Author: administrator

When revisionary order u/s 263 was quashed, consequential assessment order passed by AO cannot survive – ITAT In a recent judgment, ITAT Raipur has held when the order passed by the Pr. CIT u/s 263 was quashed by the Tribunal, the consequential assessment order passed by the A.O …

Banks are obliged to adopt restructuring process of MSME Loans on its own. Framework contained in the Notification dated 29.05.2015 is mandatory in nature – Supreme Court  In a recent judgment, Hon’ble Supreme Court has held that Banks are obliged to adopt restructuring process of MSME Loans on …

CIT must hold bare minimum inquiry before passing revisionary order u/s 263. The words “as he deems necessary”, do  not mean that PCIT has a choice either to make or not to make an enquiry. In a recent judgment, ITAT Chandigarh has held that it is incumbent upon …

Validity of assessment u/s 144/147 can be challenged in rectification Petition u/s 154 – ITAT In a recent judgment, ITAT Mumbai has held that validity of assessment order u/s 144/147 can be challenged in rectification Petition u/s 154 when there is a mistake apparent from record but also …

Bonafide belief that TDS was deducted and no additional tax was payable accepted by ITAT In a recent judgment, ITAT Mumbai has held that the submissions of the assessee, that she was under a bonafide belief that the tax at source was deducted properly and no additional tax …

Extension of due date of 31st July 2024 for filing ITR for AY 2024-25 – PIB Fact Check There has been a misleading social media post about extension of due date from 31st July 2024 to 31st August 2024 for filing ITR for AY 2024-25. PIB has checked …

Constitution of Principal and States benches of GSTAT – Amended Notification Ministry of Finance has issued an amended notification for Constitution of Principal and States benches of GSTAT. The amended notification supersede the previous notifications in this regard and applies with effect from the 1st day of September, …

With passing of order u/s 143(3) intimation u/s 143(1) got merged with the same and independently lost its force – ITAT  In a recent judgment, ITAT Delhi has held that when order under Section 143(3) is passed by the AO, the order of intimation under Section 143(1) of …

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Uttarakhand GSTN has issued an advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants in the State of Uttarakhand It has been advised to keep the following key points in mind during …

High Court stays ban on Chartered Accountant for professional misconduct due to non appointment of Chairperson in Appellate Authority ICAI In a recent judgment, Hon’ble Delhi High Court stayed ICAI notification removing the name of a chartered accountant for alleged professional misconduct as the office of the Chairperson …