Fake ITC of 121 crore: DGGI Gurugram arrested 3 persons, including mastermind, commission agent and CA in racket of fictitious firms involving
Tribunal can’t set aside sec. 40(a)(i) disallowance without assigning reason for its conclusion: Karnataka HC
CBIC issued clarification regarding extension of time limit to apply for revocation of cancellation of registration
Validity of addition on account of unaccounted cash towards sale of land based on assessee’s acceptance during income tax raid
Directorate of Revenue Intelligence officers in Lucknow seized 77 gold biscuits from passengers who had arrived from Riyadh at Lucknow Airport in an anti-smuggling operation
Income tax Rule 12F Notified by CBDT to prescribed income- tax authority under second proviso to clause (i) of sub-section (1) of section 142
Validity of re-assessment Notice u/s 148 issued on or after 1-4-2021 where due process under section 148A was not followed
Know about the Original Due Date, Extended Due Date & Re-Extended Due dates of filing Income Tax Returns & Audit Reports
Writ need to be entertained only in exceptional circumstances like Breach of fundamental rights, Violation of the principles of natural justice etc: Supreme Court
Apex Court in Union of India & Ors. Vs VKC Footsteps India Pvt Ltd has finally put to rest the controversy revolving around Rule 89(5). It has sets aside the order of Gujarat HC and upheld the order of Madras HC.
