Validation Rules for ITR 3

New tax rate of 6% introduced on certain goods

Applicability of Section 56(2) on Renouncing Rights Shares in Favour of the Assessee by non-related person is Liable to Tax u/s 56(2)

Mandatory deduction of 1/3rd of total consideration towards the value of land is arbitrary: Guj. HC

Interest & Penalty to be imposed only if credit was wrongly availed & utilised: HC

reassessment notices issued under the unamended Section 148 of the Income Tax Act on or after April 1, 2021, will not be deemed to be invalid

Prosecution under PMLA not tenable, if no sufficient case made out: SC

1/3rd deduction towards Land in GST & Gujarat High Court Landmark Judgement

Whether interest on delayed payment of TDS is deductible expenses?

One more achievement by Infosys led portals

Applying Article 142 in the Income Tax Law for validating the reassessment proceeding: An overview

Gujarat High Court gave GST relief to homebuyers, plot purchasers & real estate investors

Applicability of Tax Audit on remuneration from Partnership firm

SC holds reassessment notices issued under old regime deemed to be issued under Sec.148A

Validity of adjustment u/s 143(1)(a) on the basis of views expressed by the tax auditor in tax audit report

Section 148 Controversy put to Rest – 90000 cases given new life by Hon’ble Supreme Court

Legal fees for criminal cases is an allowable expenses: ITAT Mumbai

Operative part of the Supreme Court justifying section 148 notice issued by the Income Tax Department for reassessment proceeding initiated after 01.04.2021