Directors can’t be booked just because a company violated the law.

All about SFT codes in Annual Information Statement (AIS)

Post Income Tax Search and Seizure findings of incriminating material and undisclosed income cannot be pressed for supporting the authorization of an Income Tax Search- A Study

For business, no formal books of accounts required. Only compilation on the basis of bills/vouchers etc would be sufficient

Last date for submitting online applications for scrip-based schemes under the Foreign Trade Policy 2015-20 is 31 December 2021 .

“Such documents as may enable assessing Officer to compute the Income” & the Rules regarding the maintenance of books of accounts under Income Tax Act

Income Tax Rules provide for maintenance and retention of books of accounts only by person carrying on specified profession

Importers availing tax credit on extra taxes paid under I-T lenses

Validity of penalty levied for non maintenance of books of accounts on the basis of statements given during survey if the audit report was furnished at the time of filing income tax return

Once it is established that order u/s 263 was made/passed within 2 years, such an order could not be said to be beyond the period of limitation prescribed u/s 263(2).

Allowability of Depreciation on Server, storage and accessories procured by aasessee on lease

Reassessment quashed as there was tangible material in possession of AO at the time of reopening and re-pening based merely on CIB Report alone

Lifting of provisional attachment without providing reasonable opportunity to revenue is not justified: Madras HC

Disallowance of debit in electronic credit ledger under Rule 86A of CGST Rules, 2017 vs. Recent Guidelines by CBIC

CBDT notifies ‘E Settlement Scheme, 2021’ vide Notification No. 129/2021-Income Tax Dated: 1st November, 2021.

Unaccounted income exceeding Rs. 200 crore found in Income Tax Raid in Jammu & Kashmir and Punjab

Withholding of IGST by department on the ground of pending investigation: Bombay HC directed department to refund it expeditiously

Income assessed by CPC cannot be taken as Returned income while passing assessment order u/s 143(3)