![Rectification Not Available for Debatable Income Tax Matters: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Delhi-Income-tax-Debatable-Income-Tax-Matter-Rectification-in-income-tax-matter-Income-Tax-Appellate-Tribunal-taxscan.jpg "Rectification Not Available for Debatable Income Tax Matters: ITAT [Read Order]")
Rectification Not Available for Debatable Income Tax Matters: ITAT [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) of Delhi held that rectification is not ermissible for debatable issues related to...
![Old and Worn Clothes Imported Without Valid Specific License: CESTAT Upholds 10% Redemption Fine and 5% Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/CESTAT-CESTAT-Kolkata-Import-old-Cloth-penalty-TAXSCAN.jpg "Old and Worn Clothes Imported Without Valid Specific License: CESTAT Upholds 10% Redemption Fine and 5% Penalty [Read Order]")
![Disregard of Additional Evidence By CIT(A): ITAT Remanda Ad Hoc Income Tax Disallowance to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Delhi-Ad-Hoc-Income-Tax-Income-tax-Income-Tax-Disallowance-Disregard-of-Additional-Evidence-taxscan.jpg "Disregard of Additional Evidence By CIT(A): ITAT Remanda Ad Hoc Income Tax Disallowance to AO [Read Order]")
![Madras HC Remands GST Demand Alleged Suppression of Taxable Turnover Matter Citing Failure to Consider Taxpayers Submissions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Madras-High-Court-Madras-HC-GST-Goods-and-Service-Tax-GST-Demand-Taxpayer-Madras-HC-Remands-GST-Demand-TAXSCAN.jpg "Madras HC Remands GST Demand Alleged Suppression of Taxable Turnover Matter Citing Failure to Consider Taxpayers Submissions [Read Order]")
Fees Paid to Foreign Affiliates For Management Services and Trademark Licensing Not Includable in Imported Goods Valuation: CESTAT [Read Order]
Recently in a ruling, the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) held that fees paid to foreign affiliates for management services and trademark licensing are not to be...
![Fees Paid to Foreign Affiliates For Management Services and Trademark Licensing Not Includable in Imported Goods Valuation: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/CESTAT-Fees-Paid-to-Foreign-Affiliates-Fees-For-Management-Services-Fees-for-Trademark-Licensing-Imported-Goods-Valuation-taxscan.jpg "Fees Paid to Foreign Affiliates For Management Services and Trademark Licensing Not Includable in Imported Goods Valuation: CESTAT [Read Order]")
S.36 of Income Tax Misinterpreted by AO: ITAT Upholds Bank's Claim for Non- Rural Bad Debt Write Off [Read Order]
Recently in a decision, the Income Tax Appellate Tribunal ( ITAT ) of Bangalore upheld a bank’s claim for the write-off of non-rural bad debts, overturning the Assessing Officer’s ( AO )...
![S.36 of Income Tax Misinterpreted by AO: ITAT Upholds Banks Claim for Non- Rural Bad Debt Write Off [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Bangalore-Income-Tax-Income-Tax-Misinterpreted-Section36-of-Income-Tax-Non-Rural-Bad-Debt-taxscan.jpg "S.36 of Income Tax Misinterpreted by AO: ITAT Upholds Banks Claim for Non- Rural Bad Debt Write Off [Read Order]")
“Treating Cash Deposits from ‘Business Income’ as ‘Unexplained’ Results in Double Taxation”: ITAT Quashes S.69A Addition under Income Tax [Read Order]
Recently in a decision, the Income Tax Appellate Tribunal ( ITAT ) of Bangalore, quashed an addition made under Section 69A of the Income Tax Act 1961 ( ITA ) holding that treating cash deposits from...
![“Treating Cash Deposits from ‘Business Income’ as ‘Unexplained’ Results in Double Taxation”: ITAT Quashes S.69A Addition under Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Bangalore-Income-Tax-Business-Income-Cash-deposit-Double-Taxation-taxscan.jpg "“Treating Cash Deposits from ‘Business Income’ as ‘Unexplained’ Results in Double Taxation”: ITAT Quashes S.69A Addition under Income Tax [Read Order]")
ICAI announces Launch of Physical Batch of the ‘Certificate Course on Indian Accounting Standards (Ind AS) at Bhubaneswar
The Institute of Chartered Accountants of India ( ICAI ) has announced the launch of the fourth physical batch of the 'Certificate Course on Indian Accounting Standards ( Ind AS )' in Bhubaneswar....
Madras HC confirms 150% Penalty imposed u/s 16(2)(d) of TNGST Act for Sales/Purchase Suppression Despite Deleting Speculative Additions [Read Order]
In a recent ruling, the Madras High Court confirmed a 150% penalty imposed under Section 16(2)(d) of the Tamil Nadu General Sales Tax Act, 1959 (TNGST Act) for sales/purchases suppression despite...
![Madras HC confirms 150% Penalty imposed u/s 16(2)(d) of TNGST Act for Sales/Purchase Suppression Despite Deleting Speculative Additions [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Madras-HC-Madras-High-Court-Madras-HC-Confirms-TNGST-Act-sales-or-purchases-suppression-Deleting-Speculative-Additions-High-Court-news-taxscan.jpg "Madras HC confirms 150% Penalty imposed u/s 16(2)(d) of TNGST Act for Sales/Purchase Suppression Despite Deleting Speculative Additions [Read Order]")
Relief to Jindal Saw: ITAT Rules Excise Duty Demand not Chargeable to Tax being Capital Receipt in Nature [Read Order]
In a relief to Jindal Saw Ltd, the Income Tax Appellate Tribunal ( ITAT ) of Delhi ruled that the excise duty refund received by the company is not chargeable to tax, classifying it as a capital...
![Relief to Jindal Saw: ITAT Rules Excise Duty Demand not Chargeable to Tax being Capital Receipt in Nature [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/TAT-ITAT-Rules-Excise-Duty-Relief-to-Jindal-Saw-Income-Tax-Appellate-Tribunal-Not-Chargeable-to-Tax-Capital-Receipt-in-Nature-Gujarats-Kutch-District-taxscan.jpg "Relief to Jindal Saw: ITAT Rules Excise Duty Demand not Chargeable to Tax being Capital Receipt in Nature [Read Order]")