Day: April 10, 2023
No Penalty leviable u/s 271C on mere delay in remittance/deposit of the TDS after deduction subject to provisions of Section 201(1A) and Section 276B – Supreme Court ABCAUS Case Law Citation:ABCAUS 3703 (2023) (04) SC Important Case Laws relied upon by parties:Lakshadweep Development Corporation Ltd. Vs. Additional Commissioner …
Sale of Agricultural land converted into commercial land held non taxable as agricultural operations were continued – SC dismisses SLP of Income Tax Department ABCAUS Case Law Citation:ABCAUS 3702 (2023) (04) SC Important Case Laws relied upon by parties:CIT vs Murali Lodge (1992) 194 ITR 125 (Ker)CWT vs. …
Income Tax assessment order passed u/s 143(3) supports that party was not bogus, very much existed and carried out business – ITAT ABCAUS Case Law Citation:ABCAUS 3701 (2023) (04) ITAT In the instant appeal, the Revenue had challenged the order of CIT(A) in deleting disallowance made by the …
Acceptance of certain assignments by the Concurrent Auditor of Bank Branches – ICAI clarification ICAI has issued an advisory on the issue of acceptance of certain assignments by the Concurrent Auditor of Bank Branches. ICAI has issued its members to take note of the FAQs relating to professional …