News

RBI has officially removed Paytm Payments Bank Limited from the Second Schedule of the RBI Act, 1934, following the cancellation of its banking licence and liquidation proceedings.

RBI Announces Exclusion of Paytm Payments Bank Limited from Second Schedule of RBI Act, 1934

Judgement

The ITAT holds Rs 11 lakh cheque receipt explained and Rs 3.83 crore alleged cash payment as not established.


ITAT Deletes Additions Against Jaya Bachchan Over Alleged Noida Property Cash Receipt

The ITAT Mumbai held that liability accrued under Mercantile System cannot be disallowed merely because it remained unpaid.

ITAT Holds Accrued Share of Profit Expense Allowable Despite Non-Payment

The ITAT Mumbai deleted an addition of Rs 76.92 lakh made under Section 69 of the Income Tax Act towards alleged cash payment to a builder for purchase of a flat.


ITAT Holds Alleged Cash Payment Cannot Sustain Addition Without Independent Enquiry or Material Evidence

Urban Company faces a Rs 3.04 crore GST notice over alleged incorrect ITC claims and tax short payment, which the company has rejected.

Urban Company Faces Rs 3.04 Crore GST Claim Including Interest and Penalty, Rejects Allegations of Wrong ITC and Tax Underpayment

LG Electronics India has received a Rs 153.57 crore Customs Duty show cause notice alleging non-inclusion of royalty payments in the assessable value of certain imported goods.

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RBI Announces Exclusion of Paytm Payments Bank Limited from Second Schedule of RBI Act, 1934

ITAT Deletes Additions Against Jaya Bachchan Over Alleged Noida Property Cash Receipt

ITAT Holds Accrued Share of Profit Expense Allowable Despite Non-Payment

ITAT Holds Alleged Cash Payment Cannot Sustain Addition Without Independent Enquiry or Material Evidence

Urban Company Faces Rs 3.04 Crore GST Claim Including Interest and Penalty, Rejects Allegations of Wrong ITC and Tax Underpayment

DRI Alleges Short Payment of Customs Duty by LG Electronics India; Sends Recovery SCN of Rs 153.57 Crore