Tax Dept. conducts search on group engaged in business of gold & diamond jewellery and real estate

Sec. 43CA amendment increasing safe harbour limit from 5% to 10% on sale of immovable property has retrospective effect

Eligibility for becoming ITAT Member: Supreme Court Issues Notice On Challenge Against Provision Requiring Chartered Accountants to Have 25 Yrs Minimum Experience

Agricultural land converted into non agricultural merely for facilitating sale is not a capital asset: ITAT Bangalore

Income earned in Dubai by UAE resident and invested in India is not taxable as unexplained investment: ITAT Mumbai

Genuine Business Transactions cannot be Disallowed under section 40(3) Income Tax: ITAT

ED has power to attach properties even in the case of moratorium under IBC: Delhi HC

No appeal by GST Department against Supreme Court’s decision in Mohit Minerals on the imposition of IGST on ocean freight

SOP for Penalties under Faceless Penalty Scheme-2021

Prosecution proceedings quashed by HC for demand raised by AO relying upon order of CIT(A) which was set aside by ITAT

Attention Income-tax Payers: A Stitch in Time Save Nine – Know about E-verification Scheme – 2021

An Overview of the Recent ROC Penalty / Charges orders:

Adjustment of refund: Giving of prior intimation under section 245 is mandatory.

Filing of affidavit before officer in support of the claim of cost of improvement can be useful?

Reassessment on ground that assessee had applied SLM instead of WDV of dep. is change of opinion: HC

No Sec. 69 additions in hands of director merely because Co. used his PAN to purchase land: ITAT

Legal exp. incurred for directors can’t be treated as personal without examining outcome of proceedings

Penalties for various defaults in the Income Tax Law: An Overview (II)