Day: October 17, 2024

Sale/purchase of jewellery increased substantially on 08.11.2016 after announcement of demonetization – ITAT deleted addition u/s 69A In a recent judgment, the ITAT Delhi Has deleted addition made u/s 69A observing that the sale and purchase of the jewellery was increased substantially after announcement of demonetization on 08.11.2016 …

There is no statutory requirement for an agriculturist to maintain books of accounts – ITAT In a recent judgment, the ITAT Allahabad has held that there is no statutory requirement for an agriculturist to maintain books of accounts and the insistence on documentary evidences of the nature required …

RBI exempted from TCS u/s 206C(1F) on purchase of motor vehicle  CBDT has exempted Reserve Bank of India from provisions of Tax Collection at Source (TCS) sub section (1F) of section 206C of Income Tax Act on purchase of motor vehicle for a value exceeding ten lakh rupees …