Department must not take advantage of ignorance of assessee to collect more tax than what is legitimately due: CBDT

Key Highlights & Decisions in the 48th Meeting of the GST Council

EU adopts global minimum tax of 15% on corporates:

Deputy Commision of Income Tax sentenced to Jail for a week by Allahabad HC

Section 80P(2)(d) deduction is permissible on Interest income of the Co-operative society from co- operative bank

“In case he is not punished, it would send down a wrong signal to other officials of Income Tax Department ” – One week Imprisonment to DCIT by High Court

SOP on filing of Appeals /SLPs by the Income Tax Department in the Supreme Court and other related matters

Use of car for personal use as well: ITAT disallowed 20% of depreciation as no log book for usage of car maintained

BJP CA Cell representation for one time GST Amnesty Scheme

Co-operative bank continues to be a co-operative society & Interest income on investment with a co- operative bank is eligible for deduction under section 80P(2)(d)

Whether TDS is required on entire amount even if the difference between actual sale consideration & stamp duty valuation is less than10%?

Hon’ble Bombay HC quashed the proceedings under Benami Act.

Different flats sold by builders to different persons at different rates: Whether AO can apply a higher rate to all the flats?

Common Penalties for defaults in the Income Tax Law: An Overview

Saving surcharge on income tax by way of having the Partnership Firm:

Condition of Proving ‘Source of Source of Funds’ under 68 not applicable to Non-Residents: ITAT

Mumbai ITAT in Kalpesh Synthetics Pvt Ltd vs. Validity of disallowance U/s 36(1)(va) while processing the return U/s 143(1)(a)

Disallowance of Employee Share of PF/ESIC U/s 36(1)(va) is not permissible U/s 143(1)(a) as it cannot fall within the ambit of prima-facie adjustments: Mumbai ITAT