Mandatory to link your Aadhaar with PAN: Deadline is 31st March 2023
In case your PAN is not linked with Aadhaar, the PAN will become inoperative from 1st April 2023 .Please click on the link below to check status .
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The Blogs
Cash deposits in bank account of one Person after withdrawing it from the account of other Person
Cash deposits in bank account of one Person after withdrawing it from the account of other Person
Cash deposits in bank account of one Person after withdrawing it from the account of other Person
Entries in the bank statement of the ...
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Amendments to the Finance Bill 2023 while Passing throush Loksabha
Amendments to the Finance Bill 2023 while Passing throush Loksabha
The Finance Bill, 2022 (Amended Bill) was passed by the Lok Sabha on 25 March 2022 with amendments to the original Bill that was tabled before the Lok Sabha on ...
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Indexation benefit is available to an inherited property from the date of acquisition by first owner: ITAT Mumbai
Indexation benefit is available to an inherited property from the date of acquisition by first owner: ITAT Mumbai
ITO v. Sohrab Fali Mehta [TS-117-ITAT-2023(Mum)]
Facts:
The Assessee, a US resident, earned income from long-term capital gains from the sale of shares ...
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Mere typographical/human error committed by the assessee cannot cost them payment of excess tax
Mere typographical/human error committed by the assessee cannot cost them payment of excess tax
Powers of Commissioner of Income-tax u/s 264 of the Income-tax Act, 1961 it to prevent miscarriage of justice being rendered i.e. the Revenue is sought to ...
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Roll out of ‘AIS for Taxpayer’ Mobile App
Roll out of 'AIS for Taxpayer' Mobile App
ITD has launched a mobile app ‘AIS for Taxpayers’ to enable taxpayers to view their info as available in Annual Information Statement(AIS)/Tax Information Summary(TIS).
This will provide enhanced taxpayer service & ease of ...
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Request for extension of time period for filing of Form CSR-2 for the financial year ended March 31,2022 without levying additional fee : ICSI
Request for extension of time period for filing of Form CSR-2 for the financial year ended March 31,2022 without levying additional fee : ICSI
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ITAT remits the issue back in case of delay in filing appeal of 9 years, in absence of Proper Intimation u/s 143(1)
ITAT remits the issue back in case of delay in filing appeal of 9 years, in absence of Proper Intimation u/s 143(1)
M.K. Hotels & Resorts Ltd. (I.T.A. No.57/Asr/2021)
Facts:
The return was processed u/s 143(1) of Income Tax Act and ...
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Petitioner cannot be denied GST Refund because of allegations of any fake credit availed by its supplier: High Court
Petitioner cannot be denied GST Refund because of allegations of any fake credit availed by its supplier: High Court
The high court held that the allegations of any fake credit by the supplier cannot be the ground for rejecting the ...
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Software/technical error ground can be considered by appellate authority: Bombay High Court
Software/technical error ground can be considered by appellate authority: Bombay High Court
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
BENCH AT AURANGABAD
1039 WRIT PETITION NO.11908 OF 2022
M/S MEERA MEDICAL AND GENERAL STORES THROUGH ITS
PROPRIETOR MININATH SANJAY KAWADE
VERSUS
THE COMMISSIONER OF ...
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When the Assessing Officer has taken up the assessment for examination after three or four years from the relevant financial year, no material evidence may be available on the land to show that the assessee has cultivated as claimed. AO has to rely on other records: ITAT
When the Assessing Officer has taken up the assessment for examination after three or four years from the relevant financial year, no material evidence may be available on the land to show that the assessee has cultivated as claimed. ...
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Income reflected in 26AS after I filed my Income Tax Return – How to rectify it now?
Income reflected in 26AS after I filed my Income Tax Return - How to rectify it now?
Query]
I have, at the advice of the team of a broker regarding the bifurcation of the portfolio, agreed to the sale of 115 ...
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Explanation 2 to section 263 inserted w.e.f. 01.06.2015 is prospective and applicable with effect from 1st June, 2015.
Explanation 2 to section 263 inserted w.e.f. 01.06.2015 is prospective and applicable with effect from 1st June, 2015.
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AO cannot change the valuation method from DCF to NAV: ITAT Chennai.
AO cannot change the valuation method from DCF to NAV: ITAT Chennai.
M/s. Brio Bliss Life Science P Ltd. (ITA. No: 3067/Chny/2019 Ltd)
Facts:
AO noticed that during the year under consideration the assessee company has received share premium of Rs. ...
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Karnataka HC directs Dept. to follow procedure prescribed in Circular to allow ITC for bonafide mistakes in returns for FY 19-20 as well
Karnataka HC directs Dept. to follow procedure prescribed in Circular to allow ITC for bonafide mistakes in returns for FY 19-20 as well
Wipro Ltd. v. Assistant Commissioner of Central Taxes
The petitioner committed error in showing the wrong GSTIN number ...
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Delhi High Court set aside Section 148A(d) order passed without considering reply of Assessee
Delhi High Court set aside Section 148A(d) order passed without considering reply of Assessee
IN THE HIGH COURT OF DELHI AT NEW DELHI
Date of decision: 01.02.2023
W.P.(C) 1244/2023
ASHOK KUMAR GARG ...
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Reassessment proceedings under section 148 of Income-tax Act, 1961 cannot be initiated merely for verification of the information reflected on the Insight Portal.
Reassessment proceedings under section 148 of Income-tax Act, 1961 cannot be initiated merely for verification of the information reflected on the Insight Portal.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION NO. 1798 OF 2022
Digi1 Electronics ...
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e-Verification Scheme of CBIT is another initiative facilitating voluntary compliance
e-Verification Scheme of CBIT is another initiative facilitating voluntary compliance
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