Month: December 2024
Non deposit of tax deducted by deductor – ITAT directs AO to take action against deductor and tax credit allowed to assessee In a recent judgment, ITAT Cochin has given an important judgment on the issue of non credit of TDS due to mismatch with Form 26AS where …
RBI urges banks to reduce number of inoperative frozen accounts enabling mobile / e-KYC RBI urges banks to bring down the number of inoperative frozen accounts enabling updation of KYC through mobile/internet banking, Video Customer Identification Process, etc. As per RBI existing guidelines banks are required, among other …
AO whether obliged to decided pointwise objection of assessee in response to notice u/s 148A(b) – Supreme Court admits SLP of the assessee In a recent judgment, the Hon’ble Allahabad High Court had held that all merit objections raised by the assessee in response to a notice issued …
Addition on account of unexplained investment in construction of hotel building and undisclosed income from Lawn Garden bookings – ITAT dismissed appeal of the Income Tax Department In a recent judgment, ITAT Jaipur has upheld the deletion of additions of account of unexplained investment in construction of hotel …
Transfer/Promotion in the grade of CIT / Director of Income Tax CBDT has made 20 transfer/postings in the grade of Commissioner of Income Tax/Director of Income Tax on account of promotion/additional charge/others. Promotion Cases: One case Other cases: Lucknow: One caseDelhi: Six casesAgra: One caseKarnal: One caseMumbai: One …
Promotions/Transfer and postings in the grade of PCIT/Principal Director of Income Tax CBDT has made 23 Promotions/transfer/postings in the grade of Principal Commissioner of Income Tax/Principal Director of Income Tax on account of promotion/additional charge/others. Promotion Cases: One case Other cases: Delhi: Three casesMumbai: One caseAhmedabad: One caseGwalior: …
High Court directs return of passports to directors accused of tax evasion u/s 276C, 277 of income Tax Act 1961 In a recent judgment, the Hon’ble High Court of Madras has directed return of passports to directors of company accused of offences u/s 276C for willful attempt to …
Chartered Accountants guilty of misconduct on bringing disrepute to the profession whether or not related to his professional work – Delhi High Court confirms penalty in set aside proceedings In 2018 Supreme Court had over ruled the judgment of Delhi High Court and held that a Chartered Accountants …
CBDT Extends Due Date for Filing Return of Income in the case of an assessee who is required to furnish a report referred to in section 92E, for AY 2024-25 The due date for furnishing the return of income u/s 139(1) of the Income-tax Act,1961 (the Act) in …
