![Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Supreme-Court-Income-Tax-Deduction-stock-in-trade-Broken-Period-Interest-TAXSCAN.jpg "Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]")
Broken Period Interest on Securities Considered as Stock-in-Trade is Revenue in Nature: Supreme Court allows Income Tax Deduction [Read Judgement]
The Supreme Court has recently held that broken period interest incurred on securities treated as stock-in-trade is in the nature of revenue expense...
![Non Supply of Material referred to as ‘Reasons to believe’: Rajasthan HC quashes Reopening of Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Supply-of-Material-Rajasthan-Highcourt-Reopening-of-Assessment-taxscan.jpg "Non Supply of Material referred to as ‘Reasons to believe’: Rajasthan HC quashes Reopening of Assessment [Read Order]")
Petition Challenging Treatment of Manpower Supply as 'Inter-State' or 'Intra-State': Rajasthan HC Seeks Response from Centre and State [Read Order]
The Rajasthan High Court has seeked response from centre and state, regarding the treatment of manpower supply while it was challenged in a petition. The petitioner, Skylark Infra Engineering...
![Petition Challenging Treatment of Manpower Supply as Inter-State or Intra-State: Rajasthan HC Seeks Response from Centre and State [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Petition-Challenging-Treatment-Manpower-Supply-Inter-State-Intra-State-Rajasthan-HC-taxscan.jpg "Petition Challenging Treatment of Manpower Supply as Inter-State or Intra-State: Rajasthan HC Seeks Response from Centre and State [Read Order]")
State obliged to issue `C' Forms for High Speed Diesel procured for mining purposes through interstate trade: Rajasthan HC [Read Order]
The Division Bench of the Rajasthan High Court comprising Cheif Justice Pankaj Mithal and Justice Dinesh Mehta has mandated recently that the State is statutorily obliged to issue C forms or...
![State obliged to issue `C Forms for High Speed Diesel procured for mining purposes through interstate trade: Rajasthan HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Rajasthan-HC-C-forms-Diesel-mining-purposes-Diesel-procured-for-mining-purposes-interstate-trade-Rajasthan-HC-taxscan.jpg "State obliged to issue `C Forms for High Speed Diesel procured for mining purposes through interstate trade: Rajasthan HC [Read Order]")
Relief to MRF: Tribunal not justified in disallowing 1% Discount from Taxable Turnover, says Jammu & Kashmir HC [Read Judgment]
The Jammu and Kashmir High Court while providing relief to the MRF Limited said that the Tribunal was not justified in disallowing 1% discount from the taxable turnover. The assessee, MRF Limited...
![Relief to MRF: Tribunal not justified in disallowing 1% Discount from Taxable Turnover, says Jammu & Kashmir HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/04/MRF-taxable-turnover-Jammu-and-Kashmir-HC-Taxscan.jpg "Relief to MRF: Tribunal not justified in disallowing 1% Discount from Taxable Turnover, says Jammu & Kashmir HC [Read Judgment]")
Authorities to Wait for Confiscation Order If Search and Seizure Challenged: Allahabad High Court [Read Judgment]
The Allahabad High Court in a writ petition Rimjhim Ispat Ltd. v. State of U.P. partly holding in favour of the appellant held that even though there was no stay order restraining the respondents from...
![Authorities to Wait for Confiscation Order If Search and Seizure Challenged: Allahabad High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/09/Search-Under-GST-Taxscan.jpg "Authorities to Wait for Confiscation Order If Search and Seizure Challenged: Allahabad High Court [Read Judgment]")
Co-Operative Banks engaged in Banking Business are Eligible for Income Tax Deduction: Allahabad HC [Read Order]
While dismissing a departmental appeal, a division bench of the Allahabad High Court recently observed that deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961 can be allowed to...
![Co-Operative Banks engaged in Banking Business are Eligible for Income Tax Deduction: Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/Income-Tax-Deduction-Taxscan.jpg "Co-Operative Banks engaged in Banking Business are Eligible for Income Tax Deduction: Allahabad HC [Read Order]")
Non-filing of GST Returns by a Firm would not Attract Penalty when It has Wrongly Registered as Sole Proprietor: Allahabad HC [Read Order]
A division bench of the Allahabad High Court, on Thursday, directed the Goods and Services Tax (GST) authorities to not to initiate penal actions against a Firm on ground of non-filing of GST returns...
![Non-filing of GST Returns by a Firm would not Attract Penalty when It has Wrongly Registered as Sole Proprietor: Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/GST-Returns-Taxscan.jpg "Non-filing of GST Returns by a Firm would not Attract Penalty when It has Wrongly Registered as Sole Proprietor: Allahabad HC [Read Order]")
![Allahabad HC disallows Claim of Expenditure incurred on Guest House after Cut of date [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Guest-House-Expenditure-Taxscan.jpg "Allahabad HC disallows Claim of Expenditure incurred on Guest House after Cut of date [Read Order]")