Income Tax Return filing Fees may find the place in Union Budget – 2023?

Section 127 of the Income Tax Act-1961: Inconvenience of assessee has to be balanced against department’s right to carry its functions

Benefit of Circular 183/15/2022-GST dated 27-Dec-2022 resolving the ITC mistmatches between GSTR 3B and GSTR 2A applies to FY 2019-20 also: Karnataka High Court

Clarification regarding GST rates and classification of certain goods based on the recommendations of the GST Council in its 48th meeting held on 17th December, 2022 –reg.

New Functionality in GST Returns: A Short Overview

GST Advisory on “Initiating Drop Proceeding” by taxpayers

Penalty imposed on the Auditor for non classification & disclosure of the loans in the Audited Financial Statements

Loss on account of purchase of distribution rights of the film ‘Arakshan’ is a capital loss: ITAT

HC sets aside the Tribunal order which has copied the CIT(A) findings verbatim:

Highest Direct Tax Collection of Rs. 14.71 Lakh Crore till 10th January 2023

Delayed filing of GSTR 1/3B & Denial of ITC vis a vis Principal of Natural justice and was violation of Article 14 of the constitution of India.

Limit of Rs. 5,000 applicable on interest income to report in Statement of Financial Transactions (SFT) by the reporting entities abolished

Validity of addition solely on the basis of a statement that some payments were made

Section 127 of the Income Tax Act-1961: There is no absolute right to be assessed in a particular Territory

ITAT can not pass an order in any manner it likes

Notice issued for prosecution under Black Money Act unconstitutional for defaults before 2015 i.e., when Black Money Act was enacted. Bombay High Court issues notice

Provisions of section 80AC do note apply to section 80P if the return of income is not filed

Unauthorised sale of company’s land by a director, cannot be considered as unaccounted money: ITAT