Month: May 2023
CBIC extends due date for filing various GST Returns in the State of Manipur In view of the violence in Manipur State, the CBIC has extended the time limit for filing various GST returns in the State of Manipur GSTR-1 The time limit for furnishing the details of …
Excel utilities of ITR 1, ITR 2, ITR-3 and ITR 4 for AY 2023-24 are available for filing. Download Link CBDT has made available Excel utilities of ITR 1 and ITR 4 for AY 2023-24 at e-filing portal for filing. The applicability of ITR Utility and download Link …
Central Board of Direct Taxes (CBDT) has issued guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2023-24. The guidelines prescribes the criterions and procedures to be observed for the compulsory selection of income tax returns for complete scrutiny during the financial year 2023-24. CBDT …
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 …
Penalty u/s 272A(1)(d) deleted as counsel misled by filing inaccurate return and not informed of assessment and penalty notices ABCAUS Case Law Citation:ABCAUS 3750 (2023) (05) ITAT Important Case Laws relied upon:Triumph International Finance India Ltd vs DCIT In the instant case, the assessee had challenged the order …
Gain on sale of fixed assets was not taxable under income tax act as sale consideration was reduced from block of assets ABCAUS Case Law Citation:ABCAUS 3749 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition …
CBDT has notified new Income Tax Rule 133 for furnishing details of TDS u/s 194BA in quarterly TDS Statements . Salary Certificate Form 16 revised form AY 2024-25 The CBDT has notified the Income-tax (Fifth Amendment) Rules, 2023 prescribing furnishing details of TDS u/s 194BA in the quarterly …