Day: May 24, 2023

  CBDT extends due date for applying for renewal / grant of provisional registration by Charitable Trusts to 30.09.2023. Failure to apply made such trusts liable to additional taxation on accreted income u/s 115TD   CBDT has issued Circular No. 6 of 2023 dated 24th May, 2023 giving …

Penalty u/s 271D for violation of Section 269SS can not be escaped by establishing genuineness or bona fides of the transactions – ITAT ABCAUS Case Law Citation:ABCAUS 3752 (2023) (05) ITAT Important Case Laws relied upon:Hareshkumar Bechardas Patel Vs. Jt. CIT (2019) 69 ITR 73 (SN) (Ahd.) (Trib.)ITO …

Assessee committed fraud by applying registration u/s 12AA without surrendering earlier PAN issued as firm in the very same name – High Court ABCAUS Case Law Citation:ABCAUS 3751 (2023) (05) HC The Petitioner assessee had challenged the assessment order passed making addition towards unexplained money u/s 69A of …

50 percent expenditure allowed from Consultancy services without proof of expenses in view of the provisions of section 44ADA ABACUS Case Law CitationABCAUS 3350 (2020) (07) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the order of the AO …