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CIT empowered to exercise power u/s 263 over penalty orders passed u/s 271(D) and 271D by the Joint Commissioner of Income Tax. In a recent judgment, Hon’ble Punjab and Haryana High Court has held that CIT is empowered to exercise jurisdiction u/s 263 over penalty orders passed u/s …

Reopening notice u/s 148 and order u/s 148A(d) quashed as it was issued by Jurisdictional AO and not by a Faceless AO In a recent judgment, Hon’ble Bombay High Court has quashed notice u/s 148 and order u/s 148A(d) as they were issued by the Jurisdictional Assessing Officer …

Wrong amount of income accumulation mentioned in Form-10 due to clerical error – ITAT deleted addition made by AO  In a recent judgment, ITAT Guwahati has deleted addition made due to wrong amount of income accumulation u/s 11(2) was mentioned in Form 10 due to clerical error and …

Once a finding of intent to avoid payment of tax recorded, the appellate authority before allowing appeal bound to reverse said finding of fact. In a recent judgment, Hon’ble Allahabad High Court has held that once the GST authorities have recorded a finding of fact that there was …

CBDT extends cut off date for investment by Twelve sovereign wealth funds / Pension Funds from 31st March 2024 to 31st March, 2025. CBDT has issued Notifications whereby cut off date for investment by twelve Sovereign Wealth Funds / Pension Funds has been extended for claiming exemption u/s …

Appeal against inadequacy of sentence passed by special court in income tax prosecution cases dismissed by High Court  In a recent judgment, Hon’ble Karnataka High Court has dismissed the appeal filed by the Income Tax Department against inadequacy of sentence passed by special court in prosecution cases under …

ICSI launches CS Mitr Scheme to give incentive for getting student registered in Executive Programme ICSI has launched CS Mitr Scheme. Company Secretaries Course is a professional course conducted in three stages, that is, Foundation Programme, Executive Programme and Professional Programme. Under C S Mitr Scheme an incentive shall be payable @ …

CPC order u/s 143(1) is appealable and hence the doctrine of merger with order u/s 143(3) do not arise – ITAT In a recent judgment, ITAT Chennai has held that CPC order u/s 143(1) is appealable and hence the doctrine of merger with order u/s 143(3) do not …

Under GST Act, there is no specific provision which bounds selling dealer to disclose route to be taken during transportation of goods – High Court In a recent judgment, Hon’ble Allahabad High Court has held that  under the GST Act, there is no specific provision which bounds the …

Restrictions on use of words Nidhi Limited unless declared as such under section 406(1). Nidhi (Amendment) Rules 2024 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 16th July, 2024 G.S.R. 413(E).—In exercise of the powers conferred by sub-section (1) of section 406 read with sub-sections (1) and (2) …