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⚡Check out what’s happening recently!
Input Tax Credit Can’t Be Blocked If Credit Balance Is Nil: Bombay High Court
The Bombay High Court on Tuesday held that Input Tax Credit (ITC) cannot be blocked under Rule 86-A of the Central Goods and Services Tax Rules, 2017, if the electronic credit…
Customs | FERA Penalty U/S 50 Not Applicable For Export Shortfall Below 10%; Exporter Can Write-Off Unrealised Bills: Madras High Court
The Madras High Court stated that the FERA (Foreign Exchange Regulation Act) penalty under Section 50 is not applicable for export shortfall below 10%; the exporter can write off unrealised bills….
Income Tax Act | Assessee Can Challenge Cash Credit Addition U/S 68 In Remand Proceedings; Tribunal’s Direction Not Binding: Kerala High Court
The Kerala High Court held that the assessee is free to challenge the cash credit addition under Section 68 of the Income Tax Act in remand proceedings; the tribunal’s directions are…
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