Admissibility of writ petition against reassessment order u/s 148: Supreme Court observed the High Court order rejecting writ under Article 226 as cryptic, non­speaking and non­-reasoned – Restored the matter back to HC

Bonus paid to Directors of the Company who were the only shareholders is disallowable u/s 36(1)(ii) as it was nothing but in lieu of dividend: Delhi High Court

Foreign exchange fluctuation loss incurred for the purpose of borrowing in the business of financing and leasing is a revenue expenditure allowable u/s 37: WIPRO Finance Limited Vs CIT

Failure of AO to issue scrutiny notice in time couldn’t be cured by resorting to sec. 292BB: HC

Absence of notice u/s 143(2) cannot be cured by application of Sec 292BB of IT Act: Delhi HC

No to Cash Transactions- The Income Tax Way

SOME IMPORTANT JUDGEMENTS ON INSURANCE

Non Filing of GST Returns and cancellation of GST Registration by the Department: Madras HC restored with the remark “ No useful purpose will be served by keeping such assessee out of the Goods and Services Tax regime”

Condonation of  delay of 238 days in filing appeal granted by ITAT – Considered medical grounds for admitting the Appeal

Supreme Court stays High Court observation declaring faceless assessment as non est u/s 144B(9) in view of repeal of section 144B(9) W.R.E.F. 01.04.2021 by FA-2022

Who is entitled to gratuity and how it is taxed in India

Auditors may face ban on non-audit work in large cos

Verification / Certification of documents related to Incorporation of a Company or a LLP by practicing Professionals

CBIC prescribes BCD and AIDC on Raw Cotton for a specified period

“King can do no wrong” – Observation by Bombay HC in the case of Mantra Industries Limited Vs NFAC at Para 9 stayed

Additional Information to be provided while generating UDIN for Audit Report for Statutory Audit of Bank Branches 

Charitable Trust: Don’t forget to file the list of Donor in Form No. 10BD

Receiving foreign donation cannot be an absolute right: SC