Clause 44 of Tax Audit Report vs. Bad Debts, GST on RCM, Depreciation, Electricity, Salary, Interest to Bank & Others, Late Fee
Illegal suspension of the GST registration of the petitioner on ground of non-payment of taxes for more than 3 return period & Observation by Calcutta High Court
Charitable Trust: Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which is rectifiable- Mumbai ITAT
Assessee can’t escape Sec. 43B disallowance by crediting GST amount to B/S instead of taking it in P&L a/c: ITAT
Robbery amount recovered by Police – Whether can be return to the Taxpayers even if the Income-tax Dept. has initiated section 132 proceedings?
Assessee can’t have custody of robbed cash recovered by police once the Income-tax Dept. has initiated section 132 proceedings: HC
Compensation for compulsory acquisition of Land: Not taxable even if there is no specific exemption provision in the Income-tax Act of 1961
Bad Debts Written Off: If a provision for expense is expressly excluded from Section 36 (1) (vii) then such a provision cannot claim deduction under Section 37 of the IT Act even on the basis of “real income theory”.