![Expenditure on Software Application Development treated as Revenue Expenditure: SC dismisses SLP filed by Income Tax Department [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/06/Income-tax-department-Special-leave-petition-SLP-Revenue-expenditure-Software-application-TAXSCAN.jpg "Expenditure on Software Application Development treated as Revenue Expenditure: SC dismisses SLP filed by Income Tax Department [Read Judgement]")
Expenditure on Software Application Development treated as Revenue Expenditure: SC dismisses SLP filed by Income Tax Department [Read Judgement]
The Supreme Court dismissed the Special Leave Petition ( SLP ) filed by the Income Tax Department regarding the assessment of expenditure on software...
![Waste Product such as Bagasse is not an Excisable Goods: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/CESTAT-customs-excise-tax-news-tax-2024-CESTAT-news-CESTAT-Chennai-TAXSCAN.jpg "Waste Product such as Bagasse is not an Excisable Goods: CESTAT [Read Order]")
![Mere Filing of Appeal against Tribunals /High Court’s Order Before Supreme Court Not a Valid Ground to Ignore Challenged Orders: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/CESTAT-Appeal-against-Tribunals-High-Courts-Order-Before-Supreme-Court-Challenged-Orders-Tax-news-Taxscan.jpg "Mere Filing of Appeal against Tribunals /High Court’s Order Before Supreme Court Not a Valid Ground to Ignore Challenged Orders: CESTAT [Read Order]")
Addition u/s 41(1) of Income Tax Act not Allowable in Absence of Evidence of Cessation of Liability:Â ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) held that unless and until there is evidence to show that the liability has ceased to exist, there cannot be any addition under...
![Addition u/s 41(1) of Income Tax Act not Allowable in Absence of Evidence of Cessation of Liability:Â ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-ITAT-Delhi-Income-Tax-section-411-of-the-Income-Tax-Act-Income-Tax-Act-not-Allowable-Tax-news-Taxscan.jpg "Addition u/s 41(1) of Income Tax Act not Allowable in Absence of Evidence of Cessation of Liability:Â ITAT [Read Order]")
Supreme Court dismisses Appeal Challenging Retrospective Jurisdiction of NFRA, upholds NCLAT Order [Read Order]
The Supreme Court has dismissed an appeal challenging the retrospective jurisdiction of the National Financial Reporting Authority ( NFRA ) in line with the earlier decision of the National Company...
Taxpayer Follows Mercantile System of Accounting Consistently: ITAT allows Deduction of Rs. 34.2 lakhs u/s 57 of Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) allowed a deduction of Rs. 34.2 lakhs under Section 57 of the Income Tax Act, noting that the taxpayer consistently followed the...
![Taxpayer Follows Mercantile System of Accounting Consistently: ITAT allows Deduction of Rs. 34.2 lakhs u/s 57 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/ITAT-Section-57-of-the-Income-Tax-Act-ITAT-Kolkata-income-tax-deduction-Taxscan.jpg "Taxpayer Follows Mercantile System of Accounting Consistently: ITAT allows Deduction of Rs. 34.2 lakhs u/s 57 of Income Tax Act [Read Order]")
NCLT convicts Port Authority Officers for Contempt of Court on disobeying directions by Adjudicating Authority [Read Order]
The Hyderabad Bench of the National Company Law Tribunal ( NCLT ) convicted the Port Authority Officers for contempt of court on disobeying directions by the Adjudicating Authority. Aggrieved with...
