![No Obligation on Bank to Deduct TDS from Interests on FD Paid to Jammu Development Authority: J & K and Ladakh HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Obligation-on-Bank-to-Deduct-TDS-from-Interests-on-FD-Bank-Deduct-TDS-from-Interests-on-FD-Paid-to-Jammu-Development-Authority-J-K-and-Ladakh-High-Court-TDS-Taxscan.jpg "No Obligation on Bank to Deduct TDS from Interests on FD Paid to Jammu Development Authority: J & K and Ladakh HC [Read Order]")
No Obligation on Bank to Deduct TDS from Interests on FD Paid to Jammu Development Authority: J & K and Ladakh HC [Read Order]
The Jammu and Kashmir and Ladakh High Court observed that there is no obligation on the bank to deduct Tax Deduction at Source (TDS) from interests...
![Subsidy received under Industrial Promotion Scheme of Madhya Pradesh is Revenue in Nature: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Subsidy-Industrial-Promotion-Scheme-Madhya-Pradesh-Subsidy-received-under-Industrial-Promotion-Scheme-of-Madhya-Pradesh-taxscan.jpg "Subsidy received under Industrial Promotion Scheme of Madhya Pradesh is Revenue in Nature: ITAT [Read Order]")
![Revenue Enhances Value of Imported Aluminium Powder and Demanded Customs Duty without any Speaking Order: CESTAT directs Re-Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Revenue-Enhances-Value-of-Imported-Aluminium-Powder-Demanded-Customs-Duty-without-any-Speaking-Order-CESTAT-Directs-Re-Consideration-.jpg "Revenue Enhances Value of Imported Aluminium Powder and Demanded Customs Duty without any Speaking Order: CESTAT directs Re-Consideration [Read Order]")
![Relief to Adani Power: CESTAT rules Commissioner (Appeals) has Power to Remand Matter to Adjudicating Authority u/s 35 A of Central Excise Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Relief-to-Adani-Power-Adani-Power-CESTAT-rules-Commissioner-Appeals-has-Power-to-Remand-Matter-to-Adjudicating-Authority-CESTAT-Taxscan.jpg "Relief to Adani Power: CESTAT rules Commissioner (Appeals) has Power to Remand Matter to Adjudicating Authority u/s 35 A of Central Excise Act [Read Order]")
![No Addition can be Made on Different Rates Booked By Real Estate Broker for Selling Property between Different Buyers: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/No-Addition-can-be-Made-on-Different-Rates-Booked-By-Real-Estate-Broker-Addition-Real-Estate-Broker-Selling-Property-between-Different-Buyers-ITAT-Taxscan.jpg "No Addition can be Made on Different Rates Booked By Real Estate Broker for Selling Property between Different Buyers: ITAT [Read Order]")
Relief to Asus India: CESTAT rules Computer System Desktops are Classifiable as ‘Automatic Data Processing Machines’ [Read Order]
The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), ruled that System Desktops are classifiable as ‘automatic data processing machines’, thereby granting relief to...
![Relief to Asus India: CESTAT rules Computer System Desktops are Classifiable as ‘Automatic Data Processing Machines’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Relief-to-Asus-India-Asus-India-CESTAT-rules-Computer-System-Desktops-CESTAT-Automatic-Data-Processing-Machines-Taxscan.jpg "Relief to Asus India: CESTAT rules Computer System Desktops are Classifiable as ‘Automatic Data Processing Machines’ [Read Order]")
Revenue Fails to Prove Undervaluation of Imported Goods of ‘Zinc Scrap’ so as to Reject Transaction value in Invoice: CESTAT quashes Demand [Read Order]
The New Delhi bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) quashed the demand on the ground that the revenue failed to prove the undervaluation of imported goods of zinc...
