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CBDT Guidelines for compulsory selection of return for compulsory scrutiny during FY 2024-25   CBDT Guidelines for compulsory selection of returns for Complete Scrutiny during the financial year 2024-25 – Procedure for selection   CBDT has issued Guidelines for compulsory selection of return for complete scrutiny during FY …

High Court quashed reopening of assessment on the incorrect presumption that no return of income had been filed Re-assessment order u/s 147 quashed as reopening done on wrong assumption of non filing of return of income. In a recent judgment, Hon’ble Bombay High Court has quashed re-assessment order …

In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit of TDS – ITAT In a recent judgment, ITAT has held that in absence of mala fide intention bank should not be treated as assessee in default for …

Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain Writ Petition Whether bank account was fraudulently open in the name of assessee is question of fact. AABCAUS Case Law Citation:ABCAUS 3992 (2024) (05) HC In the instant …

Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs in exercise of the powers conferred under the Chartered Accountants Act, 1949, the Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980 established an Appellate …

Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In a recent judgment, the Hon’ble Supreme Court has held that Trade Tax Department was not justified in retaining refund amount beyond the stipulated period and then adjusting refund …

Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions of section 143(2) can not be triggered.  In a recent judgment, ITAT has held that notice issued under section 143(2) of the Act prior to filing of return …

Order u/s 148A(d) passed against non-existent entity is bad in eyes of law. Mere activation of PAN not give right to issue notice to a non-existent entity In a recent judgment, Hon’ble High Court has held that Order u/s 148A(d) passed against non-existent entity is bad in eyes …

Tax authorities not bound with provisions of section 44AE of the Act once assessee waived the option available In a recent judgment, ITAT has held that Tax authorities are not bound with provisions of section 44AE of the Act once assessee waived the option available to assess income …

Whether seized document is incriminating or not is definitely a findings of fact – High Court In a recent judgment, High Court has held that whether seized document is incriminating or not is definitely a findings of fact. Hard disk was not incriminating documents as its contents were …