• Income Tax

Normal business advances adjusted against sale bills cannot be added u/s 68 of Income Tax Act

4 months ago

Advances received in normal course of business and adjusted against sale bills cannot be added u/s 68 of the Income…

  • Income Tax

Faceless mechanism for reopening include Central & International Tax charges

4 months ago

Faceless mechanism for income escaping assessment would not exclude the Central charges and International Taxation charges from its application -…

  • Income Tax

Ground not adjudicated by 1st appellate authority cannot be decided in 2nd appeal

5 months ago

Ground not adjudicated by first appellate authority or ground not originating from first appellate order cannot be decided in second…

  • Income Tax

COVID-19 amounted to a force majeure event – HC directs condonation of delay in filing ITR

5 months ago

High Court directed ITD to consider condonation of delay in filing ITR for four years as the COVID-19 pandemic constituted…

  • SEBI

SEBI revises its regulation on additional incentives to Mutual Fund distributors

5 months ago

SEBI revises its regulation on additional incentives to Mutual Fund distributors for onboarding new individual investors from B-30 cities and…

  • Income Tax

CBDT 2nd NUDGE initiative for voluntary compliance in respect of Foreign Assets

5 months ago

CBDT to launch 2nd NUDGE initiative to strengthen voluntary compliance in respect of Foreign Assets The CBDT is all set…

  • GST

Merely for wrong PIN code of consignor/ consignee goods can’t be seized u/s 129(3)

5 months ago

If address of consignor or consignee is correct, merely for wrong PIN code, the proceedings u/s 129 can not be…

  • Income Tax

Notice u/s 143(2) void if type of scrutiny not mentioned i.e. limited, complete or compulsory manual

5 months ago

Notice u/s 143(2) without specifying whether it is a limited scrutiny or a complete scrutiny or a compulsory manual scrutiny…

  • Income Tax

Once unaccounted income is admitted & attains finality, no protective addition can be made

5 months ago

Once unaccounted income is admitted and issue attains finality, no addition can be made on a protective basis for the…

  • Income Tax

Condonation of delay in filing Form 10B – ill-health of executive trustee, a bonafide reason

5 months ago

Condonation of delay in filing Form 10B/ITR. ill-health resulting in demise of executive trustee was a bonafide reason In a…