![Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/corporate-structure-scheme-sundry-receivables-bad-debts-ITAT-taxscan.jpg "Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]")
Bad Debts under Corporate Structure Scheme reduce Sundry receivables, confirms the write-off of Bad Debts: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that bad debt formed under the corporate structure scheme reduces sundry receivables...
![Gold Bar with Foreign Marking liable for Absolute Confiscation If Source not Explained: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Gold-Bar-Foreign-Marking-liable-Confiscation-CESTAT-taxscan.jpeg "Gold Bar with Foreign Marking liable for Absolute Confiscation If Source not Explained: CESTAT [Read Order]")
![No Sufficient Reason to Prove Income Escaped Assessment: ITAT dismisses Revenue’s Appeal for Reopening Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Assessment-ITAT-Revenue-Appeal-Reopening-Assessment-taxscan.jpeg "No Sufficient Reason to Prove Income Escaped Assessment: ITAT dismisses Revenue’s Appeal for Reopening Assessment [Read Order]")
![SAD Refund allowable to Importer even if Rate of VAT/Sales Tax is Lower than Rate of SAD or Nil: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/SAD-Refund-VAT-Sales-Tax-SAD-CESTAT-taxscan.jpg "SAD Refund allowable to Importer even if Rate of VAT/Sales Tax is Lower than Rate of SAD or Nil: CESTAT [Read Order]")
Benefit under Vivad Se Vishwas Scheme is Optional: Calcutta HC condones Delay in Appeals filed by Revenue in Rs. 38,000 Cr Penny Stock Scam [Read Order]
A division bench of the Calcutta High Court, while condoning the delay in a bunch of appeals filed by the Revenue, has held that the benefit provided under the Direct Tax Vivad Se Vishwas Scheme is...
![Benefit under Vivad Se Vishwas Scheme is Optional: Calcutta HC condones Delay in Appeals filed by Revenue in Rs. 38,000 Cr Penny Stock Scam [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Vivad-Se-Vishwas-Scheme-Calcutta-HC-Appeals-Revenue-Penny-Stock-Scam-taxscan.jpg "Benefit under Vivad Se Vishwas Scheme is Optional: Calcutta HC condones Delay in Appeals filed by Revenue in Rs. 38,000 Cr Penny Stock Scam [Read Order]")
Non-Mentioning of Full Address of Buyer on Invoice: Madras HC orders to release Goods and Vehicles on Payment of 25% of Penalty Imposed [Read Order]
The Madras High Court while ordering to release the goods and vehicles detained on payment of 25 % of the penalty imposed, held that as the alleged violation, albeit being small, is recurring,the...
![Non-Mentioning of Full Address of Buyer on Invoice: Madras HC orders to release Goods and Vehicles on Payment of 25% of Penalty Imposed [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Buyer-Invoice-Madras-Hc-Goods-Vehicles-Payment-Penalty-taxscan.jpeg "Non-Mentioning of Full Address of Buyer on Invoice: Madras HC orders to release Goods and Vehicles on Payment of 25% of Penalty Imposed [Read Order]")
Royalty Expenditure for Use of Technical Know-How can be treated as Revenue Expenditure: ITAT [Read Order]
The ITAT, Delhi bench has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure for the purpose of the Income Tax Act, 1961. Before the Tribunal, the...
![Royalty Expenditure for Use of Technical Know-How can be treated as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Royalty-Expenditure-Technical-Revenue-Expenditure-ITAT-taxscan.jpeg "Royalty Expenditure for Use of Technical Know-How can be treated as Revenue Expenditure: ITAT [Read Order]")
Eligibility of Exemption Notification is a Question Relating to Rate of Duty: Calcutta HC dismisses Appeal on Maintainability Ground [Read Order]
The Calcutta High Court has dismissed an appeal on the ground of maintainability by holding that the question relating to the eligibility of exemption notification is related to the rate of duty. ...
![Eligibility of Exemption Notification is a Question Relating to Rate of Duty: Calcutta HC dismisses Appeal on Maintainability Ground [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Exemption-Rate-of-Duty-Calcutta-HC-Ground-taxscan.jpeg "Eligibility of Exemption Notification is a Question Relating to Rate of Duty: Calcutta HC dismisses Appeal on Maintainability Ground [Read Order]")
Revenue cannot bypass Pre-Consultation merely because Case is originated from Information provided by Intelligence: Gujarat HC [Read Order]
The Gujarat High Court has held that the revenue cannot ignore the mandatory requirement of pre-consultation notice the origin of the show cause notice is the intelligence gathered from the...
![Revenue cannot bypass Pre-Consultation merely because Case is originated from Information provided by Intelligence: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Pre-Consultation-Gujarat-High-Court-Larsen-Toubro-Justice-J.B.Pardiwala-Justice-Nisha-M.-Thakore-Taxscan.jpeg "Revenue cannot bypass Pre-Consultation merely because Case is originated from Information provided by Intelligence: Gujarat HC [Read Order]")
![Issuance of S. 143(2) Notice Mandatory for S. 153A Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Notice-Proceedings-ITAT-taxscan.jpeg "Issuance of S. 143(2) Notice Mandatory for S. 153A Proceedings: ITAT [Read Order]")
Consumable Tools are 'Revenue' in Nature: ITAT allows Deduction to Walvoil Fluid Power India [Read Order]
The ITAT Bangalore, while granting relief to M/s Walvoil Fluid Power India Pvt Ltd, held that the consumable tools are revenue in nature and therefore, deduction is allowable as expenditure in the...
![Consumable Tools are Revenue in Nature: ITAT allows Deduction to Walvoil Fluid Power India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Consumable-Tools-Revenue-ITAT-Deduction-Walvoil-Fluid-Power-India-taxscan.jpg "Consumable Tools are Revenue in Nature: ITAT allows Deduction to Walvoil Fluid Power India [Read Order]")