![Extended Limitation cannot be Invoked Twice for the Same Issue: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/CESTAT-CESTAT-Kolkata-Extended-Limitation-TAXSCAN.jpg "Extended Limitation cannot be Invoked Twice for the Same Issue: CESTAT [Read Order]")
Extended Limitation cannot be Invoked Twice for the Same Issue: CESTAT [Read Order]
The Kolkata Bench of Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ) rules that the extended period of limitation cannot be invoked...
![Possession of Machinery Hypothecated Remains to Corporate Debtor in absence of Lease Deed By Third Party: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/NCLAT-NCLAT-Delhi-Corporate-Debtor-Taxscan.jpg "Possession of Machinery Hypothecated Remains to Corporate Debtor in absence of Lease Deed By Third Party: NCLAT [Read Order]")
Reduction in Subsidiary’s Share Capital Constitutes ‘Transfer’ u/s 2(47) of Income Tax Act: Supreme Court [Read Judgement]
The Supreme Court held that a reduction in the subsidiary’s share capital constitutes a ‘transfer’ under Section 2(47) of the Income Tax Act, 1961. In this case, the Revenue has appealed against...
![Reduction in Subsidiary’s Share Capital Constitutes ‘Transfer’ u/s 2(47) of Income Tax Act: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2025/02/Supreme-Court-Share-Capital-Income-Tax-Act-taxscan.jpg "Reduction in Subsidiary’s Share Capital Constitutes ‘Transfer’ u/s 2(47) of Income Tax Act: Supreme Court [Read Judgement]")
No Penalty Exception u/s 271AAA(2) if Undisclosed Income is Declared only during Assessment Proceedings: Supreme Court [Read Judgement]
The Supreme Court of India recently affirmed that the exception to penalty encompassed under Section 271AAA(2) of the Income Tax Act, 1961 shall be applicable if the Assessee has declared the...
![No Penalty Exception u/s 271AAA(2) if Undisclosed Income is Declared only during Assessment Proceedings: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2025/02/Assessment-Proceedings.jpg "No Penalty Exception u/s 271AAA(2) if Undisclosed Income is Declared only during Assessment Proceedings: Supreme Court [Read Judgement]")
Orissa HC Restores Pending Proceedings on Demand of GST on Suppression and Wilfull Misstatement [Read Order]
In a recent case, the High Court of Orissa restored the pending proceedings demand of Goods and Service Tax (GST) on suppression and wilful misstatement. Â Mr. Harichandan, advocate appears on...
![Orissa HC Restores Pending Proceedings on Demand of GST on Suppression and Wilfull Misstatement [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Orissa-HC-Pending-Proceedings-Demand-of-GST-Suppression-Wilfull-Misstatement-taxscan.jpg "Orissa HC Restores Pending Proceedings on Demand of GST on Suppression and Wilfull Misstatement [Read Order]")
Madras HC issues Directions to Streamline Cheque Bounce cases under Negotiable Instruments Act [Read Order]
In order to expedite and guarantee the timely resolution of check bounce cases under the Negotiable Instruments Act, 1881 (NI Act), the Madurai Bench of the Madras High Court issued a number of...
Supreme Court’s Landmark Ruling; Imposing Service Tax on Lottery Distributor is Unconstitutional [Read Judgement]
In a landmark ruling, the Supreme Court dismissed the Union Government’s appeal, affirming that lottery distributors are not liable to pay service tax under the Finance Act, 1994. The Court held that...
![Supreme Court’s Landmark Ruling; Imposing Service Tax on Lottery Distributor is Unconstitutional [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2025/02/Supreme-Court-Landmark-Ruling-Imposing-Service-Tax-Lottery-Distributor-Unconstitutional-Taxscan.jpg "Supreme Court’s Landmark Ruling; Imposing Service Tax on Lottery Distributor is Unconstitutional [Read Judgement]")
![Addition of Rs. 55 Lakh as Undisclosed Income Based on Retraction: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Addition-Undisclosed-Income-Retraction-ITAT-taxscan.jpg "Addition of Rs. 55 Lakh as Undisclosed Income Based on Retraction: ITAT deletes Addition [Read Order]")