An Overview of Recent Amendment in Tax Audit Report in Form No 3CD: CA Sahil Dhingra

Recent Posts

• Rejection of Books of Accounts: The profit estimation cannot be arbitrary or without any basis.
• CBDT Circular 05/2025 for Waiver of Interest levy in specified cases
• Compensation received for removing the nuisance should be treated as a capital receipt and hence not taxable: ITAT Mumbai
• Unaccounted amount of Rs 103 cr credited to the account of a rickshaw driver: ITAT deleted the addition
• Whether retraction of statement, without discrediting corroborative evidence, is insufficient to nullify additions under Sections 69A and 69C?
• GST: No adverse inference can be drawn against the purchasing dealer merely because the supplier’s registration was cancelled later
• Interest received in respect of delayed payment of compensation to be treated as accruals to the principal compensation amount 
• Scheme of Section 144B only requires service of a draft assessment order along with the SCN in case of eligible Assessee
• Mutual Fund Gains of Singapore Resident Not Taxable in India under DTAA: ITAT Mumbai
• Transfer of Depreciable Assets: Tax rate prescribed U/s 112 is applicable even if it is deemed to be taxed as short-term capital gains U/s 50.