No penalty on Income Tax Department for delay in release of utility for filing ITR – Letter by Honest Taxpayer

Interesting Ruling on Pure Agent

One More : AO cannot make disallowance resulting into a total disallowance u/s 14A, which is more than the exempt income

Harsh Judgment : Get ready , Interest is payable on Gross liability and not net tax after set-off.

FMV u/s 50C can be used to compute capital gains only after giving opportunity of being heard to assessee

Maida Vadam/Papad’ exempt from GST : AAR

Capital gain u/s 45(4) & Retirement of partners of firm

Penal Interest will not be treated as Interest for GST.

Section 50C can’t be applied when property sold under pressure: ITAT Chennai

What and How Auditor should consider about reporting of Key Audit Matter (KAM) in audit reports !

Corruption Check : Asst. Commissioner & CA arrested

Trading liability of business discontinued 10 years ago is deemed as business profit u/s 41(1).

An interesting decision (observation) in respect of Provisions of section 201 in respect of TDS on payments to Non-Residents-

Existing liability may include Self Assessment Tax (SAT) – A justification for adjustment of cash seized against SAT

Pune ITAT on Explanation 2 to Section 132B of the Income Tax Act, 1961 inserted by the Finance Act, 2013 w.e.f. 01.06.20103 is ‘prospective’ or restrospective? 

Whether cash seized by income tax department can be adjusted as self assessment tax or can be treated as advance tax?

Income Tax department has revised Form-16

ED Seizes gold jewellery worth Rs. 82.1 Cr. in Hyderabad, Vijaywada