Author: administrator
CBDT Instruction No. 20/2003 regarding timely disposal of appeals is also applicable to faceless regime – ITAT In a recent judgment, ITAT Raipur held that CBDT Instruction No. 20/2003 related to timely disposal of appeals is also applicable to faceless regime. The ITAT set aside the appellate order …
CBDT extends condonation of delay in filing return for claiming deduction u/s 80P for AY 2023-24 F. No.173/92/2024·ITA-1Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes Circular No 14/2024 New Delhi, the 30th October, 2024 Sub: – Condonation of delay under clause (b) of sub-section (2) …
Unexplained credits in bank statements are taxable under section 69 – High Court In a recent judgment, Hon’ble Madras High Court has held that unexplained credits in bank statements are taxable under section 69 as this provision applies to unexplained investments that are not recorded in books of …
Books of accounts regularly maintained can not be rejected for mere non compliance of Rule 6F – ITAT In a recent judgment, ITAT Chennai has held that merely quoting non compliance of Rule 6F and section 145(3) of the Act, the AO cannot reject books of accounts regularly …
Centralized Electronic Listing & Auction Platform for Sale of Assets under Liquidation Process Regulation 33 (1) of the IBBI (Liquidation Process) Regulations, 2016 (Liquidation Regulations) provides that, “The liquidator shall ordinarily sell the assets of the corporate debtor through an auction in the manner specified in Schedule I.” …
GSTN Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Ladakh GSTN has issued ad advisory for biometric-based aadhaar authentication and document verification for GST Registration Applicants of Ladakh as under: This is to inform taxpayers about recent developments concerning the application process for …
Capital generation capability not profit generation ability to be seen for investment – ITAT deleted addition u/s 68 In a recent judgment, ITAT Delhi deleted addition u/s 68 and held that tax authorities erred in believing that new investment can be made only on the basis of profit …
In case of loss of vehicle, the Road Tax authorities have power to write off the demand from the date the vehicle is lost In a recent judgment Hon’ble Allahabad High Court noted that in case the petitioner establishes the loss of vehicle, the authority has the power …
CBIC extends date to implement the Sea Cargo Manifest and Transshipment Regulations (SCMTR) 2018 at few ports MINISTRY OF FINANCE(Department of Revenue) New Delhi, the 30th October, 2024 Notification No. 74/2024-Customs (N.T.) G.S.R. 679(E).—In exercise of the powers conferred by section 157, read with sections 30, 30A, 41, …
ITAT followed recent decision of High Court to held that approval u/s 151 by JCIT by merely recording as ‘yes’ was bad in law. In a recent order, ITAT Delhi following a recent decision of the High Court held that approval u/s 151 by JCIT by merely recording …
