![Bonafide Discharge of Duties by Joint Commissioner in raising GST Penalty and Interest: Rajasthan HC withdraws SCN issued to JC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Discharge-of-Duties-Joint-Commissioner-GST-Penalty-Interest-Rajasthan-Highcourt-SCN-JC-taxscan.jpg "Bonafide Discharge of Duties by Joint Commissioner in raising GST Penalty and Interest: Rajasthan HC withdraws SCN issued to JC [Read Order]")
Bonafide Discharge of Duties by Joint Commissioner in raising GST Penalty and Interest: Rajasthan HC withdraws SCN issued to JC [Read Order]
The Rajasthan High Court has recently withdrawn the Show Cause Notice (SCN) issued against the Joint Commissioner after issuing a demand for the...
![CESTAT upholds eligibility of Capita India for Interest on delayed Sanction of Refund Claim under Rule 5 of CCR [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/CESTAT-Capita-India-Interest-Refund-Claim-CCR-Cenvat-Credit-Rules-Excise-Customs-Service-Tax-taxscan.jpg "CESTAT upholds eligibility of Capita India for Interest on delayed Sanction of Refund Claim under Rule 5 of CCR [Read Order]")
![Interest cant be allowed on Seized Currency notes on Release: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Interest-Seized-Currency-notes-on-Release-Seized-Currency-notes-CESTAT-taxscan.jpg "Interest cant be allowed on Seized Currency notes on Release: CESTAT [Read Order]")
![Taxability of Interest from Investment Earned by Co-Operative Society as Other Income: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Taxability-Interest-Interest-from-Investment-Other-Income-ITAT-Re-Adjudication-Taxscan.jpg "Taxability of Interest from Investment Earned by Co-Operative Society as Other Income: ITAT directs Re-Adjudication [Read Order]")
![Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Co-Operative-Society-Claim-Deduction-of-Interest-Deduction-Deduction-of-Interest-Deposits-Co-Operative-Banks-ITAT-Income-Tax-Taxscan.jpg "Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]")
![Interest received from FDR Taxable as ‘Other Income’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/FDR-Interest-Interest-received-from-FDR-Income-ITAT-taxscan.jpg "Interest received from FDR Taxable as ‘Other Income’: ITAT [Read Order]")
Disallowance of Expenditure of Interest in year of actual Payment in merchandise system of Accounting: ITAT deletes Addition made by AO
Income Tax Appellate Tribunal (ITAT), New Delhi deleted addition made by Assessing Officer (AO) on the ground of disallowance of expenditure of interest in year of actual payment in merchandise...
Withholding of Refund of Rs. 54 Crores by Income Tax Dept: Delhi HC directs to Process Refund to KRBL with Interest [Read Order]
In a major relief to M/s KRBL Limited, a division bench of the Delhi High Court has ordered the income tax department to process the refund of Rs. 54 Crores along with interest. The orders were...
![Withholding of Refund of Rs. 54 Crores by Income Tax Dept: Delhi HC directs to Process Refund to KRBL with Interest [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Income-Tax-Dept-Delhi-HC-Refund-KRBL-Interest-taxscan.jpg "Withholding of Refund of Rs. 54 Crores by Income Tax Dept: Delhi HC directs to Process Refund to KRBL with Interest [Read Order]")
Payment of Pre-deposit through Form GST DRC-03 not Valid for Service Tax / Excise Matters: CBIC Issues Guidelines following Bombay HC’s Direction
Pursuant to the direction issued by the Bombay High Court in Sodexo India Services Pvt. Ltd vs The Union of India and Ors [Writ Petition No.6220/2022] , the Central Board of Indirect Tax and Customs...
Interest on Fixed Deposits being Attributable and Incidental to the Trading Business, Exemption Claimable u/s. 10AA: ITAT [Read Order]
The Income Tax Appellate Tribunal(ITAT), Mumbai Bench, has recently held that interest on fixed deposits being attributable and incidental to the trading business, exemption under section 10AA of the...
![Interest on Fixed Deposits being Attributable and Incidental to the Trading Business, Exemption Claimable u/s. 10AA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Interest-Fixed-Deposits-Business-ITAT-taxscan.jpg "Interest on Fixed Deposits being Attributable and Incidental to the Trading Business, Exemption Claimable u/s. 10AA: ITAT [Read Order]")
Factoring Charges are not in the Nature of Interest, TDS u/s 40(a)(ia) not Applicable: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently in an appeal filed before it, held that factoring charges are not in the nature of interest and hence that TDS u/s 40 (a) (ia)...
![Factoring Charges are not in the Nature of Interest, TDS u/s 40(a)(ia) not Applicable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Factoring-Charges-Interest-TDS-ITAT-taxscan.jpg "Factoring Charges are not in the Nature of Interest, TDS u/s 40(a)(ia) not Applicable: ITAT [Read Order]")
Claim of Interest paid to the Firm on overdrawn Capital is allowable as a Business Expense: ITAT [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that the claim of interest paid to the firm on overdrawn capital is an allowable business expense. Bhawneshwar Kumar, the...
![Claim of Interest paid to the Firm on overdrawn Capital is allowable as a Business Expense: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Claim-interest-paid-capital-business-expense-ITAT-taxscan.jpg "Claim of Interest paid to the Firm on overdrawn Capital is allowable as a Business Expense: ITAT [Read Order]")