No addition on account of sale of penny stock, if no direct involvement of the assessee: Bombay HC
No addition on account of sale of penny stock, if no direct involvement of the assessee: Bombay HC Tag: Penny…
Income Tax
Sec 142(1) and Sec 148 cannot operate concurrently: ITAT Dehradun
Sec 142(1) and Sec 148 cannot operate concurrently: ITAT Dehradun Uttrakhand Poorv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT…
Recording of transaction in the books is important in determining the taxation: ITAT
Recording of transaction in the books is important in determining the taxation: ITAT Facts: During the year under…
No Audit if the turnover is below Rs. 10 Cr: Confusion & Clarification
No Audit if the turnover is below Rs. 10 Cr: Confusion & Clarification Query 1] As per Sec…
Inflated cash sales not commensurate with earlier year sales cannot be the basis of addition U/s 68
Inflated cash sales not commensurate with earlier year sales cannot be the basis of addition U/s 68 Mumbai ITAT…
Bombay HC quashed notice issued under section 148 on wrong facts and also the subsequent assessment order
Bombay HC quashed notice issued under section 148 on wrong facts and also the subsequent assessment order The copy…
Demand notices based on GSTR 2A and GSTR 3B ITC discrepancies cannot be upheld without investigating the supplier whose invoices are missing from GSTR 2A.
Demand notices based on GSTR 2A and GSTR 3B ITC discrepancies cannot be upheld without investigating the supplier whose invoices…
Whether its processing under section 143(1)(a) or assessment U/s 143(3), PF / ESCI delayed payment is not allowable as deduction: ITAT Delhi
Whether its processing under section 143(1)(a) or assessment U/s 143(3), PF / ESCI delayed payment is not allowable as deduction:…
No penalty under section 271(1)(c) if disallowance is made suo motu by the Assessee
No penalty under section 271(1)(c) if disallowance is made suo motu by the Assessee ITAT Delhi has recently held that…
Assessment order passed without granting personal hearing quashed by Bombay High Court
Assessment order passed without granting personal hearing quashed by Bombay High Court Hon’ble Bombay High Court assessment order where…
Artificial Intelligence and Strong Database to drive Income Tax Department
Artificial Intelligence and Strong Database to drive Income Tax Department “About 1,00,000 notices were sent… …By March 2024, this entire…
Deferred shares are akin to ordinary shares, transfer pricing adjustment is upheld: ITAT
Deferred shares are akin to ordinary shares, transfer pricing adjustment is upheld: ITAT Facts: 1. The case involved the…
Compliance Calendar for Aug- 23
Compliance Calendar for Aug- 23 INCOME TAX ▪ 7th Aug 2023- Due date for payment of TDS/TCS for the month…
Renting of Immovable Property and other services by Director to the Company
Renting of Immovable Property and other services by Director to the Company Services provided by director of a company or…
Statutory and Tax Compliance Calendar for August 2023
Statutory and Tax Compliance Calendar for August 2023 S. No. Statue Purpose Compliance Period Due Date Compliance Details 1…
ITR Return filing statistics of Individuals
ITR Return filing statistics of Individuals The copy of the order is as under: WhatsApp Image 2023-08-01 at…
Withdrawal of registration of trust cannot be retrospective: ITAT Mumbai
Withdrawal of registration of trust cannot be retrospective: ITAT Mumbai Heart Foundation of India v. CIT (Mum.)(Trib.) (ITA…
Advisory: e-Invoice Exemption Declaration Functionality Now Available
Advisory: e-Invoice Exemption Declaration Functionality Now Available Dear Taxpayers, 1.GSTN is pleased to inform you that the e-Invoice Exemption Declaration…
