Know about Article 142 of The Constitution of India which is likely to be invoked for validating section 148 Notice

Validity of imposition of penalty for not getting the books of accounts audited due to ignorance of law

Writ can be filed even if alternative remedy in the form of CIT – Appeal Is not used by the taxpayers.

“Section 148 controversy likely to be decided in favour of the Revenue”

Know how your leave incashment is taxed by Balwant Jain

No addition can be done against the fictitious entry in the books of accounts

COMPILATION OF ARTICLES ON SOME MOST IMPORTANT CONCEPTS OF INSURANCE

ITAT has to consider the additional evidence application under Rule 29 before proceeding ahead with the final hearing.

PAN, address, e-mail ID of company members cannot be inspected: MCA

Issue of notice of hearing is a statutory requirement U/s. 75(4) Of CGST Act before imposition of tax or penalty.

SOME IMPORTANT JUDGEMENTS ON INCOME TAX, GST, & IBC OTHER CORPORATE LAWS BY CS DEEPAK SINGH

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