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Addition u/s 69A deleted as there was no difference in the quantity of jewellery found during search and jewellery declared in the wealth tax return. In a recent judgment, ITAT Hyderabad deleted addition u/s 69A as Assessing Officer (AO) made addition only on the basis of value of …
It is incumbent upon AO to give full credit of TDS as per Form 26AS though full TDS could not be filled in the return of income – ITAT In a recent judgment, ITAT Lucknow has upheld the direction of the CIT(A) to AO to give full credit …
Penalty u/s 271DA deleted for receiving cash above Rs. 2 lakhs from farmers against sale of tractors. In a recent judgment, the ITAT Delhi has deleted penalty u/s 271DA holding that the assessee had bona fide reasons to receive cash over and above Rs. 2 lakhs from the …
Bank can’t freeze account of company because director of company was facing a matrimonial dispute with his wife – High Court In a recent judgment, the Hon’ble Allahabad High Court has directed bank to allow the petitioner company to operate its current account which was freezed by it because …
Penalty u/s 271E deleted for repayment in cash unsecured loan taken from founder director to meet expenses when bona-fide of transaction was not disputed. In a recent judgment, the ITAT Rajkot has deleted penalty u/s 271E of the Income Tax Act, 1961 (the Act) because due to bank …
Nainital Bank empanelment of chartered account firms for concurrent audit for FY 2025-26 Nainital Bank invites application for empanelment of chartered account firms for concurrent audit of bank branches and departments for FY 2025-26 An application money (non refundable) is payable of Rs. 1000/- which has to be …
Mere act of dishonor of cheques issued by a chartered accountant would not amount to misconduct – High Court In a recent judgment, the Hon’ble Delhi High Court held that mere act of dishonor of cheques issued by chartered accountant would not amount to misconduct. Whether dishonour of …
High Court incorrectly exercised writ jurisdiction to preclude statutory mechanism and procedure under IBC from taking its course –Supreme Court In a recent judgment, the Hon’ble Supreme Court set aside the order of the High Court and held that it incorrectly exercised writ jurisdiction as it precluded the …
SEBI modifies Investor Charter for Stock Brokers. In a move to enhance financial consumer protection alongside enhanced financial inclusion and financial literacy and in view of the recent developments in the securities market including introduction of Online Dispute Resolution (ODR) platform and SCORES 2.0, SEBI has modified Investor …
CBDT issues Circular on deduction of Tax TDS on Salaries u/s 192 of the Income Tax Act, 1961 during FY 2024-25 CBDT has issued Circular No. 03/2025 dated 20th February 2025 specifying guidelines for TDS on Salaries for the Financial Year 2024-25. CBDT Circular – TDS on Salaries …
