchange Management Act, 1999 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2020/11/RBI-Discontinuation-of-Returns-Foreign-Exchange-Management-Act-Taxscan.jpg "RBI notifies Discontinuation of Returns/Reports under Foreign Exchange Management Act, 1999 [Read Notification]")