![Relief for Hyundai: Madras HC Rules Income Tax Assessment Cannot Be Reopened Just for AOs Changed Opinion on Forex Gains [Read Order]](https://images.taxscan.in/h-upload/2025/07/03/500x300_2058629-relief-for-hyundai-hyundai-madras-hc-madras-hc-rules-taxscan.webp "Relief for Hyundai: Madras HC Rules Income Tax Assessment Cannot Be Reopened Just for AOs Changed Opinion on Forex Gains [Read Order]")
Relief for Hyundai: Madras HC Rules Income Tax Assessment Cannot Be Reopened Just for AO's Changed Opinion on Forex Gains [Read Order]
In a recent ruling, the Madras High Court quashed the reopening of Hyundai Motor India Ltd’s income tax assessment, stating that the action was ...
![RBI Increases Eligibility Requirement for Opening Diamond Dollar Accounts to Three Years of Trade Track Record [Read Notification]](https://images.taxscan.in/h-upload/2025/06/07/250x150_2041627-eligibility-requirement.webp "RBI Increases Eligibility Requirement for Opening Diamond Dollar Accounts to Three Years of Trade Track Record [Read Notification]")
Foreign Exchange Fluctuations have direct Nexus over Export Sales, would be Eligible for Deduction u/s 10A of Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that foreign exchange fluctuations have direct nexus over export sales and would be eligible for deduction under Section 10A of the...
![Foreign Exchange Fluctuations have direct Nexus over Export Sales, would be Eligible for Deduction u/s 10A of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-Tax-Act-Income-Tax-Appellate-Tribunal-ITAT-delhi-Foreign-Exchange-Income-Tax-taxscan.jpg "Foreign Exchange Fluctuations have direct Nexus over Export Sales, would be Eligible for Deduction u/s 10A of Income Tax Act: ITAT [Read Order]")
ITAT Deletes disallowance of payment made on account of Forward Contract Loss incurred towards hedging Foreign Exchange Fluctuation Loss on FCNRB Loan Account [Read Order]
The Kolkata bench of Income Tax Appellate Tribunal (ITAT) deleted the disallowance of payment made on account of the Forward Contract Loss incurred towards hedging Foreign...
![ITAT Deletes disallowance of payment made on account of Forward Contract Loss incurred towards hedging Foreign Exchange Fluctuation Loss on FCNRB Loan Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/WhatsApp-Image-2024-05-09-at-3.03.51-PM.jpeg "ITAT Deletes disallowance of payment made on account of Forward Contract Loss incurred towards hedging Foreign Exchange Fluctuation Loss on FCNRB Loan Account [Read Order]")
Ministry of Finance notifies Foreign Exchange Rates for Import and Export: Check new Rates [Read Notification]
The Central Board of Indirect Taxes and Customs ( CBIC ), vide notification no. 34/2024 - Customs (N.T.) issued on 2nd May 2024 has updated the foreign currency exchange rate for the import and...
Non-fulfilment of Condition of receiving Proceeds in Convertible Foreign Exchange: CESTAT upholds Service Tax Demand for Maintenance and Repair Services on Nepal Clients [Read Order]
The Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) upheld the service tax demand for Maintenance and Repair Services on Nepal clients as there was non-fulfilment...
![Non-fulfilment of Condition of receiving Proceeds in Convertible Foreign Exchange: CESTAT upholds Service Tax Demand for Maintenance and Repair Services on Nepal Clients [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/CESTAT-Kolkata-Service-Tax-Demand-Maintenance-and-repair-services-Convertible-foreign-exchange-Non-fulfilment-of-conditions-TAXSCAN.jpg "Non-fulfilment of Condition of receiving Proceeds in Convertible Foreign Exchange: CESTAT upholds Service Tax Demand for Maintenance and Repair Services on Nepal Clients [Read Order]")
Relevant date for Computation of Period of limitation for filing Refund Application u/s 54 of CGST Act is date of Receipt of Payment in Convertible Foreign Exchange: Madras HC [Read Order]
In a recent decision the Madras High Court observed that the relevant date for computation of period of limitation for filing refund application under Section 54 of the Central Goods and Service Tax...
Service Tax not leviable under BAS on Service Charges received from Clients for Visa Consultation: CESTAT [Read Order]
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi Bench ruled that service tax is not leviable under business auxiliary services (BAS) on service charges received from...
![Service Tax not leviable under BAS on Service Charges received from Clients for Visa Consultation: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/01/Business-auxiliary-services-Service-charges-exemption-CESTAT-New-Delhi-Visa-Consultation-taxscan.jpg "Service Tax not leviable under BAS on Service Charges received from Clients for Visa Consultation: CESTAT [Read Order]")