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Declaring surrendered income in PL Account as “Indirect Income” and reflected it in closing stock does not indicate any tax evasion. In a recent judgment, the Chandigarh ITAT has held that declaring surrendered income in PL Account as “Indirect Income” and enhancing closing stock does not indicate any …
It is incumbent upon AO to decide the case u/s 148A(d) on the basis of the material on record including the reply of the assessee – High Court In a recent judgment, the Himanchal Pradesh High Court has held that it is incumbent upon the Assessing Officer to …
CBDT Guidelines for Compulsory Selection of Returns for Complete Scrutiny during the Financial Year 2025-26 CBDT has issued guidelines dated 13.06.2025 for compulsory selection of returns for complete scrutiny during the financial year 2025-26 The Income tax Scrutiny are usually of two types, (i) limited scrutiny and the …
Notice of demand being part of assessment order is rectifiable u/s 154 of the Act for any apparent errors – ITAT In a recent judgment, the Patna ITAT has held that notice of demand is very much part of the assessment order and in case an error comes …
CBIC done way with requirement of quoting DIN on communications generated through the common portal of GST, which already bear RFN Generation and quoting of Document Identification Number (DIN) on any communication issued by the officers of the Central Board of Indirect Taxes and Customs (CBIC) to tax …
Reserve Bank of India (Lending Against Gold and Silver Collateral) Directions, 2025 RBI has issued directions on Lending Against Gold and Silver as Collateral securities. Currently, RBI has permitted lending against the collateral security (not prime security) of gold jewellery, ornaments and coins for meeting the short-term financing …
MCA Notifies the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2025 MINISTRY OF CORPORATE AFFAIRS NOTIFICAION New Delhi, the 6th June, 2025 G.S.R. 371(E).— In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 …
Chhattisgarh Housing Board invites RFP for appointment of CA firm for Internal Audit/Taxation/RERA work including preparations of final accounts Chhattisgarh Housing Board (CGHB) has invited RFP for appointment of Chartered Accountants Firm for Internal Audit/Taxation/RERA work including preparations of final accounts for FY-2025-26 & FY-2026-27. Head Office of …
Authorized Officer issuing warrant of authorization of search u/s 132(1) can not issue notice u/s 131(1A) post-search operation. In a recent judgment, the Allahabad High Court has held that the Authorized Officer who issued warrant of authorization of search u/s 132(1) can not issue notice u/s 131(1A) post-search …
Order denying ITC u/s 16(2) for non payment of GST by seller quashed by High Court holding that purchasing dealer cannot be left at the mercy of the selling dealer. Ina recent judgment, Allahabad High Court has quashed order denying ITC u/s 16(2) for non payment of GST …
