Author: administrator
NFAC order should be a speaking one, with adjudication on assessee’s submissions and applicability of laws therein – ITAT In a recent judgment, ITAT has laid down that order of NFAC should be a speaking one, with adjudication on assessee’s submissions and applicability of laws therein. The thought …
ITD (West Bengal & Sikkim), invites empanelment of Cost Accountants u/s 142(2A) for FY 2024-2026. The Income Tax Department (West Bengal & Sikkim), Patna has issued a notice inviting applications from Cost Accountants for empanelment u/s 142(2A) of the Income Tax Act, 1961 for the period beginning from …
Director’s remuneration allocation in ratio of turnover upheld for deduction u/s 80IA as director’s involvement was minimal In a recent judgment, ITAT has upheld the allocation of Directors remuneration in the ratio of turnover for deduction u/s 80IA as directors involvement was minimal. ABCAUS Case Law Citation:ABCAUS 3927 …
Excel Utilities of ITR-1, ITR-2, ITR-4 ITR-6 and ITR-7 & Offline Utilities for ITR-1, ITR-2, ITR-4 and ITR 6 for AY 2024-25 available for filing. CBDT in March 2024 has notified all income tax returns (ITRS) forms ITRs 1 Sahaj ITR-2, 3, ITR 4 Sugam, ITR-5, ITR-6 and …
Will you be arrested if fake bank note is recovered from you? Often, the question is asked by a common person that “will I be arrested if fake bank notes are recovered from me? The answer is simple, No, as mere possession of a forged note does not …
New Personal Tax Regime made default one. Consequence and precautions to be taken by assessee before filing ITR for AY 2024-25 who wish to follow old tax regime. The Finance Act 2020 had introduced Personal Tax Regime under section 115BAC of the Income Tax Act, 1961 (the Act) …
Requirement of company secretary at Power Grid Infrastructure Investment Trust Engagement of Eligible & Experienced Company Secretary Professional (on contract) for IPAs of the PGInvIT Power Grid Infrastructure Investment Trust (PGInvIT/Trust), is a listed business trust set up under SEBI (Invit) Regulations and is sponsored by Power Grid …
AMC charges not fee for technical services – No ITAT deletes disallowance u/s 40(a)(ia) In a recent judgment, ITAT has deleted disallowance u/s 40(a)(ia) holding that payment of AMC charges to a foreign company is not a fee for technical services and no tax at source is deductible …
Mere higher cash deposits during demonization period does not make explanation of cash sales as bogus and unsustainable – ITAT In a recent judgment, ITAT has deleted additions holding that merely that certain cash deposits were made by assessee during demonization period and such deposits were on a …
Additions based on statement recorded u/s 132(4) without considering Retraction Affidavit with evidences deleted In a recent judgment, ITAT has deleted additions which were based on only statement recorded u/s 132(4) and without taking note of the Retraction Affidavit filed by the assessee with relevant evidences. ABCAUS Case …