Day: February 28, 2024
Addition u/s 40A(3) deleted- CBDT can not impose new condition for grant of benefit which are not provided in Act or Rules – ITAT In a recent judgment, ITAT has deleted addition u/s 40A(3) towards cash purchases observing that Income Tax authorities can’t imposed new condition for grant …
GST Registration may take 30 days in some Aadhaar authentication cases for detailed verification based on risk profile- GSTN Advisory Under Rule 9 of Central Goods and Services Tax Rules, 2017, the application in Form REG-01 for registration under GST shall be forwarded to the proper officer who shall …
Assessee mislead by claiming deduction for Bad debts written off when in fact at the same time it treated the same as liabilities under the head ‘provisions’ in the balance sheet. In a recent judgment, Hon’ble High Court has dismissed a Writ Petition challenging the notice u/s 148 …
Prosecution u/s 276B rws 278AA quashed by High Court as delay in depositing TDS was due to maternity leave of the staff and subsequent conduct of the assessee In a recent judgment, Hon’ble High Court has quashed the prosecution u/s 276B / 278AA launched by the Income Tax …
Penalty u/s 272B for non-quoting of PAN deleted as show cause notice u/s 274 did not specified default done by the assessee In a recent judgment, ITAT has deleted Penalty u/s 272B for non-quoting PAN as show cause notice issued u/s 274 did not clearly specified default done …