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Unless it is shown that money withdrawn from bank was utilized for some other purpose, no addition can be made merely because there was a time gap between a withdrawal and re-deposit of money In a recent judgment, the ITAT Allahabad has held that unless the Revenue can …
Foreign Contribution (Regulation) Amendment Rules, 2025. List of documents to be enclosed to applications revised. The Ministry of Home Affairs has notified the Foreign Contribution (Regulation) Amendment Rules, 2025 to amend the Foreign Contribution (Regulation) Rules, 2011. The amended rules shall become affective from 26th may 2025. The …
CBDT extends the due date of filing of ITRs for AY 2025-26 from 31.07.2025 to 15.09.2025 CBDT extends the due date of filing of ITRs for AY 2025-26 to 15.09.2025 for the class of assessees for which the due date for filing return of income was 31st July …
Onus lies on assessee to prove amount received from clients towards expenses were actually expended for the purpose intended. In a recent judgment, the ITAT Delhi has upheld that for amount received from clients towards expenses reimbursement, onus lies on assessee to prove that the expenses were wholly …
ITAT deleted addition u/s 68 in the case of Mrs Swapna Roy wife of deceased Subrata Roy of Sahara India for cash deposited in bank account In a recent judgment, the ITAT Delhi in the case of Mrs Swapna Roy wife of deceased Subrata Roy of Sahara India, …
Annamalai University invites Tenders from partnership CA firms for the Appointment of Chartered Accountant as Retainer/Consultant for Accounting & Tax Matters. Annamalai University (‘AU’), accredited with ‘A+’ Grade by NAAC in 2022, is one of India’s largest public residential University with 8 Faculties and 52 departments of study. …
Assessment order set aside as show cause notice was sent to the chartered accountant of the assessee who neither informed regarding notice nor filed any reply. In a recent judgment, Karnataka High Court set aside the assessment order as the show cause notice was sent to the chartered …
SEBI issues revised FAQ on Account opening by Persons with Disabilities, making digital KYC process inclusive and accessible The Hon’ble Supreme Court in its recent judgement, emphasized the need for equal and accessible inclusion of persons with disabilities for availing financial services and directed to ensure that the …
AO using the terms “underreporting” and “misreporting as a consequence of underreporting” loosely, showed he was unaware of the different connotations and their implications. In a recent judgment, ITAT Agra has deleted penalty under section 270A observing that the AO apparently used the terms “underreporting” and “misreporting as …
Waiver of late fee payable for delay in furnishing FORM GSTR-7 for June 2021 onwards Waiver of late fee payable u/s 47 of Delhi GST Act 2017 by any registered person, required to deduct tax at source for delay in furnishing return FORM GSTR-7 for the month of …
