Author: administrator
Merely because of no response to notice u/s 133(6) in the manner the AO expected not a basis for making additions – ITAT In a recent judgment, ITAT Delhi held that merely because bank not responded to notice issued u/s 133(6) in the manner the AO expected cannot …
Interest paid on delayed payment of GST/VAT is compensatory and not penal in nature for allowability under section 37. In a recent judgment, ITAT Delhi has held that interest paid on delayed remittance of GST / VAT is compensatory and not penal in nature for the purpose of …
Once appeal of assessee is set aside by ITAT with certain directions, then the consequential proceedings are fresh proceedings – ITAT In a recent judgment, ITAT Delhi has held that once the appeal of the assessee is set aside by Tribunal with certain directions for reconsideration of the …
New facts surfaced during investigation and would not have become known but for investigation amounts to wilful suppression to evade tax – High Court In a recent judgment, Patna High Court has held that where facts surfaced during investigation were not earlier known to them and they would …
CBDT Circular fixing a time limit for making condonation application u/s 119(2)(b) of the Income Tax Act, 1961 (the Act) is illegal – Madras High Court In a recent judgment, Madras High Court condoned the delay in filing audit report Form 10-B observing that CBDT Circular fixing a …
Interest income to be excluded from gross receipts while computing percentage of Govt. finance for determining the exemption u/s 10(23C)(iiiab). In a recent judgment, ITAT Ranchi has held that interest income is not to be included in gross receipts of the society while computing 50% of Govt. financing …
NSDL latest e-TDS TCS RPU Version 5.7 from FY 2007-08 NSDL has revised the e-TDS TCS RPU utility for preparing of TDS/TCS returns. e-TDS/TCS RPU version 5.7 for Statement(s) from FY 2007-08 onwards has been released. Also e-TDS/TCS File validation utility (FVU) versions 2.188 for FY 2007-08 to FY 2009-10 …
RBI lays down revised rules for bank prepayment charges on all floating rate loan & advances sanctioned or renewed on or after January 1, 2026. Reserve Bank of India has issued RBI (Pre-payment Charges on Loans) Directions, 2025. These Directions shall apply to all commercial banks (excluding payments banks), co-operative …
Revised and up to date list of acceptable supporting documents for Aadhaar enrolment and update from 3rd July 2025. UIDAI has revised list of acceptable supporting documents for Aadhaar enrolment and updation. The Unique Identification Authority of India amended the Aadhaar (Enrolment and Update) Regulations, 2016 by notifying …
Addition u/s 36(1)(va) for delayed payment of EPF upheld holding that Supreme Court judgment imparts meaning to statute from the inception date. In a recent judgment, ITAT Patna upheld the addition under section 36(1)(va) for delayed payment of EPF holding that any interpretation of a statute by the …
