Adjustment of refund by CPC against demand for another year without issuing intimation u/s 245 of the Act is Invalid

COMPLIANCE CALENDAR MARCH – 2023

Co. entitled to Dep. & exp. on maintenance of sports car purchased for commuting key managerial personnel’s: ITAT

Recovery action first to be initiated towards the defaulting sellers before imposing responsibility on the dealer

Where the assessee is adversely affected by the statement of a third party, denial of cross-examination by AO of such third party would not be justified: ITAT

Sovereign Gold Bonds- Option better than Physical Gold

Disallowance of PF/ESIC under section 143(1)(a) is not permissible: ITAT Jaipur

Section 50C is not Applicable in case of compulsory acquisition of Land by the Govt where payment of stamp duty is not applicable.

Advisory on opting for payment of tax under the forward charge mechanism by a Goods Transport Agency (GTA)

List of Information which will be Reflected in AIS/TIS (From AY 2023-24 onwards)

Seconded employees do not come under ‘FTS’ OR ‘FIS’: ITAT

If one can conclude that there is no suppression in the value, question of invoking Section 50C does not arise.

Lower E invoicing turnover Limit wef 01.04.2023

Rs. 10 Cr ceiling proposed for capital gain exemption in Union Budget – 2023: An overview

No additions based on statements of ex-employees & dealers without allowing assessee to crossing examine them: ITAT

Advisory on New e-Invoice Portal

Whether provision for warranty can be allowed as an expense under Income Tax Act?

Advisory on Geocoding of Address of Principal Place of Business