Day: July 1, 2024
Addition u/s 40A(3) for cash payment to labour for loading charges deleted by ITAT In a recent judgment, the ITAT Cuttack has deleted additions u/s 40A(3) for cash payments to labourers for loading charges holding that labourers out of common knowledge would not accept payments through banking channels …
Addition u/s 68 deleted as AO failed to find any discrepancy in details of creditors submitted by the assessee In a recent judgment, the ITAT Guwahati deleted penalty u/s 68 as the Assessing Officer (AO) failed to find any discrepancy in the details of creditors submitted. ABCAUS Case …
Jharkhand Rajya Gramin Bank – Empanelment of retired officers of banks as Concurrent auditors on contract basis Jharkhand Rajya Gramin Bank is inviting applications from retired officers of Bank for the post of concurrent auditors on contract basis, details of which are as under: 1) Name of the …
Book Profit u/s 115JB to be computed as per Profit & Loss Account prepared under Schedule III of the Companies Act, not on profit arrived on cash basis of accounting In a recent judgment, the ITAT Delhi has held that book profit u/s 115JB is to be computed …
