Income less than Rs. 7 Lakh – Reasons & Remedy For tax demand

Adjustment cannot be made in the intimation issued u/s 143(1) without giving an opportunity of being heard to the assessee.

Personal hearing through video conferencing not Provided – Bombay HC quashed the assessment order

Whether the addition under section 50C(1) can fall within the ambit of adjustments provided under section 143(1)(a) of the Act?

Bombay High Court Orders Multi-Agency Investigation into Accommodation Entry Racket

Issue in filling applications (SPL 01/SPL 02) under waiver scheme

Issue in Registration of ISD – An Apt Representation by GSTPA

AIFTP apt representation for timely appeal disposal, expedite hearings, and issue clear guidelines to resolve pendency

Satisfaction of Twin condition (i) an error prejudicial to the interests of the Revenue and (ii) lack of proper inquiry by the Assessing Officer must for invoking revisionary power under section 263

Provision, if commercially prudent and contractually required, is not merely permissible but necessary and cannot be equated with uncertain or notional liabilities: Delhi HC

Delhi HC allows ITC Despite Wrong GSTN

CBDT issues clarification on exemptions from Principal Purpose Test (PPT)

If shares are held for over 12 months and consistently treated as investments, the resulting income should be treated as capital gains & not as Business Income

Where regular assessment proceedings have been commenced U/s 143(2), there is no need for summary proceedings under Section 143(1)(a)

Reassessment Quashed Due to Borrowed Satisfaction and Lack of Independent Inquiry

Reopening on one ground and addition on different Ground – ITAT Confirmed CIT(A)’s Decision to Cancel Reassessment

Nagpur ITAT deleted addition under section 69A in respect of cash loans as Assessee acted as a finance broker

An overview of FAQ on compounding of offences under Income Tax Act, 1961