• Income Tax

When foundation of reopening does not survive, no addition can be made for other issues

4 months ago

When foundation of reopening does not survive, no addition can be made in respect of other issues - ITAT In…

  • GST

GST Advisory & FAQs on Electronic Credit Reversal & Re-claimed Statement & RCM Liability

4 months ago

GSTN Advisory & FAQs related to Electronic Credit Reversal and Re-claimed Statement and RCM Liability/ITC Statement To ensure correct and…

  • Income Tax

Negligence of tax payer would not make exempt income taxable – ITAT

4 months ago

It is well settled that if any receipt cannot be subjected to tax being exempt under law, negligence of any…

  • GST

For a notice sent by GSTN Portal no inference may be drawn as to its actual service

4 months ago

Since UPGST Authorities unable to inform when notice sent by GSTN Portal may have been retrieved or downloaded, no inference…

  • Income Tax

Cash deposit of Rs. 250000 cr (credit) misread as crores by AO – Plea declined

4 months ago

High Court declines plea of assessee that Income Tax Department wrongly read amount of cash deposit of Rs. 250000 Cr…

  • Income Tax

Discontinuance of business of firm will not vest ownership of firm’s property with partners

4 months ago

Discontinuance of business of partnership firm will not result in vesting ownership of firm's property with individual partners for capital…

  • Income Tax

Release of seized jewellery/gold u/s 132B within 120 days is directory not mandatory

4 months ago

Stipulation of 120 days for release of seized jewellery/gold u/s 132B is directory not mandatory – Delhi High Court In…

  • ICAI

ICAI issues FAQs on key accounting implications arising from New Labour Codes

4 months ago

FAQs on key accounting implications arising from the New Labour Codes Recently, Government consolidated existing labour laws into four new…

  • Income Tax

Deduction u/s 80-IA(7) not allowed for delayed filing of audit report in Form 10CCB

4 months ago

Filing audit report in Form 10CCB within due date is mandatory. The assessee cannot claim deduction u/s 80-IA(7) he ground…

  • Income Tax

Is CSR expenditure is allowable under section 80G of Income Tax Act – ITAT says “Yes”

4 months ago

CSR expenditure of companies is allowable under section 80G unless fall under the two exceptions specified. In a recent judgment,…