Some useful judgements on scope of rectification u/s 154.

CA Exams May Be Postponed To June

Goods procured from one country and supplied to another doesn’t attract IGST: AAR

Start-up tax exemption procedure simplified; merchant banker valuation report withdrawn

If default in payment of interest then penal interest will attract GST and increase the cost of loan

GIFT TAX IN INDIA

Failure to issue Form No. 16: We would expect the Department of Revenue, particularly, Department of Income Tax to penalise such defaulters and take other strict measures contemplated by law against them: High Court

CBDT clarifies – Section 56(2)(x) even applies to fresh issue of Shares by the Company. Controversy continues

Second proviso to s. 40(a)(ia) is beneficial to the assessee and is declaratory and curative in nature

Even fresh issue of shares attract the provision of section 56(2)(x) if issued below its FMV

Exception to the rule – ‘Failure to deal with an argument does not constitute a ‘mistake apparent from the record’ does not apply to a case where a fundamental submission is omitted to be considered by the ITAT’.

CPT, Foundation, Final(Old) & Final(New) Examination Results declared.

If e-way bill was generated before seizure order then goods couldnt be seized: HC

If e-way bill was generated before seizure order then goods couldn t be seized: HC

Non-filers can submit Income Tax Returns within 21 Days: Important Points to Remember

ICAI CA Results Awaited

No deduction towards interest u/s S. 36(1)(iii) for new unit even in the case of an assessee already in the same business

The basic condition precedent of ‘reason to believe’ applies even to s. 143(1) intimations.