Month: April 2023
Section 69 & 115BBE not applicable on excess stock generated out of business income ABCAUS Case Law Citation:ABCAUS 3704 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the action of Assessing Officer (AO) by considering the disclosure …
New Logo of SEBI unveiled. new logo retains traditional blue colour palette while also reflecting the aspiration of a new and modern nation New Logo of SEBI SEBI Press Release Securities Market regulator, SEBI has a new logo from today. The new logo was unveiled at …
ICAI CPE Hours requirements to be Calendar year wise from 2023 onwards Granting of 4 Structured CPE hours in online mode through Digital Learning Hub and compliance of CPE Hours requirements Calendar year wise from calendar year 2023 onwards As per ICAI Announcement, ICAI has made some important …
GPF interest rate to be 7.1% from 1st April 2023 to 30th June 2023 MINISTRY OF FINANCE(Department of Economic Affairs) NOTIFICATION New Delhi, the 10th April, 2023 F. No. 5(3)-B(PD)/2023.—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity …
No penalty u/s 271C on mere delay in deposit of TDS after deduction – Supreme Court No penalty can be levied u/s 271C of the Income Tax Act 1961 on mere delay in deposit of TDS after its deduction – Supreme Court In a recent judgment, the Hon’ble …
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 …
Payment made by family member for purchase of new property not a bar to assessee in claiming exemption u/s 54F. No one to one co-relation is essential and investment in the name of assessee made within stipulated time is entitled to exemption – ITAT ABCAUS Case Law Citation:ABCAUS …
Arbitration award paid by sale of property not cost of improvement – Supreme Court holds assessment order as erroneous and prejudicial ABCAUS Case Law Citation:ABCAUS 3699 (2023) (04) SC Important Case Laws relied upon by parties:Malabar Industrial Co. Ltd. vs. CIT (2000) 2 SCC 718 (2000) 243 ITR …