Income Tax Authorities are not bound by the rules of evidence & so Section 65B of the Evidence Act does not: Madras HC    The order issued by the Hon’ble Madurai Bench of the Madras High Court In case of The ACIT Vs. M/s. VV Minerals & M/s. Vijay Cements. (30.04.2025) has reiterated that the Income…

When a power is conferred to perform a particular function in a specified manner, it must be exercised only in that manner or not at all: Raipur ITAT   Raipur ITAT in the case of Dolphin Promoters and Builders vs. Addl. CIT, ITA No 58/RPR/2024 has held that when a power is conferred to perform…

An overview of latest Amendment in Tax Audit Report in Form No. 3CD     On April 1 2025 CBDT modified Form 3CD for the AY 2025-26. However, Clauses 22 and 26 are critical because many MSME and small taxpayers fail to maintain the books of account in such a way so as to make…

Whether the Assessing Officer can enquire into those issues which were beyond the scope of limited scrutiny?   In limited scrutiny, the scope of assessment is confined strictly to the specific issues flagged for examination. The AO cannot venture into new areas or issues outside the original scope unless the case is converted into a…

No Immunity from addition under Section 68 even if taxpayers opts for presumptive scheme of taxation under section 44AD   In The case of Hemant Shah HUF vs. ACIT, ITA No. 4516/Mum/2024, decided on April 30, 2025, by the Mumbai Income Tax Appellate Tribunal (ITAT), addresses the interplay between presumptive taxation under Section 44AD and…