![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...
![Challenge against Income Tax Order directing Re ajudication by AO: Orissa HC dismissed Petition in Absence of Substantial Question Of Law [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Orissa-High-Court-Income-Tax-Order-Reajudication-Taxscan.jpg "Challenge against Income Tax Order directing Re ajudication by AO: Orissa HC dismissed Petition in Absence of Substantial Question Of Law [Read Order]")
![No Deduction for Delay in Deposit of Employees’ Contributions to ESIC and PF: ITAT Upholds Disallowance u/s 36(1)(va) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ESIC-and-PF.jpg "No Deduction for Delay in Deposit of Employees’ Contributions to ESIC and PF: ITAT Upholds Disallowance u/s 36(1)(va) [Read Order]")
No Jurisdiction to AO for considering Claim by Assessee in Revised Return filed after Time Prescribed u/s 139(5) of Income Tax Act: Supreme Court [Read Order]
In a significant case, the Supreme Court while upholding the order of the Madras High Court held that the Assessing Officer ( AO ) had no jurisdiction to consider the claim by Assessee in revised...
![No Jurisdiction to AO for considering Claim by Assessee in Revised Return filed after Time Prescribed u/s 139(5) of Income Tax Act: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Income-Tax-Act-Income-Tax-Return-Assessing-Officer-TAXSCAN.jpg "No Jurisdiction to AO for considering Claim by Assessee in Revised Return filed after Time Prescribed u/s 139(5) of Income Tax Act: Supreme Court [Read Order]")
Simply Citing ‘Delay in Submission of Appeal’ Insufficient for Rejecting GST Appeals: Allahabad HC [Read Order]
The Allahabad High Court ruled that simply mentioning ‘Delay in Submission of Appeal’ is not sufficient for rejecting the GST ( Goods and Services Tax ) appeals. While quashing the order, it stated...
![Simply Citing ‘Delay in Submission of Appeal’ Insufficient for Rejecting GST Appeals: Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/GST-GST-Appeal-Allahabad-High-Court-Delay-in-Submission-of-Appeal-GST-appeals-rejection-Delay-in-submission-taxscan.jpeg "Simply Citing ‘Delay in Submission of Appeal’ Insufficient for Rejecting GST Appeals: Allahabad HC [Read Order]")
Claims Before Approval of Resolution Plan Extinguished on Approval of Plan u/s 31 of IBC: Orissa HC [Read Order]
The Orissa High Court held that claims before approval of resolution plan were extinguished on approval of plan under section 31 of the Insolvency and Bankruptcy Code ( IBC ), 2016. The court held...
SC grants Bail to Hyderabad Businessman in Money Laundering Case tied to Delhi Excise Policy Scam Today [Read Judgement]
The Supreme Court of India has granted bail to Hyderabad businessman Abhishek Boinpally in connection with the Delhi excise policy money laundering case. The bench comprising Justices MM Sundresh and...
Delhi HC upholds Tribunal's decision on Profit Attribution to PE in India Due to Lack of New Evidence [Read Order]
In the recent ruling, the Delhi High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) regarding the attribution of profits to a Permanent Establishment (PE) in India. GE Nuovo...
![ITAT quashes Income Tax Additions based on Third Party Statements [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Income-Tax-Addition-Third-Party-Statements-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT quashes Income Tax Additions based on Third Party Statements [Read Order]")