Compliance Calendar for May-22

PURCHASE OF PROPERTY FROM NRI AND TDS RELATED PROVISION

Rule 12AC notified ITR – U for Updated return u/s 139(8A).

Whether Karta of a HUF has the power to sell immovable property belonging to the family without consent of all the coparceners of the family.

Consumable items on account of furnishing sofa, microwave, etc cannot be considered as cost of improvement for computation of capital gain: ITAT Mumbai

Mrs. Sangeeta Singh to hold Additional Charge as Chairman, CBDT

Bombay HC quashed the reopening which was made within 4 years on the same issue which was examined during 143(3) proceedings

An overview of the Updated returns in Form ITR- U

Filing Income Tax Returns for the AY 2022-23: Mistakes to be avoided

Scholarship By Hamdard Foundation, Exemption Under Income Tax Act Can’t Be Denied: Delhi HC

Advisory on GSTR-1/IFF enhancements and improvements deployed on GST Portal

Revised guidelines for National Risk Management committee (nrmc) for Customs & GST

DIFFICULTIES IN THE USE OF MCA 21 VERSION 3.0 By KSCAA

High Court has dismissed the writ petitions in a most casual manner which is unsustainable: Supreme Court in Vishal Ashwin Patel Vs ACIT

If the view taken by the A.O. is clearly plausible in law, it cannot be displaced in a revisionary proceedings by a very untenable or a debatable view.

AO should grant immunity from penalty and prosecution if conditions U/S 270AA are satisfied: Delhi HC

Late deposit of employees contribution to the provident fund and ESI, cannot be disallowed if it is deposited before the due date of the filing of the return of an income 

Whether case can be remanded back to lower authority to provide adequate opportunity to assessee to substantiate with evidences creditworthiness  and genuineness of transactions?