Taxable value for the purposes of GST shall include the TCS amount collected under the provisions of the Income Tax Act
In absence of any valid reason to believe that assessee’s income has escaped assessment, assumption of jurisdiction as prescribed u/s 147 is bad in law.
No disallowance u/s 40(a)(ia) if TDS certificate clearly refers to the assessee being exempted and the fact that TDS on rent payment would only result in refund of the same
If AO failed to analyse details of expenditure while forming a belief that income had escaped assessment, re-opening of case u/s 147 is bad in law.
Ponzi schemes, which lure middle class people with hefty interest rates must come to an end but not at the cost of small businessmen !!
Cash claimed to have been received as gift if the recipient fails to explain the reason behind piece-meal deposit of an amount purportedly received in lump-sum
Unsecured Loans taken for business is not violation of “The Banning of Unregulated Deposit Scheme Ordinanc-2019” . Department of Financial Services (DFS), Government of India clarified by tweeting.
Validity of addition if the creditors have declared sufficient bank balances also supported by the documentary evidences
