Immunity from penalty under section 270AA: Delay in applying immunity from penalties is only a technical breach of procedural law & immunity should be granted as long as the tax is paid

A Short overview of the Direct Tax Vivad se Vishwas Scheme, 2024

CBDT notifies Rules & Forms for Direct Tax Vivad Se Vishwas Scheme, 2024.

Procedural non-compliance: Reassessment notices issued under sections 148 and 148A declared invalid by Bombay HC

Rare Conviction for failure to file audit, MD jailed

Section 168A: Gauhati HC Declares Notification No. 56/2023-CT Ultra Vires

New Procedural Aspects of Block Assessments:

Presumptive Scheme of Taxation – Not a license to declare lower income

When it has been established that unsecured loans are accommodation entries, mere repayment is not a ground to drop the addition U/S 68: Mumbai ITAT

Direct Tax Vivad Se Vishwas Scheme, 2024: A Comprehensive Guide

Taxability of transfer fees:

Interest earned on damages awarded through a decree of a court is a revenue receipt chargeable to tax in India while damages itself will not be chargeable.

Issuance of notice under section 143(2) is mandatory: Procedural lapse is fatal and cannot be cured

Carry forward of losses in the case of takeover of a company undergoing NCLT proceedings:

GST Notice for the reason “High turnover but low Income Tax paid”

CBDT Circular enhancing the monetary thresholds for filing appeals by the Department against orders passed in favor of the Assessee

Income Tax Refund cannot be denied only on account of discrepancies in Form 26AS: Delhi HC

Exemption u/s. 10(38) disallowed as sale of share was an affair to convert unaccounted money: ITAT Ahmedabad