Month: August 2017

Recent Posts

• No addition towards Bogus Purchase if assessee has opted for presumptive taxation scheme under Section 44AD
• Jewellers Under I-T Scanner for Inventory Valuation Trick: The LIFO Loophole
• ITAT Mumbai Quashes Addition in Penny Stock Case: No Evidence, No Tax!
• Mumbai ITAT Upholds Taxation of Covid Donation Funds Used for Personal Expenses by Assessee:
• A simple checklist for Clause 34 of Tax Audit Report to be Considered by Auditors:
• Madras High Court Rules: No Clubbing of GST Show Cause Notices for Multiple Financial Years
• Relaxation of time limit for processing of returns of income filed electronically which were incorrectly invalidated by CPC
• UPI Under GST Lens: Traders Must Be Cautious, Not Fearful
• Section 43CA Additions Quashed by ITAT Pune: A Victory Against Mechanical Reopening and Misapplication of Law
• Foreign Mutual Funds Must Be Reported in ITR — Avoid ₹10 Lakh Penalty