![Concealment of Foreign currency: CESTAT sets aside Penalty u/s 114 of Customs Act in Absence of Evidence other than Statement of Co-accused [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Concealment-of-Foreign-currency-site-image-1.jpg "Concealment of Foreign currency: CESTAT sets aside Penalty u/s 114 of Customs Act in Absence of Evidence other than Statement of Co-accused [Read Order]")
Concealment of Foreign currency: CESTAT sets aside Penalty u/s 114 of Customs Act in Absence of Evidence other than Statement of Co-accused [Read Order]
In the case of concealment of foreign currency, the Bangalore Bench of the Customs, Excise and Service Tax Appellate Tribunal(CESTAT) set aside...
![CBDT notifies Amendment to Rules 10TA and 10TD of Income Tax Rules, impact on Safe Harbour Rules [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Rules-CBDT-amendment-Safe-Harbour-Rules-TAXSCAN.jpg "CBDT notifies Amendment to Rules 10TA and 10TD of Income Tax Rules, impact on Safe Harbour Rules [Read Notification]")
![Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Foreign-Currency-Expenses-Telecom-charges-Technical-Services-India-included-in-Export-Turnover-Income-Tax-Act-ITAT-Tech-Mahindra-TAXSCAN.jpg "Foreign Currency Expenses on Telecom charges and Technical Services outside India included in Export Turnover for Section 10A of Income Tax Act: ITAT grants Relief to Tech Mahindra [Read Order]")
![Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Tech-Mahindra-ITAT-Directs-LIBOR-plus-80-Points-for-Interest-Rate-ALP-for-Loans-Foreign-Currency-TAXSCAN.jpg "Relief to Tech Mahindra: ITAT directs LIBOR plus 80 Basis points for Interest Rate in determining ALP for Loans borrowed in Foreign Currency [Rad Order]")
DGFT issues notice regarding to extend Pre and Post shipment Export Credit and Packing Credit Loan in Foreign Currency for E-Commerce Exports [Read Notice]
The Directorate General of Foreign Trade (DGFT), vide Trade Notice no. 26/2023 issued extension of Pre Shipment and Post Shipment Export Credit and Packing Credit Loan in Foreign Currency (PCFC) for...
CBDT amends Rule of Rate of Exchange for Purpose of TDS on Income Payable in Foreign Currency [Read Notification]
The Central Board of Direct Taxes (CBDT) vide notification no. G.S.R. 607(E) notified the amendment in the Rule 26 of the Income Tax Rules, 1962 on 17th August 2023. According to the notification,...
![CBDT amends Rule of Rate of Exchange for Purpose of TDS on Income Payable in Foreign Currency [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/08/CBDT-Rule-of-Rate-of-Exchange-Rate-of-Exchange-TDS-Income-Payable-in-Foreign-Currency-Income-Payable-Foreign-Currency-taxscan.jpg "CBDT amends Rule of Rate of Exchange for Purpose of TDS on Income Payable in Foreign Currency [Read Notification]")
Finance Ministry notifies Foreign Currency Conversion Rates for Import and Export of Goods w.e.f. July 7th, 2023
With effect from today (07-07-2023), the Central Board of Indirect Taxes and Customs (CBIC) has announced the revised rates of exchange for conversion of foreign currencies for import and export of...
Finance Ministry notifies Foreign Currency Conversion Rates for Import and Export of Goods w.e.f. June 2nd, 2023 [Read Notification]
With effect from today (01-06-2023), the Central Board of Indirect Taxes and Customs (CBIC) has announced the revised rates of exchange for conversion of foreign currencies for import and export of...
![Finance Ministry notifies Foreign Currency Conversion Rates for Import and Export of Goods w.e.f. June 2nd, 2023 [Read Notification]](https://www.taxscan.in/wp-content/uploads/2023/06/Finance-Ministry-notifies-Foreign-Currency-Conversion-Rates-for-Import-and-Export-of-Goods-TAXSCAN.jpg "Finance Ministry notifies Foreign Currency Conversion Rates for Import and Export of Goods w.e.f. June 2nd, 2023 [Read Notification]")
No Document to Prove Discharge of Customs Duty Liability for Foreign Currency: CESTAT decides Foreign Currency as Smuggled even though not Recovered from Customs Area
The New Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), that the seized gold is of smuggled nature even though they were not recovered from the customs area as no...
