Month: June 2024
Size of the residential house is not a criteria for claiming exemption u/s 54F – ITAT In a recent judgment, the ITAT Delhi has held that size of the residential house is not a criteria for claiming exemption u/s 54F ABCAUS Case Law Citation:ABCAUS 4065 (2024) (06) ITAT …
ICAI to debar student taking mobile phones inside the examination hall for 5 years As per ICAI Announcement, it has decided to debar student taking mobile phones inside the examination hall for 5 years As per the policy of Examination Department of the Institute of Chartered Accountants of …
AO refused to accept Tax Audit Report as schedule were not signed by CA. High Court remanded the matter In a recent judgment, the Hon’ble High Court of Karnataka remanded the matter to Assessing Officer (AO) for fresh consideration where he refused to accept Tax Audit Report of …
Net Profit rate of 8% not applicable for audit case. Net Profit rate of 6% is reasonable for business of civil construction – ITAT In a recent judgment, the ITAT Patna has held that though in the non-audit case, Net Profit rate of 8% is considered as fair …
Change in explanation of assesseee due to change of council cannot be summarily brushed aside – ITAT In a recent judgment, the ITAT Raipur has held that the claim that explanation regarding the source of cash deposits in the assessee’s bank account as was advanced before the AO …
Agricultural income can not be doubted merely for not paying agricultural cess to Krishi Upaj Mandi – ITAT In a recent judgment, the ITAT Jodhpur has held that the agricultural income can not be disbelieved merely for not paying agricultural cess to Krishi Upaj Mandi ABCAUS Case Law …