Compliance Calendar for May’ 2024
Compliance Calendar for May’ 2024 INCOME TAX ▪ 07th May 2024- Due date for payment of TCS/ TDS for…
Income Tax
Guidelines for compulsory selection of returns for Complete scrutiny for FY 2024-25
Guidelines for compulsory selection of returns for Complete scrutiny for FY 2024-25 The copy of the order is as…
Notice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in law: Bombay HC
Notice issued U/s 148 by Jurisdictional Assessing Officer (JAO) & not by Faceless Assessing Officer is invalid and bad in…
Monetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment
Monetary limit fixed for assessment to be done by ACIT won’t preclude jurisdictional AO to initiate reassessment Recently, Allahabad…
The jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may exercises jurisdiction over other states.
The jurisdiction of a High Court is not dependent on the location of the ITAT as one Bench of may…
NEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply]
NEW TAX REGIME: NO TAX ON INCOME OF RS. 7 LAKH* [* Terms & Condition Apply] Every individual with income…
Mode & Way to form HUF
Mode & Way to form HUF How to form HUF is one of the most common question by the…
Validity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO
Validity of assessment framed u/s 143(3) vis a vis issuance of notice U/s 143(2) by non- jurisdictional ITO Here…
Addition of Rs.344.55 Cr during assessment proceeding with less than 72 Hours to reply to SCN: Assessment quashed by Bombay HC for de-novo consideration by AO.
Addition of Rs.344.55 Cr during assessment proceeding with less than 72 Hours to reply to SCN: Assessment quashed by Bombay…
Hon’ble SC upheld strict adherence to the Time Limit for Refunds
Hon’ble SC upheld strict adherence to the Time Limit for Refunds Recently Hon’ble Supreme Court enunciated the following principles…
Filing of Form MSME- 1
Filing of Form MSME- 1 As per section 405(1) of the Companies Act, 2013 and as per para 3 of…
Notional interest income cannot be taxable under the real income principle: Mumbai ITAT
Notional interest income cannot be taxable under the real income principle: Mumbai ITAT ACIT verses Kesar Terminals and Infrastructure…
Excessive or unreasonable salary, is a sine qua non in invoking the provision of Sec 40A(2)(b): ITAT Ahmedabad
Excessive or unreasonable salary, is a sine qua non in invoking the provision of Sec 40A(2)(b): ITAT Ahmedabad …
Whether weekends can be counted for the purpose of period for which notice is given?
Whether weekends can be counted for the purpose of period for which notice is given? The Bombay high court…
Whether proceedings can be continued against the legal representatives in case of default committed by a deceased?
Whether proceedings can be continued against the legal representatives in case of default committed by a deceased? The issue before Nagpur ITAT was in…
Whether an assessment of a Non-Resident Indian (NRI) can be reopened when all investments were made from an NRE account and the NR has failed to file its return of income
Whether an assessment of a Non-Resident Indian (NRI) can be reopened when all investments were made from an NRE account…
Penalty of Rs. 16.09 lakhs for not reporting dues of 18.58 Lakh in MSME – I
Penalty of Rs. 16.09 lakhs for not reporting dues of 18.58 Lakh in MSME – I According to the provisions of the…
Additions cannot be made based on profit assumptions: Punjab & Haryana HC
Additions cannot be made based on profit assumptions: Punjab & Haryana HC M/s Shree Digvijaya Woollen Mills Ltd., Amristar…
