Month: December 2023
CBDT issue guidelines / FAQs on TDS under section 194O on payments by e-commerce operators to e-commerce participants Section 194-O mandates that an e-commerce operator (ECO) shall deduct income-tax at the rate of one per cent of the gross amount of sale of goods or provision of service …
Extension of dates for issuing demand order u/s 73(10) of CGST Act 2017 for FY 2018-19 & 2019-20 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS Notification No. 56/2023- Central Tax New Delhi, dated the 28th December, 2023 …
Online empanelment of CA firms / LLPs firms with CAG for the year 2024-25 to be available on CAG website www.care.cag.gov.in from 05.01.2024 to 15.02.2024 Online Applications are invited from Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of …
During tenure as SCA/SA, an audit firm may be appointed as concurrent auditor of the same bank. Clarification regarding Guidelines issued by RBI for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (Excluding RRBs), UCBs and NBFCs (including HFCs) The RBI has issued a Circular …
No addition can be made on the basis of dumb papers seized in search without establishing any relation with the assessee – ITAT ABCAUS Case Law Citation:ABCAUS 3828 (2023) (12) ITAT Important Case Laws relied upon by parties:Clarity Gold Pvt. Ltd. v/s PICTGEM Mart India Pvt. Ltd. 306 …
When confirmation and affidavit admitting payments to assesse were filed then without examining persons giving affidavit and confirmation, the claim of the assessee cannot be brushed aside – ITAT In a recent judgment, ITAT has deleted addition made for cash deposit in bank account holding that when confirmation …
Income Tax Faceless Appeal Scheme 2020 – Commissioner (Appeals) is mandatorily required to allow request for personal hearing – ITAT ABCAUS Case Law Citation:ABCAUS 3826 (2023) (12) ITAT Important Case Laws relied upon by parties:Vijay v. State of Maharashtra & Ors. (2006) 6 SCC 28Bank of India Vs. …
Revision u/s 263 in the name of dead person illegal. Supreme Court dismisses SLP of Income Tax Department ABCAUS Case Law Citation:ABCAUS 3825 (2023) (12) SC In a recent judgment/order, Hon’ble Supreme Court has upheld the order of the Hon’ble High Court holding revision u/s 263 in the …
No re-opening notice could be issued to society after registration u/s 12A for earlier assessment years in terms of 3rd Proviso of section 12A(2) – SLP dismissed by Supreme Court ABCAUS Case Law Citation:ABCAUS 3824 (2023) (12) SC Important Case Laws relied upon by parties:Commissioner of Income-Tax (Exemptions) …
No prosecution under Black Money Act where details of foreign assets disclosed in revised return / return of earlier year. ABCAUS Case Law Citation:ABCAUS 3823 (2023) (12) AC Important Case Laws relied upon by parties:Sonali Auto Private Ltd. Vs. State of Bihar & Ors: 2017 SCC Online Pat …