![Revenue Fails to Prove Undervaluation of Imported Goods of ‘Zinc Scrap’ so as to Reject Transaction value in Invoice: CESTAT quashes Demand [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Revenue-Fails-Revenue-Imported-Goods-Zinc-Scrap-Transaction-value-Invoice-CESTAT-quashes-Demand-Demand-CESTAT-taxscan.jpg "Revenue Fails to Prove Undervaluation of Imported Goods of ‘Zinc Scrap’ so as to Reject Transaction value in Invoice: CESTAT quashes Demand [Read Order]")
Interest on Compulsorily Convertible Debentures Allowable as Revenue Deduction u/s 36(1)(iii) of the Income Tax Act: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Compulsorily Convertible Debentures (CCDs) are in the nature of borrowed fund and continue to be in debt till conversion thereof...
![Interest on Compulsorily Convertible Debentures Allowable as Revenue Deduction u/s 36(1)(iii) of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Interest-Earned-Surplus-Grants-Should-Not-Be-Taxed-as-Income-ITAT-Interest-Surplus-taxscan.jpg "Interest on Compulsorily Convertible Debentures Allowable as Revenue Deduction u/s 36(1)(iii) of the Income Tax Act: ITAT [Read Order]")
Revenue Fails to Prove Unjust Enrichment on Sanctioned Erroneous Refund of Excise Duty: Jammu Kashmir &Ladak HC Â sets aside Extended Period of Limitation [Read Order]
In a significant case, the High Court of Jammu & Kashmir and Ladakh set aside the extended period of limitation since the revenue fails to prove unjust enrichment on sanctioned erroneous refund...
![Revenue Fails to Prove Unjust Enrichment on Sanctioned Erroneous Refund of Excise Duty: Jammu Kashmir &Ladak HC Â sets aside Extended Period of Limitation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Revenue-Revenue-Fails-Revenue-Fails-to-Prove-Unjust-Enrichment-on-Sanctioned-Erroneous-Refund-of-Excise-Duty-Enrichment-Enrichment-on-Sanctioned-Erroneous-Refund-taxscan.jpg "Revenue Fails to Prove Unjust Enrichment on Sanctioned Erroneous Refund of Excise Duty: Jammu Kashmir &Ladak HC Â sets aside Extended Period of Limitation [Read Order]")
Refunded Cess Amount cannot be recovered by revenue Dept as refund was based on Judgement which was overruled: Supreme Court [Read Judgement]
The Two-member Bench of supreme Court recently has held that the refunded cess amount could not be recovered by revenue department as refund was based on judgement which had been overruled. ...
Relief to Manipal Finance Corporation Ltd: Karnataka HC dismisses Appeal of Revenue on Grounds of Monetary Limits [Read Order]
The Karnataka High Court granted relief to Manipal Finance Corporation Limited by dismissing the appeal of the revenue. The high court has dismissed the same on the grounds of monetary limits. The...
![Relief to Manipal Finance Corporation Ltd: Karnataka HC dismisses Appeal of Revenue on Grounds of Monetary Limits [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Relief-to-Manipal-Finance-Corporation-Ltd-Karnataka-HC-dismisses-Appeal-of-Revenue-on-Grounds-of-Monetary-Limits-TAXSCAN.jpg "Relief to Manipal Finance Corporation Ltd: Karnataka HC dismisses Appeal of Revenue on Grounds of Monetary Limits [Read Order]")
No Appeal would Lie against Order in Miscellaneous Application u/s 260A of Income Tax Act: Delhi HC Disposes Appeal against L.G Electronics [Read Order]
The Delhi High Court held that no appeal would lie against the order in miscellaneous applications under section 260A of the Income Tax Act,1961. L.G. Electronics Inc. Korea, the respondent...
![No Appeal would Lie against Order in Miscellaneous Application u/s 260A of Income Tax Act: Delhi HC Disposes Appeal against L.G Electronics [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/No-Appeal-would-Lie-against-Order-in-Miscellaneous-Application-Appeal-Order-Miscellaneous-Application-Delhi-High-Court-Disposes-Appeal-against-L.G-Electronics-Delhi-High-Court-Taxscan.jpg "No Appeal would Lie against Order in Miscellaneous Application u/s 260A of Income Tax Act: Delhi HC Disposes Appeal against L.G Electronics [Read Order]")