Month: June 2024
TCS Payable not hit by section 43B as it can not be debited in Profit and Loss account and claimed as deduction – ITAT In a recent judgment, the ITAT Amritsar has held that TCS Payable is not hit by the provisions of section 43B of the Income …
Sale of scrap not generated from a manufacturing/mechanical process not liable to TCS u/s 206C of the Act although to be liable seller need not be a manufacturer itself – ITAT In a recent judgment, the ITAT Cochin has held that a seller is liable to deduct TDS …
Why would a CA dissuade an assessee from filing appeal / pursuing legal remedy granted to him under the statute – ITAT refused to condone the delay in filing appeal. In a recent judgment, the ITAT Surat has refused to condone the delay in filing appeal on the …
Penalty u/s 270A for bogus claim of deduction under Chapter VIA upheld by ITAT In a recent judgment, the ITAT Pune has upheld the Penalty u/s 270A and 271(1)(c) for bogus claim of deduction under Chapter VIA ABCAUS Case Law Citation:ABCAUS 4075 (2024) (06) ITAT In the instant …
Merely because word “provision” is used it cannot be said that the same is a provision – ITAT In a recent judgment, the ITAT Cuttack has held that merely because word “provision” is used while making the entry in the books of accounts, it cannot be said that …
Affidavits, if credible and corroborated by other evidences, can be sufficient to explain the source of cash deposits -ITAT In a recent judgment, the Hon’ble Ahmedabad ITAT has held that affidavits, if credible and corroborated by other evidences, can be sufficient to explain the source of cash deposits. …
Show cause notice for penalty u/s 270A not specifying limb i.e. mis-reporting or under-reporting was bad in law – High Court In a recent judgment, the Hon’ble Delhi High Court has held that show cause notice for penalty u/s 270A not specifying limb i.e. mis-reporting or under-reporting was …
Section 202 Cr.P.C. not prescribe manner of holding enquiry. Benami Act summon upheld In a recent judgment, the Hon’ble Allahabad High Court has held that Section 202 Cr.P.C. does not prescribe the manner of holding an enquiry under this provision. The summoning order under Benami Act passed after …
J&K Bank On-line Application For Empanelment Of Chartered Accountant/Cost Accountants Firms As Concurrent Auditors For The Year 2024-25 : Last date is 22.06.2024 How to Register The eligible Chartered /Cost Accountant Firms are required to apply ON-LINE through bank’s website. No other means/ mode of Application/Registration will be …
CBDT amends jurisdiction of DIT(Intelligence & Criminal Investigation) Lucknow & Kanpur MINSTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 5/2024 New Delhi, the 6th June, 2024 S.O. 2209(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, …
