Appointment of Chartered Accountant Firm as Internal Auditor of PFRDA for the F.Y.2021-22

If the taxpayer had substantiated with evidence regarding identity and creditworthiness of share applicants and genuineness of transactions, no addition u/s 68 was called for.

Borrowed money invested in equity & Disallowance of interest expenses under section 36(1)(iii)

Onus to prove source of amount credited in accounts books lie with the assessee failing which it will be treated as undisclosed sources income.

In case of Charitable trust, even if there is a violation of section 13, entire exemption under section 11 and 12 cannot be forfeited

Issue of sec. 148 notice under old provisions; Calcutta HC admits writ challenging validity of TLA Act, 2020

Wrong Claim for Income Tax Deduction can’t be a reason to invoke Penalty u/s 271(1)(c)

“ANNUAL COMPLIANCE FOR SECTION 8 COMPANIES”

If Long Term Capital Gain declared by the assessee is genuine, it can not be assessed as unexplained cash credit under section 68 of the Act.

Whether assessee can make fresh claim during assessment proceeding?

DGGI’s Meerut Zonal Unit detected case of short payment of GST of Rs. 180 crores on composite supply of Works Contract Services where the taxable value was not shown correctly: CBIC Chairman

If is found that some of the audit procedures detailed in the SAs were not in fact complied with, it may tantamount to the auditor making a deliberately false declaration in his report and the consequences for the auditor could be very serious indeed: NFRA

Income Tax Raids on four major Steel Rolling Mills Groups Maharashtra.

Taxation of Gratuity taxable on superannuation?

Supreme Court recalled the suo-moto limitation period order for filing of cases in view of the COVID second wave

LEAVE ENCASHMENT AT THE TIME OF RETIREMENT: TAXATION & PLANNING

Cases Excluded from Faceless Assessment: CBDT issues order u/s 119

CBIC issued Notification No. 36/2021 to amend Notification No. 03/2021