Mere non-construction of property cannot be a ground to deny benefit u/s 54F : ITAT
Mere non-construction of property cannot be a ground to deny benefit u/s 54F : ITAT The case citation is…
Income Tax
Fine of Rs. 1 Lakh on Assessee for ‘Misconceived’ & ‘Mischievous’ submission in Reassessment writ petition
Fine of Rs. 1 Lakh on Assessee for ‘Misconceived’ & ‘Mischievous’ submission in Reassessment writ petition Madras High Court imposes…
Not everything said by a Judge when giving judgment that constitutes a precedent: Supreme Court
Not everything said by a Judge when giving judgment that constitutes a precedent: Supreme Court In his inimitable words, Hon’ble…
Capital Gain Exemption if the amount is used for Repayment of Housing Loan
Capital Gain Exemption if the amount is used for Repayment of Housing Loan Query 1] In the earlier issue of…
AO cannot reject the income estimated by the assessee by following the profit margin method, without first rejecting the books of accounts: ITAT Ahmedabad
AO cannot reject the income estimated by the assessee by following the profit margin method, without first rejecting the books…
Calcutta High Court set aside the order 148A(d) and 147 order and restored the matter in the stage of 148A(b)
Calcutta High Court set aside the order 148A(d) and 147 order and restored the matter in the stage of 148A(b)…
ITAT Jaipur bench deleted addition on account of cash deposited during demonetization out of cash sale
ITAT Jaipur bench deleted addition on account of cash deposited during demonetization out of cash sale ITAT Jaipur…
CBIC rolls out Automated Return Scrutiny Module for GST returns in ACES-GST backend application
CBIC rolls out Automated Return Scrutiny Module for GST returns in ACES-GST backend application This module will enable the officers…
E invoice limit reduced from 10 Crs to 5 Crs. w.e.f. 1st August 2023.
E invoice limit reduced from 10 Crs to 5 Crs. w.e.f. 1st August 2023. The copy of the order…
Department is not authorised to retain the amount paid by the petitioner without issuance of SCN even after 2 years have passed
Department is not authorised to retain the amount paid by the petitioner without issuance of SCN even after 2 years…
Assessing Officer is duty bound to explicitly record the reasons for reopening proceeding
Assessing Officer is duty bound to explicitly record the reasons for reopening proceeding This is a recent judgment of…
WHETHER PAST ITC CAN BE CLAIMED NOW UPON REVOCATION OF CANCELLED REGISTRATION?
WHETHER PAST ITC CAN BE CLAIMED NOW UPON REVOCATION OF CANCELLED REGISTRATION? This question is answered positively by Hon’ble Rajasthan…
Co-operative bank is entitled to claim deduction of bad debts provided in first part of section 36 (1) (viia) (a) @ 7.50% of total Income and same cannot be denied linking it to rural advances
Co-operative bank is entitled to claim deduction of bad debts provided in first part of section 36 (1) (viia) (a)…
Disallowance cannot be made in respect of donation made in an institution based on valid CBDT approval: ITAT Mumbai
Disallowance cannot be made in respect of donation made in an institution based on valid CBDT approval: ITAT Mumbai ITA…
Vaildity Deduction u/s 80P to credit cooperative society providing credit to its members is cooperative Bank
Vaildity Deduction u/s 80P to credit cooperative society providing credit to its members is cooperative Bank Deduction u/s 80P…
GSTN issues Updated Advisory on GST Invoice Reporting: 7 days Time Limit applicable for Invoices and Credit/Debit Notes also
GSTN issues Updated Advisory on GST Invoice Reporting: 7 days Time Limit applicable for Invoices and Credit/Debit Notes also …
ITAT Mumbai held that deduction u/s 36(1)(via) is to be allowed on the total outstanding advances at the end of each month considering the opening balances.
ITAT Mumbai held that deduction u/s 36(1)(via) is to be allowed on the total outstanding advances at the end of…
Guidelines for Special All-India Drive against fake registrations
Guidelines for Special All-India Drive against fake registrations Various modus operandi of obtaining such fake registrations have been detected…
