![ITAT Holds Scrap Sales Taxable as Operating Income: ₹26.18 Lakh Treated from Packing Material [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/500x300_2078143-itat-scrap-sales-income-packing-material-taxscan.webp "ITAT Holds Scrap Sales Taxable as Operating Income: ₹26.18 Lakh Treated from Packing Material [Read Order]")
ITAT Holds Scrap Sales Taxable as Operating Income: ₹26.18 Lakh Treated from Packing Material [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that receipts from scrap sales, when linked to regular manufacturing...
![Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/250x150_2078144-deduction-us-80p2d-of-income-tax-banking-business-taxscan.webp "Income Tax Deduction u/s 80 P allowable for Interest Earned on Surplus Lending Funds to Banking Business: Calcutta HC [Read Order]")
![Issue of Irregular GST ITC: Calcutta HC dismissed Petition being not maintainable [Read Order]](https://images.taxscan.in/h-upload/2025/08/19/250x150_2078135-2062356-gst-itc-input-tax-credit-e-ledger-supreme-court-taxscan.webp "Issue of Irregular GST ITC: Calcutta HC dismissed Petition being not maintainable [Read Order]")
![ITAT directs to delete Income Tax Additions based on Interest Paid on Cash Loans [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/250x150_2078048-itat-income-tax-paid-cash-loans-taxscan.webp "ITAT directs to delete Income Tax Additions based on Interest Paid on Cash Loans [Read Order]")
![Non-Filing of Part-B of E-Way Bill for Job Work Movement a Technical Lapse When Part-A Was Produced: Gujarat HC Reduces Penalty [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/250x150_2078049-e-way-bill-taxscan.webp "Non-Filing of Part-B of E-Way Bill for Job Work Movement a Technical Lapse When Part-A Was Produced: Gujarat HC Reduces Penalty [Read Order]")
Classification of Goods: Madras HC Directs CESTAT to Consider Precedents Cited by BenQ India While Entertaining Appeal [Read Order]
The Madras High Court has directed the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) to take into account judicial precedents mentioned by BenQ India in relation to the...
![Classification of Goods: Madras HC Directs CESTAT to Consider Precedents Cited by BenQ India While Entertaining Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078043-classification-goods-taxscan.webp "Classification of Goods: Madras HC Directs CESTAT to Consider Precedents Cited by BenQ India While Entertaining Appeal [Read Order]")
AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]
In a recent ruling, the Bombay High Court held that an Assessing Officer cannot go beyond the net profit shown in the profit and loss account except to the extent permitted in the Explanation to...
![AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078071-ao-beyond-net-profit-pl-except-explanation-section-115j-bombay-hc-mahindra-case-taxscan.webp "AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]")
Search Assessments Valid as Approved by JCIT: ITAT says Additions were made Based on Incriminating Materials [Read Order]
The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the search assessments search assessments framed under section 153A of the Income Tax Act, 1961 and dismissed the assessee’s...
![Search Assessments Valid as Approved by JCIT: ITAT says Additions were made Based on Incriminating Materials [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078058-search-assessments-valid-approved-by-jcit-itat-incriminating-materials-taxscan.webp "Search Assessments Valid as Approved by JCIT: ITAT says Additions were made Based on Incriminating Materials [Read Order]")
Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has allowed the appeal by the assessee by restricting the addition of demonetization cash deposits to 50% and held that the...
![Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078053-retd-ias-demonetization-cash-deposit-itat-applies-tax-us-115bbe-taxscan.webp "Retd IAS officer’s Demonetization Cash Deposit Addition of ₹23.33 Lakh Cut to 50%: ITAT applies 30% Tax u/s 115BBE [Read Order]")
Without Acknowledgement or Returned Cover from Customs Dept, Assessee’s Statement on Date of Receipt of Order Prevails: Madras HC [Read Order]
The Madras High Court has ruled that in the absence of acknowledgement or returned cover evidencing service of the customs adjudication order by the customs dept, the assessee’s statement regarding...
![Without Acknowledgement or Returned Cover from Customs Dept, Assessee’s Statement on Date of Receipt of Order Prevails: Madras HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078046-without-acknowledgement-or-returned-cover-from-customs-dept-taxscan.webp "Without Acknowledgement or Returned Cover from Customs Dept, Assessee’s Statement on Date of Receipt of Order Prevails: Madras HC [Read Order]")
Expenditure on Subsidiary for Commercial Expediency Allowable as Business Deduction: Bombay HC in Mahindra Case [Read Order]
In a recent ruling, the Bombay High Court held that expenditure incurred by a company on its subsidiary for commercial expediency is allowable as a business deduction. Mahindra & Mahindra...
![Expenditure on Subsidiary for Commercial Expediency Allowable as Business Deduction: Bombay HC in Mahindra Case [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078050-business-deduction-bombay-hc-in-mahindra-case-taxscan.webp "Expenditure on Subsidiary for Commercial Expediency Allowable as Business Deduction: Bombay HC in Mahindra Case [Read Order]")
