Day: August 30, 2024

Order u/s 263 was bad as CIT did not specify how he arrived at figure of excess depreciation allegedly claimed by the assessee In a recent order, Hon’ble Supreme Court has dismissed SLP against the order of the Hon’ble Bombay High Court upholding the ITAT that CIT did …

Limitation Period to pass revisionary order u/s 263 stood extended by TOLA 2020 In a recent judgment, Hon’ble Orissa High Court has upheld that limitation Period to pass revisionary order u/s 263 stood extended by TOLA 2020. Competence of the Legislature through Parliament to relax provisions in earlier …

RBI warns public of enticing and threating tactics used by fraudsters using name of RBI According to RBI, it has come to know that unscrupulous elements are using various methods to defraud members of the public by using the name of RBI in some capacity. A brief on …