Month: May 2024
Comparison Chart for Bank Fixed Deposit Interest rates of Public Sector and Private Sector Banks A comparison Chart for Bank Fixed Deposit Interest rates of Public Sector and Private Sector Banks would help investors to quickly make a choice of bank for best interest rate on their Fixed …
GST Form SRM-I enabled for manufacturers of Pan Masala and Tobacco. Form GST SRM-II will also be made available on the portal shortly. CBIC had issued Notification No. 04/2024 – Central Tax dated 05-01-2024 to seek information from taxpayers dealing in the pan masala and tobacco, khaini, jarda, …
Prosecution for late deposit of TDS stayed by High Court in view of judgment of the Hon’ble Supreme Court In a recent order, the High Court of Andhra Pradesh has stayed the prosecution for late/delayed deposit of TDS in view of judgment of the Hon’ble Supreme Court ABCAUS …
Unless, discrepancy is found in physical quantities, assessee agreeing to increase stock value does not amount to undisclosed stock u/s 69B taxable u/s 115BBE In a recent judgment, ITAT Chennai has held that unless discrepancy is found in physical quantities, of stock, assessee merely agreeing to increase stock …
CIT(A) is required to communicate the notice through the email id available in Form 35 of the appeal memo as per CBDT Notification No. 139/2021 In a recent judgment, the ITAT has held that CIT(A) is required to communicate the notice through the email id available in Form …
Section 144B(6)(viii) cannot be read to mean that opportunity of personal hearing may be granted only where the assessee specifically requests for the same In a recent judgment, the Hon’ble Allahabad High Court has again reiterated that provisions of section 144B(6)(viii) cannot be read to mean that opportunity …
CBDT releases new functionality in AIS for taxpayers to display status of information confirmation process in real-time. Taxpayers can now check whether their feedback is acted upon by the Source/Reporting Entities. The Annual Information Statement (AIS) is available to all registered Income Taxpayers through the compliance portal, accessible through …
No enduring benefit arises when software project was abandoned due to change in technology. Supreme Court dismisses SLP of Department In a recent case, the Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Revenue against the judgment of the Hon’ble High Court of Karnataka …
Punjab & Sind Bank Concurrent Audit Online Empanelment FY 2024-25 Punjab & Sind Bank Concurrent Audit application has been invited from interested Chartered Accountant Firm for Bank Branches for the Financial year 2024-25 The last date for submission of online application is 08.06.2024 Link to apply online Click …
AO was justified to estimate profits of civil construction @10 percent applying provisions of section 44BBB In a recent judgment, ITAT has held that Assessing Officer was justified in estimating profits of civil construction @10 percent applying provisions of section 44BBB when books were rejected and the assessee …