Day: August 1, 2024
Banks are obliged to adopt restructuring process of MSME Loans on its own. Framework contained in the Notification dated 29.05.2015 is mandatory in nature – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that Banks are obliged to adopt restructuring process of MSME Loans on …
CIT must hold bare minimum inquiry before passing revisionary order u/s 263. The words “as he deems necessary”, do not mean that PCIT has a choice either to make or not to make an enquiry. In a recent judgment, ITAT Chandigarh has held that it is incumbent upon …
Validity of assessment u/s 144/147 can be challenged in rectification Petition u/s 154 – ITAT In a recent judgment, ITAT Mumbai has held that validity of assessment order u/s 144/147 can be challenged in rectification Petition u/s 154 when there is a mistake apparent from record but also …
Bonafide belief that TDS was deducted and no additional tax was payable accepted by ITAT In a recent judgment, ITAT Mumbai has held that the submissions of the assessee, that she was under a bonafide belief that the tax at source was deducted properly and no additional tax …
Extension of due date of 31st July 2024 for filing ITR for AY 2024-25 – PIB Fact Check There has been a misleading social media post about extension of due date from 31st July 2024 to 31st August 2024 for filing ITR for AY 2024-25. PIB has checked …
