![Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Cash-Withdrawal-Income-Tax-Dept-Income-Tax-Income-Tax-Dept-disproving-deposits-Taxscan.jpg "Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]")
Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that once cash withdrawals were proven, the burden shifts to the Income Tax...
![No Evidence on Record shows Services Received against Foreign Currency Spend: CESTAT quashes Demand, Penalty and Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Finance-Ministry-notifies-Foreign-Currency-Conversion-Rates-for-Import-and-Export-of-Goods-TAXSCAN.jpg "No Evidence on Record shows Services Received against Foreign Currency Spend: CESTAT quashes Demand, Penalty and Interest [Read Order]")
Intention to Smuggle Prohibited Goods cannot be Equated with attempt to Export Prohibited Goods: CESTAT sets aside Absolute Confiscation of Foreign Currency [Read Order]
The Hyderabad bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) observed that an intention to smuggle prohibited goods cannot be equated with an attempt to export prohibited...
![Intention to Smuggle Prohibited Goods cannot be Equated with attempt to Export Prohibited Goods: CESTAT sets aside Absolute Confiscation of Foreign Currency [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Intention-to-Smuggle-Prohibited-Goods-Export-Prohibited-Goods-CESTAT-Foreign-Currency-TAXSCAN.jpg "Intention to Smuggle Prohibited Goods cannot be Equated with attempt to Export Prohibited Goods: CESTAT sets aside Absolute Confiscation of Foreign Currency [Read Order]")
Finance Ministry Revises Customs Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Read Notification]
The Central Board of Indirect Taxes & Customs ( CBIC ), under the Ministry of Finance, vide notification no. 43/2024-CUSTOMS (N.T.) dated 14th June 2024 has notified the amendment in tariff...
Actual profit in Indian Currency declared after determining the Foreign Profit by calculating all Transactions in Foreign Currency is valid method: ITAT deletes the Addition
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) ruled that actual profit in Indian currency was declared after determining the foreign profit by calculating all transactions in foreign...
Govt updates Customs Tariff Value of Palm Oil, Gold, Silver and Areca Nuts w.e.f. 16th April 2024 [Read Notification]
The Central Board of Indirect Taxes & Customs ( CBIC ), under the Ministry of Finance, vide notification no. 29/2024-CUSTOMS (N.T.) has notified the amendment in tariff value of crude...
![Govt updates Customs Tariff Value of Palm Oil, Gold, Silver and Areca Nuts w.e.f. 16th April 2024 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/04/CBIC-Ministry-of-Finance-Customs-Tariff-Value-update-Customs-updates-taxscan.jpg "Govt updates Customs Tariff Value of Palm Oil, Gold, Silver and Areca Nuts w.e.f. 16th April 2024 [Read Notification]")
Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed the revision of indexation on foreign currency for calculating capital loss which led to a set back to the ICICI. It was...
![Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-ICICI-ICICI-capital-loss-Foreign-Currency-Indexation-taxscan.jpg "Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]")
CBIC notifies Tariff Value of Palm Oil, Silver and Gold w.e.f. 16th March 2024: Check the Revisions [Read Notification]
The Central Board of Indirect Taxes & Customs ( CBIC ), under the Ministry of Finance, vide notification no. 22/2204-CUSTOMS ( N.T. ) has notified the amendment in tariff value of crude palm...
